2023
Sustainability
Disclosure
& GRI Index
2023
Sustainability
Disclosure
& GRI Index
Dear Mosaic Stakeholders
Over the past eight years, with Joc O'Rourke leading Mosaic, we made considerable strides forward. We completed and ramped up production at the world's largest potash mine in Esterhazy, Saskatchewan, Canada. We expanded our global production footprint with an acquisition that established Mosaic as the largest phosphate producer in Brazil. We committed to 18 sustainability targets so
that society at large can understand our progress on environmental and social issues. We restructured our cost profiles. And we built a strong, efficient financial foundation by reducing debt and diversifying our funding options.
I am grateful for Joc's leadership, for his long-term mentorship - and for the strong momentum propelling Mosaic forward as I begin my tenure as the company's President and CEO.
Our momentum increased in 2023. Despite generally lower fertilizer prices, Mosaic produced net income of $1.2 billion and adjusted EBITDA of $2.8 billion and returned $1.1 billion to shareholders through share repurchases and dividends.
We made important progress: We completed the development of Esterhazy K3, which is now the world's largest potash mine and one of the most efficient. We began construction of a 1 million tonne fertilizer blending and distribution facility in Palmeirante, in the state of Tocantins, Brazil, which will provide Mosaic access to the fast-growing northern agricultural region. We began to convert part of our Riverview, Florida phosphate facility to expand production capacity of our MicroEssentials® performance phosphate fertilizer; once the facility is at full capacity, we expect that half of our U.S. phosphate sales will be non- commodity MicroEssentials products. And in January 2023, we completed the sale of Streamsong Resort for $160 million and committed to use a portion of the proceeds to fund our community investment work for the long term.
And yet, as always, we have a lot to accomplish. Regardless of how busy we might be and become, rest assured that we will maintain and even amplify our efforts to operate responsibly. Our commitment to the United Nations Global Compact and its 10 principles remains strong. I want my legacy as Mosaic's fourth CEO to include financial success, of course, and I want to be known for taking a very responsible company and making it even better.
Safety is our first priority. We have made tremendous strides in our safety performance over the past 10 years, but for the past two years our numbers have plateaued. We have a renewed, companywide mandate to drive toward zero injuries, and we intend to get there through refined training, a better management system and regular communication. It is our top job as leaders to ensure that every Mosaic employee and contractor goes home safely after every single shift.
2 2023 MOSAIC SUSTAINABILITY DISCLOSURE
2023
Sustainability
Disclosure
& GRI Index
Mosaic has been a leader in our industry when it comes to sustainability performance and reporting for many years, and we intend to maintain our lead. We are making good progress toward our 18 sustainability targets - including carbon emission and water use reductions, steps forward on our diversity and inclusion journey, and widespread education for our customers and farmers on proper use of fertilizers.
We also will continue our decades of work to make our communities better. In 2023, we invested nearly $17 million in communities around the world, and our people amplified those investments through thousands of hours of volunteer time.
Society's expectations of companies' role in the use of resources, treatment of people and participation in communities has increased dramatically. At Mosaic, we welcome and embrace this change, and we will do our part.
In 2024, Mosaic will celebrate its 20th year as a public company. I have been here for every moment of our extraordinary evolution, and I am proud to lead the company - along with more than 14,000 women and men around the world - to achieve our mission of helping the world grow the food it needs.
Sincerely,
Bruce Bodine
President and Chief Executive Officer
The Mosaic Company
3 2023 MOSAIC SUSTAINABILITY DISCLOSURE
2023
Sustainability
Disclosure
& GRI Index
Environmental, Social and Governance (ESG) Performance Targets
18 Targets, 3 Complete
We continue to approach our environment, social and governance performance with the same determination we apply to our mission: to help the world grow the food
it needs. Our short-, mid- and long-term targets, prioritized in the areas of People, Environment, Society and Company, serve as our compass as we drive progress in the areas that matter most to Mosaic and our diverse stakeholders.
ESG Performance Targets Summary
SOCIETY
6
Targets
ENVIRONMENT
5**
Targets
PEOPLE
7
Targets
5 | 0 | 1* |
ON TRACK | TRAILING | COMPLETE |
2 | 3 | 0 |
ON TRACK | TRAILING | COMPLETE |
4 | 1 | 2* |
ON TRACK | TRAILING | COMPLETE |
See all of our ESG Performance Targets on the following pages ››
*Figure reflects two completed targets that were not included in the 2022 Sustainability Report. **Five targets reflect the consolidation of mid- and long-termnet-zero targets.
4 2023 MOSAIC SUSTAINABILITY DISCLOSURE
Environmental, Social and Governance (ESG) Performance Targets
SOCIETY
Click on the target to view more content within this document.
TARGET
Engage suppliers and service providers representing key ESG areas.
2023 PERFORMANCE
Continued engagement with key transportation, raw materials and procurement suppliers and contractors on ESG topics including diversity and inclusion, greenhouse gas emissions and water tracking and management.
STATUS
ON TRACK
Increase indigenous representation in Canada in three key areas.
Achieved 11.5% procurement spend and | |
23% community investments. | ON TRACK |
Empower farmers to reduce environmental impacts by implementing 4R Nutrient Stewardship practices on 25 million acres.
4R Nutrient Stewardship practices
implemented on 15.7 million acres inON TRACK North America.
Achieve 30% performance product sales of phosphate and potash crop nutrient tonnes.
Achieved 44% sales of | |
performance products. | ON TRACK |
Focus 30% of community giving on diversity and inclusion.
29% of giving dollars allocated to diversity
and inclusion (D&I) grants, representing ON TRACK over $4.8 million in D&I community
investments globally.
Establish companywide systems for capturing volunteer hours: report results annually.
Established companywide systems in 2021.
COMPLETE
5 2023 MOSAIC SUSTAINABILITY DISCLOSURE
Environmental, Social and Governance (ESG) Performance Targets
ENVIRONMENT
Click on the target to view more content within this document.
TARGET
Enact companywide governance structure for tailings management and assess against a global standard.
2023 PERFORMANCE | STATUS |
Completed dam safety standard | |
implementation workshops. | ON TRACK |
Reduce freshwater use by 20% per tonne of product.
Achieved 4% reduction in freshwater
intensity since baseline year, representing TRAILING year-over-year intensity increase of 3%. In
2023 we saw an increase in water use due to production shortfalls, and weather and operational challenges. However, our 2025 targets remain attainable.
Reduce greenhouse gas emissions by 20% per tonne of product.
Achieved 3% reduction in GHG intensity
since baseline year, representing 11%TRAILING increase in scope 1 and 2 GHG emissions
intensity year over year. In 2023 we saw production shortfalls, and weather and operational challenges. In addition, increased ammonia year-over-year production raised our relative scope 1 and 2 emissions.
Eliminate significant environmental incidents.
Recorded a 15% year-over-year increase | |
in environmental incident frequency | TRAILING |
rate. EH&S Team has environmental | |
initiatives to drive continued improvement | |
/ reduction in severity of environmental | |
incidents in 2024. |
Achieve net-zero GHG emissions in 2040 companywide, with achieving Florida milestone emission total by 2030.*
Piloted decarbonization roadmapping | |
exercises in Canada, Brazil and U.S. | ON TRACK |
*Considered two separate targets previously.
6 2023 MOSAIC SUSTAINABILITY DISCLOSURE
Environmental, Social and Governance (ESG) Performance Targets
PEOPLE
Click on the target to view more content within this document.
TARGET | 2023 PERFORMANCE | STATUS |
Advance risk reduction to drive health and safety performance.
Reached 100% of risk reduction target,
representing execution of more thanON TRACK 298 projects.
Implement worker wellness programs that enhance worker safety and health, engage employees in development opportunities and promote inclusivity.
Progressed global wellness training
initiatives; launched computer-basedON TRACK wellness training in North America and
began evaluating this training in other regions. Added Brazil in our global wellness platform; now almost all employees in US, Canada, and Brazil have access to wellness tools and resources.
Have women representing 30% of our workforce.
17% of the workforce represented | TRAILING |
by women. |
Have 30% growth in underrepresented groups in the workplace.
Achieved 38% growth in | |
underrepresented groups. | ON TRACK |
Reach 30% growth in leadership diversity.
Reached 38% growth in diverse leadership.
ON TRACK
Update our Commitment to Inclusion and engage employees in its principles.
Refreshed and distributed in 2023.
COMPLETE
Define and track metrics that address geographic and business-specific diversity and gender balancing needs.
Quantified D&I targets replaced this | |
interim target in 2022. | COMPLETE |
7 2023 MOSAIC SUSTAINABILITY DISCLOSURE
2023
GRI Content Index
General Standard Disclosures
GRI STANDARD/ | EXTERNAL | SASB | |||
OTHER SOURCE | DISCLOSURE | LOCATION | OMISSIONS | ASSURANCE | DISCLOSURE |
GENERAL DISCLOSURES
GRI 2:
General Disclosures 2021
2-1 | Organizational details | 2023 10-K, pg. 1 | - |
2-2 | Entities included in the | 2023 10-Kand | - |
organization's sustainability | PDF pg. 21 | ||
reporting | |||
2-3 | Reporting period, frequency | PDF pg. 21 | - |
and contact point | |||
2-4 | Restatements of information | PDF pg. 21 | - |
2-5 | External assurance | PDF pg. 21 | - |
2-6 | Activities, value chain and | PDF pg. 22 | - |
other business relationships | |||
2-7 | Employees | PDF pg. 25 | - |
2-8 | Workers who are | We are omitting this disclosure | - |
not employees | due to availability of data. Mosaic | ||
does not track individual contract | |||
worker counts or demographics. | |||
2-9 | Governance structure and | Proxy Statement | - |
composition | pgs. 19-24 | ||
2-10 | Nomination and selection | Proxy Statement | - |
of the highest governance | pgs. 5-6,16-17 | ||
body | |||
2-11 | Chair of the highest | Proxy Statement | - |
governance body | pgs. 22 | ||
2-12 | Role of the highest | Proxy Statement | - |
governance body in | pgs. 18-20and | ||
overseeing the management | PDF pg. 26 | ||
of impacts | |||
2-13 | Delegation of responsibility | Proxy Statement | - |
for managing impacts | pgs. 18-20and | ||
PDF pg. 26 | |||
2-14 | Role of the highest | Proxy Statement | - |
governance body in | pgs. 7-8and | ||
sustainability reporting | PDF pg. 26 | ||
2-15 | Conflicts of interest | Proxy Statement | - |
pgs. 25-26 | |||
2-16 | Communication of critical | Proxy Statement | - |
concerns | pg. 76-78 | ||
2-17 | Collective knowledge of the | Proxy Statement | - |
highest governance body | pgs. 10-18 | ||
2-18 | Evaluation of the | Proxy Statement | - |
performance of the highest | pg. 17-18 |
governance body
8 2023 MOSAIC SUSTAINABILITY DISCLOSURE
General Standard Disclosures
GRI STANDARD/ | EXTERNAL | SASB | |||
OTHER SOURCE | DISCLOSURE | LOCATION | OMISSIONS | ASSURANCE | DISCLOSURE |
GENERAL DISCLOSURES (continued)
GRI 2:
General Disclosures 2021
2-19 | Remuneration policies | Proxy Statement | - |
pgs. 27-29 | |||
2-20 | Process to determine | Proxy Statement | - |
remuneration | pgs. 27-29 | ||
2-21 | Annual total | Proxy Statement | - |
compensation ratio | pg. 47 | ||
2-22 | Statement on sustainable | CEO Letter | - |
development strategy | PDF pg. 2 | ||
2-23 | Policy commitments | PDF pg. 26 | - |
2-24 | Embedding policy | PDF pg. 26 | - |
commitments | |||
2-25 | Processes to remediate | Mosaicco.com/ | - |
negative impacts | Our-Responsibility | ||
2-26 | Mechanisms for seeking | PDF pg. 28 | - |
advice and raising concerns | |||
2-27 | Compliance with laws and | PDF pg. 28 | - |
regulations | |||
2-28 | Membership associations | PDF pgs. 28-31 | - |
2-29 | Approach to stakeholder | PDF pgs. 32-33 | - |
engagement | |||
2-30 | Collective bargaining | PDF pg. 34 | - |
agreements | |||
Material Topics
GRI 3: | 3-1 | Process to determine | PDF pg. 35 | - |
Material | material topics | |||
Topics | ||||
2021 | 3-2 | List of material topics | PDF pgs. 35-36 | - |
9 2023 MOSAIC SUSTAINABILITY DISCLOSURE
General Standard Disclosures
GRI STANDARD/ | EXTERNAL | SASB | ||||
OTHER SOURCE | DISCLOSURE | LOCATION | OMISSIONS | ASSURANCE | DISCLOSURE | |
ECONOMIC | ||||||
Economic Performance | ||||||
GRI 3: | 3-3 | Management of | PDF pg. 37 | - | ||
Material | material topics | |||||
Topics 2021 | ||||||
GRI 201: | 201-1 | Direct economic value | PDF pgs. 38-40 | - | ||
Economic | generated and distributed | |||||
Performance | ||||||
2016 | 201-2 | Financial implications | PDF pg. 40 | - | ||
and other risks and | ||||||
opportunities due to | ||||||
climate change | ||||||
201-3 | Defined benefit plan | PDF pgs. 40-42 | - | |||
obligations and other | ||||||
retirement plans | ||||||
201-4 | Financial assistance | PDF pg. 42 | - | |||
received from government | ||||||
Market Presence | ||||||
GRI 3: | 3-3 | Management of | PDF pg. 43 | - | ||
Material | material topics | |||||
Topics 2021 | ||||||
GRI 202: | 202-1 | Ratios of standard entry | PDF pg. 44 | - | ||
Market | level wage by gender | |||||
Presence | compared to local minimum | |||||
2016 | wage | |||||
202-2 | Proportion of senior | PDF pg. 44 | - | |||
management hired from | ||||||
the local community | ||||||
Indirect Economic Impacts | ||||||
GRI 3: | 3-3 | Management of | PDF pg. 43 | - | ||
Material | material topics | |||||
Topics 2021 | ||||||
GRI 203: | 203-1 | Infrastructure investments | PDF pgs. 45-46 | - | ||
Indirect | and services supported | |||||
Economic | ||||||
Impacts | 203-2 | Significant indirect | PDF pgs. 47-48 | - | ||
2016 | economic impacts | |||||
Procurement Practices | ||||||
GRI 3: | 3-3 | Management of | PDF pg. 43 | - | ||
Material | material topics | |||||
Topics 2021 | ||||||
GRI 204: | 204-1 | Proportion of spending | PDF pg. 48 | - | ||
Procurement | on local suppliers | |||||
Practices | ||||||
2016 | ||||||
10 2023 MOSAIC SUSTAINABILITY DISCLOSURE
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The Mosaic Company published this content on 26 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 June 2024 15:02:34 UTC.