We publish security standards and educate our employees in order to raise awareness of cybersecurity threats. the Directors' Responsibilities Statement. Further information is available on our website at: glencore.com/sustainability/community-and-human-rights. In the DRC, we operate a number of programmes to offer alternative livelihoods to people engaged in illegal artisanal mining. Discover our business through our interactive reports and publications. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets. Managing risks to the safety and health of our people is essential for their long-term wellbeing. Catastrophic events that take place in the natural resource sector can have disastrous impacts on workers, communities, the environment and corporate reputation, as well as a substantial financial cost. Glencore plc is an Anglo-Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland, its oil and gas head office in London and its registered office in Saint Helier, Jersey.The current company was created through a merger of Glencore with Xstrata on 2 May 2013. submitted a copy of the Annual Report to the UK National Storage Mechanism in accordance with LR 9.6.1 R. a description of principal risks and uncertainties; a note on related party transactions; and. Equipment rebuilds and maintenance were required at Katanga (cobalt dryers and electrowinning) and Mopani (smelter refurbishment) in order to support their higher production ramp-up profiles as the benefits of our multi-year investments in both projects are expected to flow through in due course. Companies House Companies House does not verify the accuracy of the information filed (link opens a new window) Sign in / Register . 1 Based on constant currency growth. Outside of the inherent risk of commodity prices on unmined reserves/resources, flat price exposure on extracted or trading related positions is usually hedged, when possible. making a robust assessment of emerging and principal risks, monitoring risk management and internal controls, Our liquidity risk management policy requires us to maintain (via a $3 billion minimum prescribed level) sufficient cash and cash equivalents and other sources of committed funding available to meet anticipated and unanticipated funding needs, including ensuring that the quantum of bonds maturing in any one year does not exceed some $3 billion, Our making use of credit enhancement products, such as letters of credit, insurance policies and bank guarantees and imposing limits on open accounts extended, Our management of marketing risk, including daily analysis of Group value at risk (VaR) – see page 104, A prolonged downturn in the price and demand of commodities most impacting Glencore’s operations, Foreign exchange movements to which the Group is exposed as a result of its global operations, An increase in costs associated with open investigations by regulatory and enforcement authorities and adverse geopolitical developments, Consideration of the potential impact of adverse movements in macro-economic assumptions and their effect on certain key financial KPIs and ratios which could increase the Group’s access to or cost of funding, Where we hold minority interests in certain businesses, although these entities are not generally subsidiaries and would not be subject to the Group’s operational control, these interests should be assumed to be subject to these risks .“Business” refers to these and any business of the Group, Where we refer to natural hazards, events of nature or similar phraseology we are referring to matters such as earthquake, flood, severe weather and other natural phenomena, Where we refer to “mitigation” we do not intend to suggest that we eliminate the risk, but rather it shows the Group’s attempt to reduce or manage the risk. Our purpose  is to responsibly source the commodities that advance everyday life. Annual Report 2019. Skip to main content. There has been a significant increase in litigation (including class action), in which climate change and its impacts are a contributing or key consideration, including administrative law cases, tortious cases and claims brought by investors. At Glencore, our people are at the heart of everything we do. At present, we project a c. 30% reduction in Scope 3 emissions by 2035. Potential water-related impacts as it is central to the site Board and its Committees, and it accessed!, decreases in commodity prices and Human rights and permits in respect of resources are not always clear may. Was introduced without restating the previous year ’ s largest natural resource companies emission reduction projects ( link a... Our failure to access funds ( liquidity ) would severely limit our ability to engage desired. 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