Values, policies and memberships

Since November 2010, we have a Value Statement which guide the management of the company and the actions of our employees at the workplace, lining up to international standards on issues such as respect to life, human rights and environment. From this document all our regulatory structure and instruments emerge.

OUR SUSTAINABILITY POLICIES AND REGULATIONS

(4.8 / 4.12) 4.8 Internally developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation.
4.12 Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses.

We are governed by policies and regulations that frame our commitment and actions. Since the end of 2011, these instruments have been reviewed and analyzed in keeping with a new regulatory structure that allows a better compliance with the internal regulations of the Corporation. We want to make progress in our journey of improvement to become an ever more sustainable company.

Policies in force in 2011

Other policies:

Quality of Life Policy.
Policy on Alcohol, Drugs and Tobacco.
Supply Policy.
Business Ethics Policy.
Marketing policy.
Framework for Codelco’s relationship with suppliers, contractors and subcontractors.

Regulations:

Codelco’s Corporate Standard No. 24 (risk analysis for people, the environment, the surrounding communities and goods).
Commitments to Indigenous Peoples.
MCommunity Relations Manual (MARCO).
Commitments in the field of biodiversity.
Environmental and Occupational Hazards Regulations.
Manual for Energy Efficiency in Investment Projects.
Corporate Guideline on the Efficient Use of Energy.
Codelco Chile Corporate Guidelines for Closure of Mining Operations.
Fatality Control Standards (FCS).

Value Statement

(4.8) Internally developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation.

We are Codelco, the largest mining company in Chile.

We are a team of men and women committed to Codelco’s leadership in the global mining industry and in Chile, with a view to contributing to the country’s development.

We work with enthusiasm and adhere to high safety standards, giving careful consideration to sustainability and maximizing the profit we generate for our owner, the State of Chile.

We endeavour to make every Chilean proud of Codelco and to hold in high regard the company’s long-standing history of service to the country, safeguarding the Company name as if it were our own.

ADHERENCE TO EXTERNAL POLICIES

(4.12) Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses. We adhere to the following international statements and initiatives:

Business Charter for Sustainable Development of the International Chamber of Commerce.
Toronto Declaration of the International Council of Mining and Metals (ICMM).
Joint declaration of the World Economic Forum, Global Corporate Citizenship: The Leadership Challenge for Chief Executive Officers and Boards of Directors”.
Principles of the Partnering Against Corruption Initiative (PACI).
United Nations Convention on the Rights of the Child.
United Nations (UN) Universal Declaration of Human Rights).
Convention 138 of the International Labor Organization (ILO).
ILO Convention No. 169 concerning Indigenous Peoples.

PARTICIPATION IN PUBLIC POLICY

(SO5) Public policy positions and participation in public policy development and lobbying.

We are active participants in public policy processes, both nationally and internationally, particularly in policy development processes and through participation mechanisms as defined by national legislation, either independently or through professional organizations.

This participation is a commitment that stems from our Corporate Policy on Sustainable Development, strengthened by the establishment of the Value Statement that guides the actions of the Corporation in the field of public participation, among others.

National Scope

During 2011 the processes of greatest relevance in which we participated were:

The discussion of enacted Law 20,551 which regulates closure of mine sites and facilities.
Participation in the expanded committee for the development of an emission standard for copper smelters.
Draft law on mining safety and institutionality.

International Scope

On the other hand, and in line with the Corporation’s policy on transparency, through our participation in the International Council on Mining and Metals (ICMM) we support the Extractive Industries Transparency Initiative (EITI), global initiative whose goal is to build partnerships in developing countries to strengthen government transparency and accountability.

MEMBERSHIPS

(4.13) Memberships in associations and/or national or international advocacy organizationswhich the organization endorses. We are part of the following organizations that discuss and make decisions and take action with regards to the relationship between the world of business and sustainability.

National Security Council, since 1953 (since its foundation by Codelco’s predecessor companies)
World Economic Forum (WEF), since 1997.
Chilean Mining Council A.G., since 1998.
International Copper Organization (ICA), since 1989.
International Molybdenum Organization (IMOA), since 1989.
American Chamber of Commerce in Chile, Amcham, since 1999.
World Business Council for Sustainable Development (WBCSD), since 2000, and the Chilean Chapter of the WBCSD, since 2004.
Global Reporting Initiative (GRI), since 2003.
Latin American Social Security Organization (OISS), since 2006.
Acción RSE, since 2010.
International Council on Mining and Metals (ICMM), since 2011.
International Commission on Large Damms (ICOLD).
Foundation for the Sustainability of the Peruvian Tern, since 2008.

Codelco enters the ICMM
In October 2011 we entered the International Council on Mining and Metals (ICMM), the most important international mining association in sustainability matters. Through this participation, we state our commitment to improving our sustainable development performance in an open and collaborative way, publicly reporting our sustainability performance before this entity on an annual basis.

ICMM is an “agent of change” regarding the social and environmental responsibilities of its members, where collaboration makes perfect sense. It is a visión of leading companies working together to strengthen the contribution to sustainable development made by mining, minerals and metals. (www.icmm.com)

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