ΕΛΛΗΝΙΚΟΣ ΧΡΥΣΟΣ

1. Strategic, Analysis & Action

ADMINISTRATIVE PRACTICES

Attached Files: Download Sustainable Development Report 2015

2. Materiality

ADMINISTRATIVE PRACTICES

Attached Files: Download Hellas Gold sustainability report pages 18-20

3. Objectives

ADMINISTRATIVE PRACTICES

Attached Files: Download Hellas Gold sustainability report pages 37, 39, 44, 49, 54-55, 59, 62, 63, 64, 68

4. Management of Value Chain

5. Responsibility

6. Rules & Processes

ADMINISTRATIVE PRACTICES

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7. Monitoring

ADMINISTRATIVE PRACTICES

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8. Incentive and reward systems for Sustainable Development

9. Stakeholder Engagement

ADMINISTRATIVE PRACTICES

Hellas Gold identifies its stakeholders as those who are influenced by its activities and those whose actions influence the
Company’s long-term sustainability. The following table includes information on the Company’s stakeholders and the
methods of engagement with them. The way that Hellas Gold addresses stakeholders’ concerns regarding the most material
of the below issues is described throughout this Report.

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PERFORMANCE INDICATORS

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10. Product Responsibility and Innovation

ADMINISTRATIVE PRACTICES

We don’t believe in operating simply as mine managers or stewards of mineral resources. Rather, we are committed to operating responsibly and generating shared value through partnering and cooperating with our stakeholders. Our environmental management practices are designed to mitigate our impacts across the lifecycle of our operations, from exploration through to mine closure. We are already demonstrating this commitment through activities like the remediation and rehabilitation of old mine tailings, the use of advanced environmental monitoring systems, and rigorous employee environmental training.
Hellas Gold’s Environmental Department is one of the most staffed departments when compared to mining companies of our size in Greece, with 19 employees and 15 contractors permanently employed by our sites. Environmental management system Hellas Gold has implemented a rigorous Εnvironmental Μanagement System (“EMS”) that governs our environmental stewardship across the lifecycle of our mines. The EMS is designed in accordance with our operating licenses and permits, and is independently certified in accordance with the ISO 14001 Environmental Management System standard. Implementation of ISO 14001 was a rigorous process and involved the development of our environmental policy, operating
procedures and guidelines, environmental objectives and policy commitments, and the conduct of regular audits and reporting. The scope of ISO 14001 encompasses all stages of our projects’ life cycle, including exploration for new deposits, construction of new mining facilities, operation of our mines and processing facilities, transportation of materials, and rehabilitation of our sites. Our practices and activities are prioritized based on environmental monitoring and impact assessments that we continuously undertake. These actions - based on Greek and European legislature - are outlined in monitoring and assessment procedures that satisfy the requirements of all agencies and bodies that oversee our performance.
These agencies and bodies include:
• The Ministry of the Environment
• The Environment, Construction, Energy and Mining Inspection Body
• The Ministry of Health
• The Decentralized Administration of Macedonia-Thrace
• The Region of Central Macedonia
• The Municipality of Aristotelis
• Scientific Committee for the Compliance to Environmental Terms In 2016, we aim to become certified under the ISO 50001 Energy Management Systems standard. This initiative will help Hellas Gold make continuous improvements to our energy use, and make it easier for the Company to integrate energy management into our broader decision making efforts. ISO 50001 is an example of a leading European standard, and in the future will help position Hellas Gold to be certified under the EU Eco-Management and Audit Scheme (EMAS); a premium management instrument developed by the European Commission for companies to evaluate, report, and improve environmental performance. We intend to apply for EMAS when all of our facilities are operational, most likely in 2019.

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PERFORMANCE INDICATORS

Hellas Gold Senior Management are actively involved in supporting our environmental stewardship commitments,
and are responsible for ensuring our teams are equipped with the necessary resources, tools and infrastructure to ensure our continued environmental compliance and strong performance. The Environmental Department is responsible for identifying opportunities to improve the rigor and effectiveness of the Environmental Management System, and all of the Department’s projects and proposals are reviewed by Senior Management prior to approval and implementation. A prime example of the investment in environmental stewardship is Hellas Gold’s pioneering environmental monitoring
program, which required significant upfront expenditure for purchasing and installing the required equipment. During the 2014-2015 period, more than €3 million have been invested for this program’s equipment. Additionally, Hellas Gold invests in reclamation and rehabilitation projects from the preexisting mining activities both at Olympiada and at Stratoniki - Mantem Lakkos - Stratoni area. Indicatively, during the 2013-2015 period, the Company invested more than €1 million in Olympiada, and following the projects’ completion, scheduled for 2018, the cost is expected to exceed €10 million. Hellas Gold is also working with several local Universities, whose research has helped identify new ways we can improve our environmental performance.
We have partnered with:
• The Forestry Faculty of the Aristotle University of Thessaloniki for environmental reclamation
• The School of Geology of the Aristotle University of Thessaloniki for hydrological studies
• The School of Mining and Metallurgical Engineering of the National Technical University of Athens for environmental characterization studies of solid samples (waste rock and tailings)

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11. Usage of Natural Resources

ADMINISTRATIVE PRACTICES

Hellas Gold obtained its mining license subject to two key requirements; the development of the Kassandra mines and the prioritized remediation and rehabilitation of existing mine projects. Since the beginning of its operation, Hellas Gold has worked towards completing all remediation activities associated with these historic mining areas, even before construction and development of the Kassandra mines. This demonstrates our commitment to operating responsibly with respect for the local environment. Our rehabilitation of old tailings demonstrates that mining can leave behind clean water, rehabilitated landscapes and healthy ecosystems. Our investment in the Kassandra Mines is constantly guided by our efforts to protect the environment. Backfilling mine waste, the dry disposal of tailings, and our mine remediation of disturbed soils from former mining activities are just a few examples of the approach we take towards protecting the environment and are embedded in our mine design throughout the project’s lifecycle. The reclamation of the area in parallel with the development of our projects is a core value and the foremost parameter in our project design. This means once we complete mining an area, we concurrently complete its rehabilitation.

Solid and liquid waste management is governed by the following management procedures:
• Hellas Gold’s Integrated Municipal Waste Management Program
• The Non-Hazardous and Hazardous Industrial Waste
Management System, which encourages mine employees to separate industrial waste at the point of generation in order to optimize their handling and management.
1. Solid mining waste
After raw materials are processed at our crushing facilities, any solid inert mining waste from the development of the Olympiada Mine, Skouries Mine and Mavres Petres development projects, are used for construction material. In many cases, these materials are also offered for free to local communities for their own infrastructure needs. Additional solid mining waste generated by our processing plants is used after treatment either as backfill material underground, or transferred to specially licensed landfill areas located inside our mine facilities. All solid mining waste is monitored by our Environment Team as part of our site environmental inspection and assessment procedures. Finally, during the development of our mining facilities any topsoil we remove is stored and maintained, and is later used for reclamation activities and at our plant nursery in Olympiada.
2. Liquid mining waste
Olympiada, Stratoni, Madem Lakos Because our sites recycle and recirculate water, we don’t generate any liquid waste. Only a small volume of water from
the underground Olympiada Μine, approximately 5-10 m3/h (an equivalent of 2-4% of an Olympic size swimming pool) is used to replace losses that occur due to product moisture and evaporation. The flotation plant’s water treatment circuit is closed, without producing liquid waste. After we process material, and in accordance with our licensing requirements for environmental disposal, any excess water is discharged to the natural environment. Approximately 10
m3/h at Stratoni and 5-10 m3/h at Madem Lakos are used as replacement water.

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PERFORMANCE INDICATORS

In Stratoni: 11% of total extracted materials is deposited as solid mine waste 26% of extracted materials forms the concentrate that we sell 63% of material forms a byproduct that we utilize for backfilling and construction works.

In Olympiada (from treatment of historic tailings): 15% of treated tailings is sold as concentrate 85% of extracted materials forms the by-product that we use for backfilling. Νo mine waste water or industrial effluents are discharged from our sites without being processed by our water treatment plants. Furthermore, the recycling of industrial water means that our sites discharge very little water, and only groundwater from our underground mines - not waste water - which is processed and discharged by our water treatment plants in accordance with the quality thresholds prescribed by our mining license.

We monitor and measure all waste generated by our sites in order to assess how effectively we reuse and recycle waste materials, in order to limit the volume of material sent to landfill. Mine waste generated from the cleaning of old tailings in Olympiada (reprocessed tailings) is monitored on a daily basis, with 800,000 liquid tons generated in 2015, which will be used for backfilling of the historic mining areas. At the Skouries mine, solid waste from the underground mine development was used as construction material, with over 20,000m3 utilized by our construction teams. All our coarse tailings material
is monitored daily by Hellas Gold. Specifically 106,000 liquid tons of coarse tailings were produced in 2015 at Stratoni - Mavres Petres, which was used as mine backfill. Additionally, over 6,000m3 of waste was generated, which was subsequently crushed and used on the mine tunnel floors.

We constantly monitor all liquid waste generated at our sites, which almost entirely consists of processed mine water or contact water from rainfall. Continuous sampling and chemical analysis by our Environmental Department monitors water quality parameters, and the results have proven that water quality and composition at Kassandra Mines is consistent with water samples taken elsewhere in Halkidiki.

In 2015, a significant increase in mine water supply was recorded, due to numerous large rainfall events in the winter. Precipitation from these storms generated between 400m3 to 700m3 of water during each event. Water acidity (or pH) is continuously monitored at our sites to ensure water quality falls well within our operating limits, both upon entry to the treatment facilities and at the point of final runoff. In addition, we are currently designing a new water processing unit capable of handling much larger volumes of water. We have operated this equipment on a pilot scale at Olympiada, improving mine water quality to potable drinking levels. We anticipate moving from a pilot to full scale operation in 2016.
The volume of liquid waste at Stratoni increased during the first period of 2015, due to large rainfall in the winter season. Between late 2014 and early 2015, prolonged periods of intense rainfall resulted in large flows of water at the site, and drainage was observed through subsidence and cracking of the land. This drainage was caused by the combination of heavy rainfall and the residual effects of former mining practices in the area. More specifically sub level caving in the past has caused cracks in the land today. Our monitoring of water quality confirmed that pH levels remained within the established limits
both upon entry to and runoff from the the mine water treatment facilities.

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12. Resource Management

13. Climate-relevant emissions

ADMINISTRATIVE PRACTICES

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14. Employment Rights

ADMINISTRATIVE PRACTICES

Hiring people from the local community
For Hellas Gold, the main criterion during recruitment is that new employees are hired from the local area. The vast majority (87%) of the Company’s current staff come from the wider area of the Municipality of Aristotelis. The Company’s aim is to hire employees from local communities wherever possible.

Promoting a shared culture for employees at all our workplaces

Eldorado Gold acquired Hellas Gold in February 2012, but the story of the Kassandra mines dates back to the start of the 20th century. Each of the  companies that operated in the region had their own working culture and their own procedures. Today, we want to combine that tradition and experience with new technologies and know-how, and merge the skills of the local workforce with leading international practices. To achieve that, it is vital that we
all share the same goals, so that we all perceive success and challenges in the same way. Consequently, promoting a common culture for all our employees at all our workplaces is an every-day objective we strive for. This culture is founded on a belief in environmental responsibility beyond legal compliance, the continuous improvement of occupational Health and Safety, and the elimination of all kinds of discrimination in the workplace. To achieve these objectives in human resource management, we have adopted:
• A performance appraisal system
• An HR development strategy, aligned with corporate strategy

We also want to ensure that our employees enjoy an environment where everyone knows their rights and obligations. That’s why all work standards have been set out in Hellas Gold’s Work Rules and given to all employees. The Rules regulate labour relations at Hellas Gold, putting the individual at the heart of our day-to-day operations, setting out principles and forms of behaviour required to effectively participate in collective decision-making processes, and  establishing values that promote personal and social responsibility. The Work Rules have been signed by the trade unions and are distributed to all new recruits along with their employment contract. Our employees are notified about any change in the terms of their employment contracts one month before those changes take effect. The percentage of employees covered by collective labour agreements was 66% in 2015. Our Company also has two active trade unions, which ensure that employees maintain adequate contact with management.

These trade unions are:
• Agia Varvara’ Labourers & Employees Union
• Association of Underground Miners – Kassandra Mines Halkidiki.

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PERFORMANCE INDICATORS

Management’s approach to recruitment, employee retention and employment issues is evaluated using the following indicators:
• The number of direct and indirect jobs created.
• The employee retention rate and turnover levels.
• Employee satisfaction levels, which, in 2015, were evaluated indirectly and qualitatively, mainly through employee unions.
• Lost day rates.
• Employee and executive performance appraisals.

• The hours of employee training, especially on Health and Safety issues. In 2015, a total of 5,522 hours of training were provided to employees and contractors on Health and Safety issues.
• Ensuring a balance between the number of men and women recruited. We recognise that, due to the nature of our business and the relatively limited availability of experienced female mine workers in Greece, the percentage of female employees at the Company is relatively low. However, in the Administration Sector of the Company, the percentage of women recruited is 39% of the total. Our internship, summer-term positions and scholarships continue to support women who are interested in pursuing careers in the mining sector. Human Resource challenges facing Hellas Gold are often related to licensing issues, which can cause unnecessary delays to the development of our investments. During 2015 in particular, the Company faced the major challenge of temporary layoffs following the revocation by Greece’s Ministry of Productive Reconstruction, Environment and Energy of the technical studies of its projects in Halkidiki. The HR Department’s handling of this difficult period was considered successful, with clear communication to all employees of Company actions, and a balanced  distribution of temporary layoffs among employee groups. The Human Resource department provided clear communication for the cause of suspension and negative reactions were therefore limited.

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15. Equal Opportunities

ADMINISTRATIVE PRACTICES

Providing vocational training and education to promote life-long learning
In addition to the Company’s commitment to providing competitive compensation, Hellas Gold is committed to training its employees and that is why regular training at all worksites is a continuing priority for us. Although the majority of our workforce comes from the local community and has experience in mining, the continued training and education of staff means improved productivity and employee safety. Hellas Gold also believes in contributing towards the education of the local community, and provides scholarships for high school graduates who manage to get into university. This practice means that young people can tie their studies into a professional career, returning home to work and build a life for themselves in Halkidiki. The northeast Halkidiki region is one of the few non-urban areas in Greece which today gives young people an opportunity to pursue a rewarding career, near their home town, thanks to Hellas Gold’s operations in the area. It is also worth noting that the Company holds one of the largest percentages of employed engineers in the country, and offers employment opportunities to egineers with unique specializations, such as metallurgists and environmental engineers. The Company also plans to run a career guidance program offering advice to junior high school students while also helping the Company identify potential future employees from the area. Internships and summerterm positions are already fully integrated in Hellas Gold’s human resource planning, helping to increase the number of new hires from local communities.

Ensuring equal opportunities and avoiding discrimination
We believe in equal opportunities and base all recruitment decisions on abilities and experience. Male and female employees are paid equally for equivalent positions. Our Code of Business Conduct and Ethics states that all Hellas Gold employees are responsible for ensuring a workplace free of discrimination of any type, including discrimination on grounds of race, religion, gender, age, nationality, disability or sexual orientation.

All employees, apart from interns and upper management, are eligible to receive performance bonuses based on accomplishing predetermined performance criteria, which include our target of zero days of work lost due to workplace accidents and emphasis on Health and Safety commitments. In addition to meeting statutory requirements with respect to compensation and benefits, the Company provides additional discretionary benefits to employees such as life and accident insurance, and medical and hospital coverage through a group insurance policy, as well as support for housing and transportation. Despite Greece’s economic situation, Hellas Gold has continued to maintain salaries unchanged and also offers all employees additional paid days off work. Employee benefits 66% the percentage of employees covered by collective labour agreements in 2015 Stab le pay and additional days off work

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PERFORMANCE INDICATORS

Management’s approach to recruitment, employee retention and employment issues is evaluated using the following indicators:
• The number of direct and indirect jobs created.
• The employee retention rate and turnover levels.
• Employee satisfaction levels, which, in 2015, were evaluated indirectly and qualitatively, mainly through employee unions.
• Lost day rates.
• Employee and executive performance appraisals.

• The hours of employee training, especially on Health and Safety issues. In 2015, a total of 5,522 hours of training were provided to employees and contractors on Health and Safety issues.
• Ensuring a balance between the number of men and women recruited. We recognise that, due to the nature of our business and the relatively limited availability of experienced female mine workers in Greece, the percentage of female employees at the Company is relatively low. However, in the Administration Sector of the Company, the percentage of women recruited is 39% of the total. Our internship, summer-term positions and scholarships continue to support women who are interested in pursuing careers in the mining sector. Human Resource challenges facing Hellas Gold are often related to licensing issues, which can cause unnecessary delays to the development of our investments. During 2015 in particular, the Company faced the major challenge of temporary layoffs following the revocation by Greece’s Ministry of Productive Reconstruction, Environment and Energy of the technical studies of its projects in Halkidiki. The HR Department’s handling of this difficult period was considered successful, with clear communication to all employees of Company actions, and a balanced  distribution of temporary layoffs among employee groups. The Human Resource department provided clear communication for the cause of suspension and negative reactions were therefore limited.

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16. Qualifications

17. Human Rights in the supply chain

ADMINISTRATIVE PRACTICES

Mining and Quarrying Operations Regulations
All mining companies in Greece operate in strict accordance with the Mining and Quarrying Operations Regulations, which further adheres to the requirements of OHSAS 18001.

Contractor Safety Rules

Our Contractor Safety Rules are included in all tender notices and project assignments at Hellas Gold mine sites, and form an integral part of the contracts the Company signs with all suppliers. The main objective of these rules is to ensure that contractors carry out work safely to prevent accidents among their employees, Company employees or third parties, and to avoid damage or harm to the facilities and equipment belonging to the contractor, Hellas Gold or third parties. Contractors are required to train their employees on Health and Safety issues at regular intervals, and before any project commences. The Contractor Safety Rules must form part of the core training materials for the contractors’ own employees. In 2015, Hellas Gold rolled out a new Contractor Management System. This system emphasizes the Company’s prerequisites for evaluating contractors, right from submission of quotes for a project. The contractor who will implement the project under the safest conditions will be selected. In addition, contractor employees undergo regular check-ups to determine their suitability for work. The Contractor Management System (represented by the Contractor Safety Standards) is based on strict standards.

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PERFORMANCE INDICATORS

Health and Safety targets are revised depending on the circumstances and annually attempts are made to improve year-on-year performance. External checks and inspections are also carried out regarding our compliance with OHSAS 18001 requirements, and seminars by external bodies are regularly attended by Company engineers so that they can effectively carry out Health and Safety inspections and internal audits. In 2015 we further improved the safety measures for working at height, and clamped down on unsafe driving by adopting a stricter safe driving policy. Finally, in 2015, we provided 5,522 hours of Health and Safety training to employees and contractors.

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18. Corporate Citizenship

ADMINISTRATIVE PRACTICES

Investing in local jobs
The Company is the largest employer in the Municipality of Aristotelis. We aim to recruit 90% of Company employees from the Municipality of Aristotelis. Currently, 87% of our employees are locally hired, and we continue to review our recruiting practices to enable us to meet our target. For example, we
are enhancing our search for new employees located within the Municipality, and are conducting more interviews with local candidates. This also means proactively looking for new employees from villages in the area, which have high unemployment rates. Our internship and summer-term positions programs are also great initiatives for us to identify potential future candidates. Ensuring that we provide local employment is therefore a material issue for both our
communities and the Company, particularly with regard to the need to develop local professions and our determination to invest in local recruitment, training and development. Recruiting residents from the Municipality of Aristotelis provides local students with an incentive to pursue studies related to mining. We anticipate that approximately 5,000 employee and contractor jobs will be created when all  three projects are in full swing because of the development taking place in the local area. We’ve received more than 8,200 job applications for the Kassandra Mines, which are becoming one of the largest employers in Northern Greece, 5,200 of those applications came from other municipalities. In addition, the fact that many Company executives, including
the Managing Director, originate from the area, fosters trust from local communities about the Company’s practices and plans. Being a part of the community, we regularly consult and engage on local issues concerning our neighbours, an example of which included the availability of non-manual labour roles for women interested in entering the mining industry. We take all feedback seriously and adjust recruitment practices wherever possible, such as our recent focus to recruit and train local women as security staff.

Supporting the local economy
In addition to the direct jobs we create and the jobs created by our contractors, the Company also supports other indirect and induced employment,
including local suppliers, petrol stations and fuel providers, and catering companies. We founded and support the Mount Athos Area Organization,
which aims to enhance tourism development in the region. Through its efforts, in 2015, the “Aristotelis Walk” brought 728 overnight stays in the area, and has helped extend the tourist season from 2.5 to 4 months annually. In Amouliani, room occupancy levels reached 100% in 2015, despite an overall 15% decrease nationally. In this context, new professions are emerging and supporting  sectors related to mining and the local economy are benefiting,
creating a new network of businesses that we can partner with.

Local suppliers
Company procurement policies reflect our strategy to bolster the local economy by directing employment and contracts to local suppliers. Key aspects we manage along our supply chain include local supplier management, optimising existing transport networks, combining and merging cargoes, using   transhipment centres, and ensuring our suppliers establish and adhere to safe operating procedures. Hellas Gold also collaborates with local businesses
in an effort to bolster employment levels for women. Tourism Tourism is a major industry and building block for economic development across the entire Municipality of Aristotelis. Hellas Gold supports the tourism and hotel sectors, in both the mountainous and coastal zones. Working closely with local government and competent local bodies, travel agencies and hotels, we have helped to develop major marketing campaigns aimed at developing all forms of tourism across the Municipality of Aristotelis. The results have been particularly encouraging with growth in religious tourism outside of Mt. Athos, more school trips within the Municipality, increased tourism during winter months, and the emergence of new attractions such as enotourism (wine tourism) and hiking tours.

Rural Development
To support and encourage broader economic growth in the region, we have developed partnerships with academic institutions and experts to train local  residents across a series of rural farming practices. Specifically, we are currently conducting a study into the planting and cultivation of aromatic and  medicinal herbs not previously grown in the region, which we established on Company land near Stratoniki village

Mitigating environmental impacts
As part of our consultation and Open Door Policy with the local communities, Hellas Gold frequently briefs local residents about the environmental impacts of its projects. In doing so, our Company engineers answer all questions and explain in detail any topics of interest, including the rehabilitation of old mining and tailings areas, actions to create a plant nursery, environmental monitoring and measures taken to improve the management of environmental issues.
Mitigating our environmental impacts is a key aspect of our social license to operate. Our approach is analysed in Chapter 5 of this Report and reflects the environmental awareness of Hellas Gold’s employees and local residents, and our commitment that even our smallest project will be implemented in a  responsible manner. Contributing to civil protection, infrastructure and services Projects to improve road networks, infrastructure and civil protection  services are illustrative of our efforts to improve the overall quality of life; not just for our employees, contractors and suppliers, but for all residents of the local area.
Forest protection, fire safety, support for flood protection works and environmental improvement works in the wider area, coupled with a well-trained,  volunteer rescue team are just some of the measures that demonstrate to the local community that our Company is responsible when it comes to  generating value for society as a whole. For example, on Monday, 15 June 2015 a fire protection flyover program was initiated in Halkidiki, for which Hellas Gold covered the cost of fuel in full. This fire protection flyover program lasted all summer and ran until Sunday, 13 September 2015 with Cessna aircraft from the Thessaloniki Aviation Club.
Developments and improvements to civil infrastructure are also visible throughout the area, including new water supply networks, new roads, biological treatment plants and boreholes, renovated buildings, renovated churches, and construction projects, all sponsored by Hellas Gold.

Attached Files: Download Sustainable Development Report 2015

PERFORMANCE INDICATORS

We evaluate our relationship and interaction with local communities every day in order to identify and provide meaningful and impactful contributions that generate value for society. In addition to looking at the qualitative aspects of this relationship, a key tool in evaluating our approach is research, which  includes data related to our social license to operate. It’s worth noting that many adjustments to our engagement strategy and approach have been  influenced by market research. We also monitor and record the results of our activities so as to constantly improve the positive impact we have. As an indication of that positive impact, in June 2015 we received a distinction from the Corporate Responsibility Institute in recognition of our activities and performance in the field of Corporate Responsibility.
Nevertheless, we recognise that the Company does not have a comprehensive system for responding to complaints from the local community, or a well-established method for recording its contacts with the local community. So, in 2016, the Company plans to take steps to achieve those two objectives, which will offer us more tools for evaluating how we manage and measure our social license to operate. To date, complaint management and meetings with the
local community have been handled informally as part of the Company’s community engagement activities. A key factor that contributes to our social license are the wages we pay our employees and contractors compared to other industries in the region. Mining is traditionally a competently-paying industry, and more specifically, Hellas Gold pays a minimum wage that is more than 50% higher that the statutory minimum wage. The areas around our projects have the highest reported income levels in Halkidiki. The clearest example is Olympiada where there has been a 17% demographic rise in minimum wages earned. While not explicit evidence of strong social performance, higher wages do demonstrate the positive impact our projects can have on society and an individuals’
purchasing power.

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19. Initiatives and Political Influence

20. Corruption prevention and alleviation