Overview of the Gold ESG Focus 2026 Report
- Released by Metals Focus, the report provides an annual analysis of ESG trends across the gold mining industry using a decade of data from 2016 to 2025 (p. 1, p. 5).
- The analysis covers 18 major gold mining companies and highlights industry-wide initiatives like the LBMA’s Responsible Gold Guidance and the Gold Bar Integrity programme (p. 1, p. 5).
Greenhouse Gas Emissions and Intensity Trends
- Total Scope 1 and 2 absolute emissions remained virtually flat year-on-year, but emissions intensity rose by 7.0% y/y to 0.9tCO2e/oz AuEq due to lower gold supply (p. 1).
  - Scope 1 emissions rose after two years of declines, driven by production changes and M&A activity led by AngloGold Ashanti, Barrick Mining, Gold Fields, and Polyus (p. 1).
  - Newmont recorded a 469ktCO2e decline in Scope 1 emissions following asset disposals (p. 1).
  - Scope 2 emissions fell for a fourth consecutive year due to renewable energy use and power purchase agreements (PPAs), though South African producers remained the largest emitters due to reliance on Eskom's coal-heavy energy mix (p. 1).
  - While some new properties increased absolute emissions, the Côté and Back River mines lowered emissions intensities for IAMGOLD and B2Gold, respectively (p. 3).
Economic Contributions and Governance
- Payments to governments reached a record $18.2 billion in 2025, representing a 77% y/y increase despite a 6.4% drop in gold production (p. 1, p. 3).
  - The increase was driven by higher gold prices, taxable earnings, royalties, and fiscal reforms, particularly in West African nations like Ghana and Burkina Faso (p. 3).
- Local procurement spending reached a record $30.8 billion, marking eight consecutive years of growth (p. 3).
  - Eight producers reported record local procurement expenditures, with supplier expectations expanding to include environmental practices, human rights, and responsible sourcing (p. 3).
Health and Safety Performance Improvements
- Fatalities fell to 21 in 2025, down from 27 in 2024, marking the lowest level since the COVID-19 pandemic (p. 1, p. 3).
  - Fatal incidents were concentrated in African and underground operations, with ground instability, mobile equipment, and material handling identified as key risks (p. 3).
  - Northern Star and B2Gold maintained fatality-free records for 12 and 10 years, respectively (p. 3).
- The workforce-weighted average lost-time injury frequency rate (LTIFR) declined over the past decade (p. 3).
  - Safety management is shifting from lagging measures to leading indicators, utilizing technology, data analytics, near-miss reporting, and remote monitoring (p. 3).

Publication of the Gold ESG Focus 2026

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