Freeport-McMoRan is committed to sourcing, producing, and distributing metals and minerals responsibly across our entire value chain. Our commitment will take on greater importance in the years ahead, as we expect global demand for copper to increase, due in part to copper’s key role in contributing to the technologies that will enable the energy transition.
The European Union and several of its member states have developed due diligence requirements in supply chains covering human rights risks and environmental issues. These may apply to companies with operations located within the European Union and globally for products that are imported into the region. In preparation for these requirements, as well as increasing expectations from customers along the value chain, we continue to work diligently to advance its supply chain management models by incorporating ESG risks into its systems and tools for decision making and supplier management.
Supply chains globally continue to be impacted by production shortages and political instability, reinforcing the need for resilient, agile and transparent supply chain models. Despite these challenges, we are proud of our ability to manage our supply chain effectively and responsibly and we aim to ensure continuity of supplies necessary for our operations in a responsible way moving forward.
Our responsible value chain program focuses on three key programs: (1) identifying and mitigating risks in our supply chains through our own responsible sourcing efforts for goods, services and minerals, (2) product stewardship to manage the in-use risks of our products and by-products, and (3) working to better understand the full life cycle impacts of our products along the value chain.
Climax Molybdenum Company, a subsidiary of Freeport-McMoRan, sustainability programs are consistent with commitments set forth in company-wide policies defined by Freeport-McMoRan. To learn more, please see our website: fcx/sustainability or 2022 ANNUAL REPORT ON SUSTAINABILITY
PHOTO DESCRIPTION: On January 9th, 2018, Climax Molybdenum Company celebrated the production of 2 billion pounds of molybdenum, the same year Climax celebrates its 100th anniversary. Molybdenum improves the strength of low alloy steel, making the element ideal for lightweight applications such as fuel-efficient vehicles, power generation turbines, and aerospace components.