MASHINIi

GLENCORE PLC.

GLEN.LSE | Wholesale of metals and metal ores

Glencore PLC is a leading multinational commodity trading and mining company. It operates through a global network of offices and industrial assets. The company's operations encompass a wide range of metals and minerals, energy products, and agricultural products. Glencore is involved in the product...Show More

Ethical Profile

Mixed.

Glencore has faced significant ethical challenges, including a $1.186 billion CFTC fine for oil market manipulation and approximately $1.5 billion in penalties for bribery. Reports suggest the company admitted paying over $100 million in bribes and was ordered to pay a £281 million UK bribery fine. Operations have also been linked to serious health impacts, such as arsenic emissions 33 times acceptable levels at its Horne Smelter, and a 2018 toxic spill in Chad causing sickness. Critics point to four worker fatalities in 2023 and allegations of restricting worker rights. Despite these issues, Glencore has committed to net-zero emissions by 2050, invests in renewable energy projects like a 100 MW solar plant, and supports extensive recycling initiatives, processing 110,000 tonnes of materials annually. The company also launched a $25 million Community Support Fund during the pandemic.

Value Scores

Better Health for All-30
-100100
Fair Money & Economic Opportunity0
-100100
Fair Pay & Worker Respect-50
-100100
Fair Trade & Ethical Sourcing0
-100100
Honest & Fair Business-60
-100100
Kind to Animals0
-100100
No War, No Weapons-60
-100100
Planet-Friendly Business-70
-100100
Respect for Cultures & Communities10
-100100
Safe & Smart Tech0
-100100
Zero Waste & Sustainable Products-30
-100100

Better Health for All

-30

Glencore's principal goods and services, particularly its mining and smelting operations, cause severe, widespread health damage with no redeeming health benefits from the products themselves. Its Horne Smelter in Quebec emits arsenic at levels 33 times the provincial threshold, linked to elevated lung cancer rates in the local population according to a 2022 study.

1
Air pollution from the Cerrejón mine in Colombia is associated with over 400 emergency room visits and approximately 336,000 annual respiratory symptom cases among Indigenous communities, as highlighted by UN Special Rapporteurs in 2020.
2
A toxic spill in Chad in September 2018 released 85 million liters of runoff, causing burns, skin lesions, sickness, and diarrhea in at least 50 residents, including children, with human rights groups filing a complaint in January 2021 for failure to address the harm.
3
Glencore's products do not have direct safety implications for physical or mental health, addiction potential, or require clinical trials. The company does not offer health-related products requiring accessibility, manage health-related data, hold healthcare-related patents, or produce consumer food products. The company has supported health initiatives, including establishing the Bethanie Clinic in South Africa, offering HIV/AIDS awareness and prevention programs in the Democratic Republic of Congo, and providing counseling.
4
During the COVID-19 pandemic, Glencore invested over $1.6 million to prevent the virus in Peru, launched a $25 million Community Support Fund in April 2020,
5
and donated ten ventilators to hospitals in Wuhan, China, in February 2020.
6
Employee wellness programs also led to reduced stress among over 700 participants.
7

Fair Money & Economic Opportunity

0

Glencore PLC is a commodity trading and mining company, not a financial institution that offers lending, insurance, or deposit services to consumers. As such, the company does not have consumer financial products or services to evaluate against KPIs such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives, data accessibility, fair lending compliance, wealth building outcomes, financial literacy initiatives, debt burden ratio, geographic inclusion, or product simplicity. While Glencore supports local economic development through employment, procurement, and community programs, this does not constitute reinvestment in community finance or profit-sharing with underserved communities as defined by the rubric. Evidence of bribes, market manipulation, and loans to a sanctioned individual falls outside the scope of this value, which focuses on fair financial services for marginalized populations. Glencore admitted to paying over $100 million in bribes to officials across several countries to secure improper business advantages

1
. Glencore facilitated nearly $1 billion in loans to Dan Gertler, a businessman sanctioned for corruption
2
.

Fair Pay & Worker Respect

-50

In 2023, Glencore reported four worker fatalities across its operations.

1
The company has also faced multiple substantiated labor-law violations in the past three years. In 2024, the Quebec Superior Court ruled against Glencore for unlawfully dismissing security guards and interfering with union activities at its Raglan Mine.
2
This ruling followed a 2022 finding by the Quebec Administrative Labour Tribunal for similar labor law violations.
3
Additionally, in 2022, Glencore pleaded guilty to multiple bribery charges and market manipulation, agreeing to pay billions in penalties.
4

Fair Trade & Ethical Sourcing

0

Glencore reaffirms a zero-tolerance policy against modern slavery, child labor, and forced labor in its 2023 Modern Slavery Statement.

1
The company has a Supplier Code of Conduct and a Responsible Sourcing Policy, and in 2023, approximately 930 high-risk suppliers received training on the Supplier Code of Conduct.
2
Glencore conducts third-party assessments and audits; its Murrin Murrin nickel asset and Kamoto Copper Company (KCC) in the DRC achieved conformance with the Responsible Minerals Initiative (RMI) Cobalt Refiner Due Diligence Standard.
3
Glencore is a member of the RMI and the Fair Cobalt Alliance (FCA), supporting efforts to eliminate child and forced labor in artisanal and small-scale mining in the DRC.
4
Despite these initiatives, Glencore paid approximately $1.5 billion in penalties for a bribery scandal.
5
The company also faces ongoing environmental violations at its Tweefontein coalmine, including impacts on water sources and hazardous waste management.
6

Honest & Fair Business

-60

Glencore has incurred substantial ethics-related regulatory fines in the past three years, totaling over $1.3 billion USD from the CFTC and Swiss authorities. This includes a $1.186 billion fine from the CFTC for oil market manipulation between 2007 and 2018

1
, and a $152 million payment to resolve a Swiss investigation into bribery
2
. Additionally, a UK court ordered the company to pay £281 million for bribery offenses in Africa
3
. Glencore maintains an anti-corruption policy emphasizing a zero-tolerance stance on bribery
4
. In 2022, the company conducted 329 anti-corruption training sessions for 3,815 employees and contractors
5
, with these sessions tailored to specific roles
6
. However, the significant fines for international bribery indicate gaps in the policy's enforcement or guidance in high-risk markets.

Kind to Animals

0

Glencore's operations have resulted in significant negative impacts on animals. Contamination from mine sites has led to lead in fish and cattle, with 400 cattle destroyed and a pastoral station quarantined for a year from 2014.

1
Toxic metals were found in local plants and animals near the Antapaccay copper mine, and livestock died after a wastewater basin collapse.
2
A 2024 incident resulted in 178 fish mortalities of a threatened species.
3
Operations have also involved clearing forests and destroying rivers.
4
Conversely, Glencore undertakes various conservation and rehabilitation initiatives. These include rehabilitating 1,600 hectares of land in 2024
5
, planting over 500,000 trees and shrubs at McArthur River
6
, and managing over 4,770 hectares in Biodiversity Offset Areas.
7
The company invested AU$2.1 million in 2022-2023 for the critically endangered northern hairy-nosed wombat recovery program
8
, released over 6,000 hicotea turtles since 2020
9
, and monitors vulnerable largetooth sawfish.
10
Glencore aims for no net loss of biodiversity by closure against a 2020 baseline
11
and commits to avoiding exploration or mining in World Heritage and IUCN I-IV protected areas.
12
A $10,000 donation was made to a wildlife sanctuary.
13
Despite extensive information on environmental impacts and conservation efforts, the provided articles do not contain specific quantitative data points required to score the defined KPIs for 'Kind to Animals'. For instance, there is no information on the percentage of revenue invested in conservation, cruelty-free certifications, animal testing policies or volumes, humane certifications for animal operations, or the percentage of R&D budget allocated to animal-free alternatives. Therefore, no KPIs can be assigned a numerical tier based on the strict rubric.

No War, No Weapons

-60

Glencore faced allegations of illegal transactions with regimes such as Iraq under Saddam Hussein, with the CIA reporting approximately $3.2 million in illegal kickbacks to secure oil through the UN oil-for-food program.

1
The company also conducted a $659 million trade with Iralco (Iran) which raised concerns about potential indirect contributions to Iran's nuclear program.
2
In March 2022, Glencore condemned Russia's actions in Ukraine and stated it would not enter into new trading business involving Russian-origin commodities unless directed by government authorities.
3
Glencore has committed to adhering to the UN Guiding Principles on Business and Human Rights.
4
Despite this commitment, the company pled guilty to foreign bribery, agreeing to pay over $1.8 billion in fines for bribery in countries including Congo and Venezuela.
5
In December 2022, Glencore also agreed to pay $180 million to the Democratic Republic of Congo to resolve claims related to alleged corrupt practices between 2007 and 2018, committing to implement an Ethics and Compliance Programme in the region.
6

Planet-Friendly Business

-70

Glencore's total Scope 1, 2, and 3 greenhouse gas emissions were 416.4 million tonnes CO2e in 2024, a reduction from 430.1 million tonnes CO2e in 2023.

1
In 2024, the company recorded one moderate environmental incident
2
and incurred 33 water-related fines totaling approximately $6.6 million.
3
Only 4.3% of Glencore's industrial energy needs were sourced from renewables in 2024, an increase from 3.5% in 2023.
4
In terms of biodiversity, Glencore rehabilitated 1,600 hectares of land in 2024, which represents 0.084% of its 1.9 million hectares of owned or leased land.
5

Respect for Cultures & Communities

10

Glencore did not conduct free, prior, and informed consent (FPIC) processes for a planned expansion of its Antapaccay mine in Peru, which led to protests and a blockade by ten indigenous communities citing a lack of consultation.

1
In contrast, the company has established 401 agreements with Indigenous communities at its Cerrejón operation.
2
Glencore's Social Performance Policy and company requirements mandate identifying and addressing potential impacts on cultural heritage.
3
However, the NSW Independent Planning Commission refused a Glencore mine proposal due to heritage impacts, and a "clerical error" occurred in a heritage listing process, suggesting inconsistencies in protocol implementation.
4
Formal grievance mechanisms are available, including a publicly accessible hotline at OCAL sites, web platform, telephone lines, and email.
5
,
6
,
7
, which received 1,334 complaints in 2024.
8
The company also has a framework for cultural incident response, stating it takes concerns seriously, handles them promptly, and seeks to avoid, minimise, restore, or mitigate impacts.
9
,
10

Safe & Smart Tech

0

Glencore provides users with comprehensive control over their personal data, including rights to access, correct, remove, delete, limit use, object to handling, and request data return, as well as the ability to unsubscribe from communications.

1
The company has a Vulnerability Disclosure Programme
2
and aims to respond to vulnerability reports within 7 days,
3
but does not compensate reporters for identified vulnerabilities.
4
Glencore conducts routine penetration testing
5
and performs security vulnerability assessments for industrial assets.
6
A data protection impact assessment was conducted before implementing the Behavox surveillance system,
7
suggesting consideration of privacy by design principles.
8
Glencore provides training on Data Protection
9
and acknowledges user rights under Swiss, European, and United Kingdom laws,
10
indicating basic compliance with applicable privacy regulations.
11

Zero Waste & Sustainable Products

-30

Glencore demonstrates extensive waste reduction initiatives, processing approximately 110,000 tonnes of recycled materials annually

1
and over a million tonnes of electronic scrap since the 1990s,
2
recovering significant amounts of copper and precious metals.
3
The company utilizes ISACYCLE™ technology to process 60,000 tonnes of e-material yearly
4
and has modernized its Sudbury smelter to increase recycled throughput.
5
Other initiatives include using slag as construction material
6
and repurposing a mine site for composting.
7
Glencore also engages in partnerships for battery and copper recycling.
8
,
9
,
10
,
11
,
12
In hazardous waste management, the company remediated the Amsul Dam at its Townsville copper refinery, removing and disposing of hazardous water, sludge, liner, and impacted soil.
13
However, Glencore received 33 water-related fines totaling approximately $6.6 million in 2024.
14

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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.