MASHINIi

Goldcorp Inc..

GG.US | Mining of iron ores

Goldcorp Inc. is a leading gold producer engaged in the operation, exploration, development, and acquisition of gold properties, primarily in the Americas. The company's main activities involve extracting and processing gold ore to produce gold bullion. Goldcorp also produces by-products such as sil...Show More

Ethical Profile

Mixed.

Goldcorp Inc. (now part of Newmont) has faced significant ethical scrutiny. Its former Marlin mine in Guatemala has been linked to water contamination, land degradation, and mental health issues like depression and anxiety in local communities, with reports of violence against activists. Worker safety is a concern, including a 2018 roof collapse that resulted in six fatalities. The company has also experienced union disputes and critics point to allegations of insufficient consultation with indigenous peoples regarding mine development. While some waste reduction initiatives exist, the inherent nature of gold mining presents challenges for zero waste goals.

Value Scores

Better Health for All-50
-100100
Fair Money & Economic Opportunity0
-100100
Fair Pay & Worker Respect0
-100100
Fair Trade & Ethical Sourcing0
-100100
Honest & Fair Business0
-100100
Kind to Animals0
-100100
No War, No Weapons0
-100100
Planet-Friendly Business-50
-100100
Respect for Cultures & Communities-80
-100100
Safe & Smart Tech0
-100100
Zero Waste & Sustainable Products0
-100100

Better Health for All

-50

Goldcorp Inc.'s Marlin mine operations in Guatemala caused severe, widespread health damage to the Indigenous community of San Miguel Ixtahuacán.

1
Documented impacts include water contamination, land degradation, structural damage to homes, and mental health issues such as depression, anxiety, and alcohol addiction.
2
The company's operations are directly linked to these negative health outcomes and externalities.
3
There is no evidence of company initiatives to support mental health or mitigate addiction, despite these being direct negative impacts of its operations.
4
Multiple instances of violence, including beatings, shootings, and one death, occurred against activists opposing the mine, with one community member losing an eye and hearing.
5
Transparency issues were noted regarding the mine's licensing process and operations.
6
The company's core business does not involve health-related products or services, nor does it engage in health innovation, education, or crisis response.

Fair Money & Economic Opportunity

0

Goldcorp Inc. is a gold producer, not a financial institution. Consequently, the KPIs under 'Fair Money & Economic Opportunity' are not applicable to its core business. The company does not offer lending, deposit, or other consumer financial products, nor does it manage customer financial data or operate financial service access points. Therefore, no specific, concrete data points are available in the provided articles to score KPIs such as underserved_client_share, pricing_fairness, exploitative_fee_exposure, inclusion_initiatives (as it pertains to loan/insurance books), data_accessibility, fair_lending_compliance, wealth_building_outcome (as it pertains to customer credit/savings), profit_reinvestment (as it pertains to community finance), debt_burden_ratio, geographic_inclusion (as it pertains to banking deserts), and product_simplicity. While Goldcorp does offer a 'Future Choices' program providing women with insights on basic financial concepts

1
, no quantitative data on its reach or outcomes is provided to assess the financial_literacy_initiatives KPI, leading to its omission.

Fair Pay & Worker Respect

0

No specific, quantitative data points directly attributable to Goldcorp Inc. (GG.US) were found in the provided articles that align with the defined KPIs for Fair Pay & Worker Respect. While one article mentions United Steelworkers members at Goldcorp ratifying a contract, it does not provide a percentage of the workforce covered by collective bargaining agreements.

1
Other articles refer to Nevada Gold Mines or Newmont, but do not explicitly state that this evidence applies to Goldcorp Inc. or its company-wide operations.

Fair Trade & Ethical Sourcing

0

Goldcorp Inc. reported no incidents of forced or child labor in its 2018 Proxy Statement.

1
The company also has a Code of Conduct
2
and a Human Rights Policy.
3

Honest & Fair Business

0

The provided article discusses general compliance programs and anti-bribery laws, including the UK Bribery Act, US Foreign Corrupt Practices Act (FCPA), and Canada's Corruption of Public Officials Act (CFPOA).

1
It mentions significant FCPA settlements exceeding US$4 billion in a general context.
2
However, the article explicitly states that it does not contain specific data relevant to Goldcorp Inc. (GG.US) or its performance regarding Honest & Fair Business practices, thus no KPIs can be scored.

Kind to Animals

0

Goldcorp Inc. is a gold mining company whose core operations do not involve animal testing or animal agriculture. Therefore, KPIs related to animal testing policy and animal agriculture ethics are not applicable to its business model.

No War, No Weapons

0

No evidence available to assess Goldcorp Inc. on No War, No Weapons.

Planet-Friendly Business

-50

In 2022, the company's total Scope 1, 2, and 3 greenhouse gas emissions were 8.4 million tCO₂e.

1
Its 2030 Scope 1, 2, and 3 emissions reduction targets are approved by the Science Based Targets initiative (SBTi), with Scope 3 targets resubmitted and approved in September 2022.
2
In 2022, 24% of total purchased grid electricity was sourced from renewables.
3
The company has global targets to achieve no net loss of key biodiversity values
4
, works with the IUCN since 2018
5
, and completed reclamation on 192 hectares, exceeding its target of 162 hectares.
6
In 2019, the company paid $169,864 in fines and faced $86,021 in sanctions for non-compliance with environmental laws.
7
The company's report is aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations
8
and utilizes IEA scenarios (Stated Policies, Sustainable Development, Net Zero Emissions by 2050) to frame climate-related risk assessments, including a shadow price of carbon in business planning.
9
The company is developing an internal framework for a just transition, supporting workforce retraining programs and new job opportunities, and partnering with host governments, communities, and the workforce.
10

Respect for Cultures & Communities

-80

90% of shareholders voted against a resolution requiring the company to implement Free, Prior, and Informed Consent (FPIC) processes.

1
Goldcorp did not obtain FPIC from affected communities in Guatemala and Honduras before beginning mining operations, and a Chilean Supreme Court order halted mine development until proper consultation with indigenous peoples occurred.
2
Community complaints were systematically ignored or unresolved, with an average resolution time exceeding 180 days. Goldcorp conducted a Human Rights Assessment (HRA) in 2007
3
and an 18-month assessment of the Marlin mine's human rights impact,
4
but failed to implement key recommendations from its 2010 HRA,
5
and the assessment process was criticized for not involving communities.
6
The company allegedly downplayed ongoing tensions in 2014
7
and failed to halt operations despite community opposition and violence.
8
Operations led to the disappearance of 10 water springs
9
and infrastructure cracks for 500 families,
10
with only 24 out of 42 mine closure recommendations completed.
11

Safe & Smart Tech

0

No evidence available to assess Goldcorp Inc. on Safe & Smart Tech.

Zero Waste & Sustainable Products

0

No relevant evidence was found for Goldcorp Inc. (GG.US) in the provided article regarding Zero Waste & Sustainable Products. The article explicitly states missing data for GG.US across all relevant metrics

1
, and the specific data points mentioned pertain to Kinross operations, not Goldcorp Inc.

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AI-generated analysis based on publicly available data. Not financial advice. Ratings are expressions of opinion derived from automated models and may contain inaccuracies. See our Risk Disclosure for full details.