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Notice on third party links

You are now leaving the Franco-Nevada Corporation website to go to a Third-party Operator website.

Franco-Nevada has provided links from this website to several other websites. Franco-Nevada has no control over information at sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Franco-Nevada does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Franco-Nevada takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information. Please be aware that in linking to these outside websites, you are leaving the Franco-Nevada Corporation website and that Franco-Nevada is not responsible for the content of any other site.


Franco-Nevada Corporation ("Franco-Nevada" or the "Corporation") is committed to responsible mining and oil and gas extraction in all aspects of its investments including with respect to environmental, social and governance issues.

Franco-Nevada’s business is investing in the business of others and Franco-Nevada does not directly operate any of its assets. The projects on which the Corporation has royalties and streams are owned and operated by independent mining and oil & gas companies which are typically publicly listed (the "Third-Party Operators").  As Franco-Nevada's management is not responsible for the day-to-day operational or development decisions at a project, it is able to focus on growth and new investments.

While Franco-Nevada does not control or influence the operations of any of the properties over which it has an interest, we are committed to responsible mining, and oil & gas extraction. Franco-Nevada seeks to address environmental, social and governance issues through a combination of the following:

  • Our policies which guide investment decisions
  • Our due diligence process for new investments
  • Our contractual rights in our royalty and stream agreements

The approach taken by Franco-Nevada has generated real value for shareholders and has allowed Franco-Nevada to acquire royalties and streams on projects operated by some of the best Third-Party Operators in the industry. Franco-Nevada is proud of its track record and the accomplishments of its Third-Party Operators which we’ve highlighted below.

Franco-Nevada is also proud to have made meaningful social contributions at the corporate and individual levels which are highlighted below. Franco-Nevada is committed to considering potential partnerships with its Third-Party Operators to support appropriate environmental and social initiatives in the communities associated with its producing assets.

In terms of Franco-Nevada’s own environmental impact, the Corporation’s carbon footprint is very small.  Franco-Nevada operates solely within office environments with a small workforce.  The Corporation has approximately 30 full-time employees of which two-thirds are located at its head office in Toronto.  The head office is situated in a LEED Gold certified building and specific statistics regarding the building are provided below.

Our Policies

Investment Principles (Environmental, Social and Governance)


Franco-Nevada Corporation (“FN” or the “Corporation”) is committed to responsible mining and oil & gas extraction in all aspects of its investments, including with respect to environmental, social (including occupational health and safety) and governance (“ESG”) matters. The Corporation’s business is investing in the business of others, principally through holding royalties and streams. The properties from which the Corporation currently receives royalties and stream deliveries are owned and operated by independent mining and oil & gas companies which are typically publicly listed (the “Third-Party Operators”). The Corporation does not exercise any control or influence over such Third-Party Operators. As well, the Company does not have the power to control or influence the operations of any such properties.

Environmental, occupational health and safety and other risks arising out of these mining and oil & gas operations are not generally direct risks of the Corporation. However, the Corporation acknowledges that it is indirectly exposed to such risks. For example, if a mine that provides royalties or stream deliveries to the Corporation is shut down for environmental reasons, it affects the Corporation. The Corporation recognizes the importance of investing in projects that are owned and operated by Third-Party Operators who share a commitment to responsible resource exploration, development and extraction. This Policy sets out the principles regarding ESG matters which guide our investment decisions and the appropriate attention to our assets.


This Policy applies to the Corporation and its direct and indirect subsidiaries (collectively or, if the context indicates, individually, referred to as “FN”).

Policy Statements

  1. FN will take into account ESG issues when evaluating new investments, including reviewing the ESG programs, policies and standards adopted by a Third-Party Operator and the implementation of such programs, policies and standards.
  2. FN will exercise diligence in choosing its investments, including the Third-Party Operators. FN’s choices will be based on overall criteria set out in the strategic review mandate reviewed regularly by the Board of Directors of FN. Such criteria will include factors such as the “quality” of the Third-Party Operators. The Third-Party Operators will be expected to comply with the applicable legal and regulatory requirements of the jurisdictions in which they operate and have a legal compliance, environmental, occupational health and safety, and a track record in social issues that is satisfactory to FN. Further indicia of “quality” Third-Party Operators will include the adoption and implementation of proper standards and practices in the management of ESG issues.
  3. FN will endeavour to negotiate its royalties and streams with a view to having the Third-Party Operators act in accordance with responsible industry standards and practices and to ensure that the Third-Party Operators provide sufficient transparency into their operations to facilitate FN’s assessment of the Third-Party Operator’s performance and management of a project including with respect to ESG issues.
  4. FN will take into account relevant ESG issues when exercising its contractual rights and remedies.
  5. FN will pay appropriate attention to public disclosure and reports from the Third-Party Operators for updates on any of its assets in order to be apprised of any developments including with respect to ESG issues. Upon the occurrence of an adverse event at a project, FN will endeavour to raise the issue with and offer its guidance and expertise to the Third-Party Operator, where appropriate.
  6. FN will pay appropriate attention to ESG data reported by the Third-Party Operators on the assets over which it holds interests and will endeavour to report relevant, material information to its stakeholders.
  7. FN is committed to supporting the Third-Party Operators and the mineral and oil & gas industries generally in their efforts to reduce their environmental impact, improve the local communities in which they operate and provide appropriate disclosure of their progress on ESG issues. FN will support industry associations and councils that are committed to principles of seeking continuous improvement in sustainable resource development such as the World Gold Council, the Canadian Institute of Mining, Metallurgy and Petroleum, the Prospectors & Developers Association of Canada and the Nevada Mining Association.
  8. FN will consider co-investing with the Third-Party Operators in appropriate community and social projects in local communities where its assets are located when invited to do so by the Third-Party Operator.
  9. FN is committed to continuous improvement and will, on an ongoing basis, consider enhancements to its ESG programs and policies.


Effective November 7, 2016. This Policy supersedes any written or oral representations that are in any way inconsistent with it.

Corporate Responsibility


Franco-Nevada Corporation (the “Corporation”) is an entity with a very small workforce operating solely within an office environment. This Policy provides the framework for the Corporation’s approach to addressing its environmental and social responsibilities as it relates to the Corporation’s offices located in Toronto, Barbados, Denver and Perth.

The Corporation is also committed to taking into account environmental, social and governance issues when evaluating new investments. The Corporation has set out its approach regarding such issues in its Investment Principles Policy (Environmental, Social and Governance).


This Policy applies to the Corporation, its direct and indirect subsidiaries (collectively or, if the context indicates, individually, referred to as “FN”) and all employees of FN.

Policy Statements

  1. FN will comply with the applicable legal and regulatory, environmental, health and safety, and human rights requirements of the jurisdictions in which it operates. FN is committed to having all of its employees comply with its Code of Business Conduct and Ethics.
  2. Employees of FN will endeavour to make a positive impact on the environment and on social issues including, in the procurement of goods and services in support of FN’s offices.
  3. FN is committed to supporting its employees’ efforts to reduce their environmental impact in the workplace and to contribute to society through non-profit charitable activities.
  4. FN will maintain open lines of communication with the stakeholders in the communities in which it is located, and will take into account their concerns and suggestions.


Updated effective November 7, 2016.  This Policy supersedes any written or oral representations that are in any way inconsistent with it.

Health and Safety Policy


This Policy provides the framework for Franco-Nevada Corporation’s approach to addressing the health and safety risks inherent in its business, with the intention of complying with the applicable legal and regulatory requirements of the jurisdictions in which it operates and supporting loss prevention practices. Franco-Nevada Corporation’s business is investing in the businesses of others, principally through holding royalties and streams. Therefore health and safety are not typically direct risks of Franco-Nevada Corporation’s operations.


This Policy applies to Franco-Nevada Corporation and, its direct and indirect subsidiaries (collectively or, if the context indicates, individually, referred to as “FN”) and all employees of FN.

Policy Statements

  1. FN will comply with the applicable legal and regulatory health and safety requirements of the jurisdictions in which it operates.
  2. FN’s offices will be in facilities that demonstrate a standard of health and safety management on behalf of its occupants that FN considers satisfactory.
  3. All FN employees have responsibility for maintaining a safe and healthy workplace by following health and safety rules and practices and reporting accidents, injuries and unsafe equipment, practices or conditions to a member of the Committee of Executive Officers. Training will be provided for procedures to pursue an injury-free workplace and to take appropriate actions during emergency situations in the facilities.
  4. Violence and harassment in the workplace are specifically prohibited. Workplace violence includes the exercise of physical force by a person against an employee that causes or could cause physical injury to the employee, an attempt to exercise physical force against an employee that could cause physical injury to the employee, and a statement or behaviour that it is reasonable for an employee to interpret as a threat to exercise physical force against the employee that could cause physical injury to the employee. Harassment means a course of comments or actions that are known, or ought reasonably to be known, to be unwelcome. Employees of FN who are victims of, or become aware of, violence or harassment in the workplace are required to comply with FN’s Discrimination, Harassment & Equal Opportunity Policy, which incorporates FN’s harassment and workplace violence policy and program.
  5. FN is committed to ensuring a safe work environment for its employees by reducing the risk of incidents in the workplace in which drugs or alcohol are a contributing factor, and deterring the use of alcohol, drugs and other substances where such use could negatively affect work performance and safety. FN expects that all employees will be free of alcohol and drugs which could impair their judgment or affect their ability to perform their job safely while in the workplace. The use, possession, distribution or offering for sale of illicit drugs, drug paraphernalia or unprescribed drugs for which a prescription is legally required will not be tolerated in the workplace.


Updated effective November 7, 2016. This Policy supersedes any written or oral representations that are in any way inconsistent with it.

Our Process

Due Diligence Process in New Acquisitions

Since our initial public offering in December 2007, we have continued to build our asset portfolio through additional acquisitions, adding numerous royalty, stream and other interests.

When evaluating new opportunities, we employ extensive methods to identify, assess and, where possible, mitigate our risks prior to entering into royalty and stream agreements.  Franco-Nevada’s management team uses a multi-disciplinary approach when evaluating potential transactions.  Our team consists of professionals with significant experience and expertise in the fields of geology, mining, metallurgy, engineering, oil & gas, finance and law.  Environmental, social and governance issues relate to a number of these disciplines and Franco-Nevada’s experience in evaluating and structuring royalty and stream transactions has given Franco-Nevada significant exposure to and experience in addressing such issues.

In addition to relying on management’s expertise, Franco-Nevada benefits from the experience and expertise of its Board of Directors.  Board members are very active in the review of potential investments including participating in due diligence and providing technical, operational, political, financial, environmental, corporate social responsibility and other expertise.

When conducting due diligence, Franco-Nevada routinely engages third-party experts to assist in its evaluation of new investments.  Third-party experts that may be engaged include external legal counsel (including in the jurisdictions in which a project is located), technical consultants, environmental consultants, corporate social responsibility consultants and governance consultants, for the purpose of assessing political, environmental, social, legal, technical and regulatory issues in applicable jurisdictions and the Third-Party Operator’s management of the same. These third party experts report their findings to management and/or the Board of Directors.

The due diligence normally conducted by Franco-Nevada generally includes, but is not limited to, the following:

  • review of the historical record of the Third-Party Operator and the specific project from both public sources as well as information provided by the Third-Party Operator
  • review of the general conditions of the jurisdiction in which the project is located, including local government and local community relations
  • analysis of the plans and prospects for the Third-Party Operator and project going forward
  • analysis of the environmental, social and governance programs and policies put in place by Third-Party Operators and the effectiveness of same
  • country risk analysis where the project is located
  • site visits to the project with third-party consultants, as appropriate
  • extensive engagement with the Third-Party Operator’s management team

When conducting due diligence, environmental, social and governance issues are considered as these are critical to the long-term success of a project and the industry generally, which, in turn, is key to Franco-Nevada’s success.  Franco-Nevada will typically assess the following as part of its due diligence:

  • whether any external certifications have been obtained by the Third-Party Operator or project
  • whether the Third-Party Operator is a member of the World Gold Council and/or has committed to the principles of the International Council on Mining & Metals or other relevant standards
  • water management and reduction plans
  • other environmental programs and initiatives put in place by Third-Party Operator including carbon reduction and biodiversity protection
  • operating plans and closure plans
  • community initiatives and engagement with indigenous peoples
  • safety records
  • workplace standards, protections and policies

In addition, when engaging in exploration efforts as part of advancing a property or to conduct due diligence in advance of undertaking an investment, Franco-Nevada undertakes to be guided by the Principles and Guidance for a Framework of Responsible Exploration as set forth by the e3Plus program of the Prospectors and Developers Association of Canada (the “PDAC”).

Franco-Nevada also uses a proprietary ranking system to evaluate potential investments. Assets are ranked on a number of quantitative and qualitative factors (including environmental, social and governance factors) to ultimately come up with a ranking against Franco-Nevada’s existing assets as well as other mining projects. Franco-Nevada aims to hold highly ranked assets in its portfolio.

Following the completion of due diligence, if management proposes to proceed with a transaction in excess of a threshold amount, it must first seek Board approval.  Below this threshold amount, management has discretion to proceed with an investment but must report the transaction to the Board in order to refresh its executive authority before being able to proceed with another investment.

The due diligence process will vary in each case as Franco-Nevada deems necessary or appropriate in the circumstances, all applied on a risk-adjusted basis. For instance, the purchase of newly created royalties or streams, requiring the negotiation of a binding agreement with the Third-Party Operator of a project, will typically permit more comprehensive due diligence than the acquisition of existing royalties where Franco-Nevada is acquiring royalty interests, often within a royalty portfolio on an as-is, where-is basis, from a third party rather than the Third-Party Operator. In such latter cases, Franco-Nevada must rely on the limited information provided by the third party as well as any publicly available information with respect to the Third-Party Operator and the project. The due diligence process will also vary based on the jurisdiction, type of mineral, and whether the project is an exploration, advanced or producing project, among other things.

Ongoing Management Through Contractual Rights

When negotiating new investments, we endeavour to negotiate our royalties and streams to provide us with information from the Third-Party Operators as well as to mitigate risk.

Out royalty and stream agreements typically include, the following types of provisions:

  • Reporting Obligations.  Royalty and streaming agreements typically contain a series of reporting obligations including the delivery of monthly and annual reports, updated mine plans, forecasts and other documentation, which serve to keep Franco-Nevada informed of operations. Third-Party Operators are also typically required to notify the Corporation of any material adverse changes to a project or its operations. Upon a material adverse change occurring, Franco-Nevada maintains regular communications and offers its guidance and expertise to the Third-Party Operators where appropriate.
  • Audit and Inspection Rights.  Franco-Nevada may be entitled to audit the books and records of the Third-Party Operators on a periodic basis and may access and inspect the properties comprising the project. These rights provide Franco-Nevada further insight into the operations and management by the Third-Party Operators of such operations and confirm compliance with the terms of the agreement.
  • Operating Covenants.  Royalty and streaming agreements typically contain certain operating covenants designed to ensure that Third-Party Operators are conducting mining operations in accordance with applicable law and responsible practices.
  • Transfer Restrictions.  Franco-Nevada’s royalty and streaming agreements may have restrictions that either (a) require consent for the Third-Party Operator to transfer the project, or (b) otherwise establish the circumstances in which such transfer is permissible. Such constraints are intended to ensure Franco-Nevada continues to be partnered with a quality operator over the life of the agreement.
  • Remedies. Streaming agreements afford Franco-Nevada the ability to terminate and recover specific remedies upon a material breach of the contractual provisions, providing the Corporation with the flexibility to exit unsuitable arrangements.

There can be no assurance that the Corporation will be able to identify or mitigate all risks relating to holding royalty and stream interests in respect of properties, mines and projects.

Our Third-Party Operators

Franco-Nevada holds royalties and streams over projects that are operated by some of the largest and most recognized Third-Party Operators in the world which represent some of the largest royalties, streams or interests in the Franco-Nevada portfolio.

Below, we have highlighted selected accomplishments of the Third-Party Operators and have provided links to the various sustainability reports or websites that they produce on a regular basis1. Franco-Nevada is proud of the accomplishments and the ongoing commitment to responsible production that such Third-Party Operators have demonstrated.

Asset: Candelaria
Country: Chile
2016 Revenue (%): 14.5%

Web Link: Website
Sustainability Report: Link

Environmental Highlights

  • Candelaria 2030 Project's environmental impact assessment approved by the Chilean authorities which allows for the expansion of current operations and construction of a new tailings facility. Demonstrates local and federal commitment to the operation
  • 88% of water used was ocean water treated at the desalination plant. At the port site, a monitoring program is conducted to monitor for potential impacts from the desalination plant’s ocean discharge, from the port facilities and from concentrate shipment upon aquatic life and fish resources. No negative impact upon biodiversity have been recorded since the mine and port operations commenced.
  • Commenced the implementation of the Candelaria closure plan despite the fact that the operation will operate for many years to come. The plan targets the social impact considering the operation is a major employer in the region.

Social Highlights

  • Close to $13 million invested in community programmes at Candelaria. Investments include flood disaster relief funded and performed by Lundin for a catastrophic flood that hit the Copiapó region in March 2015, as well as funds expended pertinent to a multi-year community investment agreement reached with the Municipality of Tierra Amarilla for assistance to this under-privileged area.
  • Candelaria recognized as the safest mine in the Atacama Region

Governance Highlights

  • Signed the UN Global Compact in early 2016
  • Aligned with the Government of Canada’s Enhanced Corporate Responsibility (CSR) Strategy as well as the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights, IFC Performance Standards on Social and Environmental Sustainability, Global Reporting Initiative (GRI) and Prospectors and Developers Association of Canada (PDAC)

Asset: Antamina
Country: Peru
2016 Revenue (%): 12.3%

Web Link: Antamina Website
Sustainability Report: Link
Member: ICMM

Environmental Highlights

  • Joint venture operation (BHP, Glencore, Teck and Mitsubishi) has extensive website and report dedicated to the single asset
  • Environmental Management system based on ISO 14001 certification

Social Highlights

  • In addition to supporting an area of 115,000 people, Antamina co-financed major projects such as: Irrigation, forestry projects, new government buildings, development for competitive farming and the implementation of youth entrepreneurship

Governance Highlights

  • The joint venture has its own management team and board of directors solely focused on the single operation

Asset: Antapaccay
Country: Peru
2016 Revenue (%): 15.2%

Web Link: Website
Sustainability Report: Link
Member: ICMM

Environmental Highlights

  • Peru’s Environmental Assessment and Enforcement Agency (OEFA) recognised nine companies from different market sectors which focus on activities to reduce environmental impact and improve sustainable use of natural resources; Antapaccay was one of only two recognized from the mining sector
  • OEFA recognized Antapaccay for its reduced carbon footprint and tree planting programme

Social Highlights

  • Antapaccay formalised its activities to support subsistence cattle farmers in the Espinar province, investing $2.2 million in the program
  • Antapaccay runs an educational initiative that supports teachers in providing students with Regular Basic Education (EBR) as well as offering EBR to local parents

Governance Highlights

  • Sustainability report complies with the core level of the Global Reporting Initiative.
  • Glencore is a signatory to the United Nations Global Compact
  • Glencore’s sustainability report complies with the core level of the Global Reporting Initiative (GRI) G4 sustainability reporting guidelines and has been externally reviewed and assured by a third party

Asset: Cobre Panama
Country: Panama
2016 Revenue (%): 0.0%

Web Link: Website
Sustainability Report: Link

Environmental Highlights

  • First Quantum has created a network of programs to mitigate and remediate environmental impact around the Cobre Panama project.
  • The Biodiversity Action Plan for the Cobre Panama mine calls for the reforestation of more than 10,000 hectares in and around the project site

Social Highlights

  • At its peak, the $5.9 billion project will rank among Panama’s largest employers. Once construction is completed, will continue to be significant contributor to job creation and economic growth
  • Resettlement plan has developed local school, timber homes with raised wooden floors and a reliable source of potable water

Governance Highlights

  • In addition to complying with the national laws of its host countries, First Quantum has confirmed alignment with the Universal Declaration of Human Rights, the Voluntary Principles on Security and Human Rights, the Equator Principles, the International Labour Organization's Declaration of Fundamental Principles and Rights at Work and the Extractive Industries Transparency Initiative (EITI)

Asset: MWS
Country: South Africa
2016 Revenue (%): 4.4%

Web Link: Website
Sustainability Report: Link
Member: ICMM

Environmental Highlights

  • AngloGold Ashanti is a founding signatory of the International Cyanide Management Code (ICMC) and is actively working towards certification at MWS
  • MWS reprocesses historical tailings in the Vaal River area which reduces potential long-term environmental liabilities, closure and rehabilitation expenses

Social Highlights

  • Contributed $15.2 million to community investment projects in 2015
  • In South Africa, AngloGold has focused on skills development as a driver of economic inclusion and prosperity which saw the launch of the Youth Technical Skills Development Programme in April 2015. This is a joint venture between the Mining Qualifications Authority (MQA), local authorities and AngloGold Ashanti. The objective of the initiative is to equip unemployed youth in the Eastern Cape with skills such as welding, brick-laying, carpentry and plumbing.

Governance Highlights

  • Code in place that explicitly covers, among others, issues such as anti-bribery and anti-corruption, as well as all forms of discrimination or bullying, including sexual harassment

Asset: Sabodala
Country: Senegal
2016 Revenue (%): 4.3%

Web Link: Website
Sustainability Report: Link

Environmental Highlights

  • Over 51% of water is recycled
  • Water used by Teranga is sourced from rainwater stored within the three dams

Social Highlights

  • Over $1.2 million invested in 2015 in communities close to project, $10 million investment to finance construction projects in Senegal and over 75% of supplies coming from Senegal
  • 52% of Senegalese employees from local areas

Governance Highlights

  • Has proactively sought partnerships with governments, NGOs and other organizations that have a similar interest in supporting the long-term socio-economic development of the Kedougou Region
  • In March 2017, Teranga was awarded the Environmental & Social Responsibility Award by the Prospectors and Developers Association of Canada “for outstanding community relations in the communities and surrounding regions of the Sabodala Gold Mine in Senegal, West Africa”.

Gold Quarry
2016 Revenue (%):

Web Link: Website
Sustainability Report: Link
Member: WGC, ICMM

Environmental Highlights

  • Both operations on which Franco-Nevada has royalties, Gold Quarry and Ahafo, are considered zero process discharge facilities by recycling all process water
  • Both operations are certified under the International Cyanide Management Code
  • All operations environmental management systems are certified to ISO 14001 standards

Social Highlights

  • Newmont invested a total of more than $28 million globally in 2015 to support a wide range of community investments
  • 100 percent of its sites and projects had a social impact assessment (SIA) in place
  • Newmont was ranked by the Dow Jones Sustainability World Index as the mining industry’s overall leader in sustainability as well has been recognized for leading sustainability performance (and as the most improved company in the mining sector) in the 2017 Sustainability Yearbook published by RobecoSAM

Governance Highlights

  • Newmont Ahafo has a Board of Trustees that includes community members to ensure community ownership and participation. Investments generally focus on capacity building, community health and education, infrastructure development and livelihood and skills building
  • Signed the World Economic Forum’s “Compact for Responsive and Responsible Leadership” which commits signatory businesses and their boards of directors to creating a corporate governance framework with a focus on the long-term sustainability of corporation and the long-term goals of the society.

2016 Revenue (%):

Web Link: Website
Sustainability Report: Link
Member: WGC, ICMM

Environmental Highlights

  • Goldstrike is the first operation in the western world to successfully produce gold using calcium thiosulfate leaching rather than cyanide. The tailings of the thiosulphate circuit are benign – in fact, thiosulphate is commonly used as fertilizer.

Social Highlights

  • Goldstrike opened an on-site medical clinic, possibly the first among any of Nevada’s mining operations. In addition to saving time by being able to have wellness exams and flu shots on site, the clinic brings peace of mind to workers knowing medical attention is available if needed

Governance Highlights

  • Implemented an Operations Leadership Program at Goldstrike to help senior site leaders allowing more focused and people oriented leadership at operations rather than corporate head office

Percentage of Total 2016 Mineral Revenue:


Asset: Weyburn
Country: Canada
2016 Revenue (%): 3.9%

Web Link: Website
Sustainability Report: Link

Environmental Highlights

  • Weyburn supports the advancement of carbon capture and storage through an enhanced oil recovery project at Weyburn, where 27 million tonnes of CO2 has been injected underground since 2000, the equivalent of taking more than 5.7 million cars off the road for an entire year
  • In 2015, Weyburn injected over two million tonnes of new CO2, which is the equivalent of 33 percent of Cenovus’ company-wide direct GHG emissions for 2015

Social Highlights

  • Despite the challenging economic times for the oil and gas industry, Cenovus remained committed to giving back and getting involved in local communities. In 2015, Cenovus donated over $8.4 million to 1,133 organizations.
  • Several of Cenovus’ other projects are located near several Aboriginal communities. Cenovus works closely with these communities by consulting through the entire life cycle of the project, procuring products and services from the local businesses, providing community investment funding and supporting employment and training programs

Governance Highlights

  • Cenovus’ Corporate Responsibility (CR) policy applies to the Cenovus Board of Directors and all employees, as well as contractors and suppliers who conduct activities for, or on behalf of, Cenovus. Cenovus strives to conduct business in a responsible, transparent and respectful way and comply with all relevant and applicable laws, regulations and industry standards in the jurisdictions in which it operates

Asset: STACK
Country: USA
2016 Revenue (%): 0.1%

Web Link: Website
Sustainability Report: Link

Environmental Highlights

  • Devon Energy consistently ranks high among energy producers on Newsweek’s annual “green rankings” list, which considers only companies in the S&P 500. In 2016, Devon ranked eighth among 41 companies listed in the energy sector.

Social Highlights

  • The Urban Land Institute, an international advocate for responsible land use, awarded Devon Energy Center its 2015 Global Award for Excellence in recognition of the development’s transformative impact on downtown Oklahoma City. Devon was chosen from 22 international finalists.
  • For eight straight years (2008-2015), Fortune magazine recognized Devon as being one of USA’s 100 best workplaces.

1This information is based on the public disclosure of the Third‐Party Operator and has not been independently verified by Franco‐Nevada.

Our Impact

Social and Corporate Commitment and Contributions

Franco-Nevada is a proactive member of the World Gold Council (“WGC”) Board and, in 2012, led the establishment of the WGC’s new Conflict-Free Gold Standard to combat the potential misuse of mined gold to fund unlawful armed conflict. WGC members are also committed to the principles of the International Council on Mining & Metals (“ICMM”). These principles seek continual improvement in sustainable development performance. The majority of Franco-Nevada’s gold mineral revenues are from properties operated by members of the WGC or ICMM.

Franco-Nevada occasionally makes corporate social investments in cooperation with the Third-Party Operators of its assets. In 2012, the Corporation committed to fund $500,000 over five years to support the new School of Mines at Laurentian University in Sudbury, Ontario. From 2013 to 2016 the Corporation made annual contributions of $100,000 under this commitment. Franco-Nevada is also the primary sponsor of the PDAC annual awards that recognize industry successes in exploration, development, safety, environmental stewardship and aboriginal cooperation. In accordance with Franco-Nevada’s Investment Principles Policy (Environmental, Social and Governance), the Corporation has undertaken to consider partnerships with its Third-Party Operators to support projects in the communities associated with its producing assets. Franco-Nevada is in discussions with Compania Minera Antamina to support ongoing ESG initiatives at Antamina.

Franco-Nevada’s directors and management support philanthropic and charitable efforts using their own personal resources. Our philosophy is that the Corporation is a steward of shareholders’ capital and charity is a decision best made with one’s personal resources rather than the shareholders. All members of the executive team are also involved in non-profit activities.

As a philanthropist, Pierre Lassonde, Chair of Franco-Nevada’s Board of Directors, has made generous donations to many educational institutions and is a benefactor of the Lassonde Entrepreneur Institute at the University of Utah, which pairs faculty members with business, engineering and science students and helps them write business plans. In 2011, he donated $25 million to expand the School of Engineering at York University, where the Computer Science & Engineering Building was renamed the Lassonde Building in honor of his generosity over the years. He established the Lassonde Chair in Mining Engineering at the University of Toronto in 1996, followed by the Lassonde Mineral Engineering Program and the Lassonde Institute for Engineering Geosciences in 2000. Mr. Lassonde served as Chairman of the World Gold Council from 2005 to 2009. A passionate supporter of Canadian art, Mr. Lassonde served as Chairman of the Musée National des Beaux Arts du Québec and donated $3.9 million to the museum in 2006 and following another $10 million donation, the museum honored Mr. Lassonde in 2016 by opening the Pierre Lassonde Pavilion, an iconic new addition.

In 2016, Franco-Nevada’s Chief Executive Officer, David Harquail, through his family’s Midas Touch Foundation, an organization that supports charities, hospitals, education and the arts, made a $10 million donation to support Laurentian University's Department of Earth Sciences and its Mineral Exploration Research Centre (MERC). The University's Board of Governors unanimously decided to honour the Harquail family by renaming the Department of Earth Sciences as the Harquail School of Earth Sciences and associate ongoing MERC efforts with the Harquail name. Mr. Harquail’s donation, together with concurrent federal government funding, is a step towards making Laurentian University the leading centre for mineral exploration research in the world. In addition, Mr, Harquail is on the Toronto and York region United Way Cabinet, the SOS Children's Canada board and the Laurentian Mining School Advisory board.

Environmental Profile

Our workforce operates solely within office environments and predominantly in Commerce Court located at 199 Bay Street in Toronto, Ontario. Commerce Court is certified LEED EB Gold reflecting the successful implementation of its long-term sustainability strategy and an ongoing commitment to the environment and other sustainability focused initiatives. The LEED Canada EB rating system applies a rigorous internationally-recognized standard measuring and evaluating the effectiveness of a property's sustainable practices and policies in a range of green categories. LEED EB addresses whole building cleaning, general maintenance issues, recycling programs, exterior maintenance and systems upgrades or modernization. Additional information regarding Commerce Court’s leadership and innovation in sustainability can be found on the building’s website found here: http://www.commerce-court.com/sustainability.

Franco-Nevada occupies approximately one half of one floor comprising an area of 11,370 square feet in Commerce Court, a building complex with retail (including food service) and office tenants having a total of 109 floors and 2,021,229 square feet. Franco-Nevada is an entity with a very small workforce, with an extremely limited impact on the environment. While we cannot provide the precise figures as to our carbon footprint, water consumption and usage of other utilities, below we have provided the most recent available information regarding the building complex consumption.

Water Consumption

  • Commerce Court’s 12-month water consumption (as of August 2015): 171,386,752 Litres

Greenhouse Gas Emissions

  • Commerce Court’s 12-month greenhouse gas emissions (as of October 2015): 17,435 Metric Tonnes CO2 Equivalent

Electricity Use

  • Commerce Court’s 12-month electricity use (as of October 2015): 49,946,681 Kilowatt Hours

Natural Gas Use

  • Commerce Court’s 12-month natural gas use (as of October 2015): 150,094 British Thermal Units

Waste Diverted

  • Commerce Court’s 12-month waste diverted (as of October 2015): 2,836 Metric Tonnes 


Franco-Nevada supports efforts to increase transparency and accountability in the mining and oil and gas industries. Franco-Nevada has enrolled with Natural Resources Canada and obtained an Extractive Sector Transparency Measures Act (“ESTMA”) identification number. Franco-Nevada will file and publish its ESTMA report by May 30, 2017