Governance

Strong, reliable corporate governance, accountable for decisions and with active oversight and support from experienced and diverse management, has been fundamental to the organization's success.

ESG strategy and governance

ESG strategy

Our ESG strategy has three objectives:

  • Governance: Deliver results through strong internal coordination and synergy
  • Socio-environmental performance: Anticipate the challenges and expectations of society, transforming the company to achieve an excellent socio-environmental performance
  • Recognized leaders in ESG issues Consolidate our ESG Way to build trust and ensure business’ success in the long-term

Environmental and social performance requires effective coordination, so our ESG governance framework consists of three levels:

  • ESG Committee: Responsible for strategic alignment, approval of goals, and evaluation of the organization's performance
  • Technical Committee: Responsible for reviewing the sustainability roadmaps and the feasibility of proposed goals generated by working groups and networks
  • Working groups and networks: Responsible for identifying stakeholder expectations, designing roadmaps, and substantiating goal proposals.
ESG Committee
Technical Committee
Working groups and networks

Ethics and integrity

Industrias Peñoles is bound by the highest ethical standards, and we endeavor for every one of our actions and behaviors to reflect our ethical culture and corporate values of trust, responsibility, respect, integrity, and loyalty. We expect all of our employees and everyone with whom we have business dealings to abide by the same standards, and by our Code of Ethics and Conduct. This ethical culture gives us a strategic advantage over our competitors and ensures that we survive and prosper in the long term. It is reflected in the recognitions we received in 2023:

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Our ethics, integrity & compliance journey

2012 – Antibribery and Anticorruption Program

2012 – Antibribery and Anticorruption Program

  • ABAC policies & procedures
  • Whistleblowing mechanism “Línea Correcta” for reporting unethical behavior anonymously, managed by an external Third-Party and oversight by an Ethics Committee.
  • Third party due diligence process.
2013 - 2014 – LBMA Responsible Gold & Silver Certificate

2013 - 2014 – LBMA Responsible Gold & Silver Certificate

  • First independent third-party audit of the company’s supply chain for 2012, which complies with the London Bullion Market Association (LBMA) Responsible Gold Guidance.

2014:

  • Voluntary adherence to the responsible Silver certificate
  • We maintain our LBMA certifications, which demonstrate to customers and investors that the precious metals chain is conflict free.
2017 – Índice IC 500

2017 – Índice IC 500

  • Corporate Integrity index (IC 500) is an initiative of Mexicans Against Corruption and Impunity in conjunction with Transparencia Mexicana (both ONG’s) to assess the existence and publicity of the integrity and anti-corruption policies of Mexico's 500 largest companies.
  • The review criteria are divided into five components: statement of principles; third party relations; training and outreach; whistleblowing system; and availability of information.
  • Since 2021, Peñoles ranks 1st in the IC500 index.
2019 – Third party Code of Conduct

2019 – Third party Code of Conduct

  • This is a sound strategy for establishing and meeting the performance expectations Peñoles has for its entire value chain.
2020 – Harassment Prevention Program

2020 – Harassment Prevention Program

  • Protocol for prevention and attention of labor and sexual harasment
  • Training for personnel.
  • Confidence is being built in the mechanism to attend cases of labour & sexual harassment.
2022 – Responsible sourcing

2022 – Responsible sourcing

  • We increased the scope of our metallurgical business to base metals (lead & zinc) using what we learned from the responsible sourcing program for precious metals.