Our governance structures are the foundation for delivering consistent, long term stakeholder value, and they reflect our commitment to ESG matters and their importance to every aspect of our company.

Our commitment to sustainability begins at the highest levels of the company, with our CEO and with active oversight from our Board. Under their leadership, FCX has designed and implemented rigorous policies and processes that drive broad engagement with, and strong accountability from, company leadership on our sustainability-related commitments.

We recognize that transparency is essential to building — and maintaining — enduring trust with stakeholders. We are committed to regularly reporting on our ESG performance, including through third-party frameworks.

Governance

OUR APPROACH

Sustainability is embedded in FCX’s values and business strategy. Governance and oversight of sustainability ultimately reside with the Board, with day-to-day management by the executive leadership and site-level management teams. Good governance requires focused and consistent leadership to ensure FCX’s values and sustainability strategy are integrated into everyday operations and business decisions. We have the structure and processes in place to facilitate effective decision making and advance our stakeholders’ long-term interests. Given the breadth and complexity of sustainability matters, our governance structure seeks to leverage our internal regulatory and technical expertise to identify sustainability-related risks and opportunities through the effective management and oversight of an interdisciplinary team.


To learn more, please see our 2023 ANNUAL REPORT ON SUSTAINABILITY


FCX Board members visit the Morenci open pit, Arizona.

Business Conduct & Policies

OUR APPROACH

call out quote boxSafford operation, ArizonaIntegrating responsible business practices across our global operations requires comprehensive and disciplined efforts. FCX is guided by its Principles of Business Conduct (PBC), the cornerstone of our commitment to ethical business practices. It defines the expected behavior of all our employees and the Board and sets forth the global principles that our workforce must follow in all activities — from complying with laws, to avoiding conflicts of interest, to treating colleagues and stakeholders with dignity and respect. The PBC highlights our core values — Safety, Respect, Integrity, Excellence and Commitment — and provides guidance for the application of these values to our business.

Our PBC and corporate governance guidelines, along with the charters of our Board committees, provide the framework for the governance of FCX and reflect our commitment to monitor the effectiveness of policy and decision making at both the Board and management levels.

POLICIES AND PRACTICES

Our PBC, together with our global policies and practices, details our expected behaviors and commitments to our stakeholders. The Board and its committees are responsible for reviewing and overseeing the company's various policies. Our core policies ― including Anti-Corruption, Business Partner Code of Conduct, Environmental, Human Rights, Inclusion and Diversity, Responsible Sourcing, Safety and Health, Social Performance and Tailings Management ― are available in local languages. To learn more about our policies & programs, please see our Corporate Governance webpage.


To learn more, please see our 2023 ANNUAL REPORT ON SUSTAINABILITY


Human Rights

OUR APPROACH

Call out quote boxFCX is dedicated to the recognition, respect and promotion of human rights wherever we do business. Respect is a core value that guides how we do business. We are committed to respecting the rights of all people, including our employees, business partners, community members and others who potentially may be impacted by our business activities. We take this obligation seriously in all aspects of our business, and we expect the same of our business partners.

We recognize that human rights are overarching and that they connect to every aspect of our business. As such, we aim to promote human rights through proactive engagement with host governments and communities and by educating stakeholders, including training our employees and contractors.

FCX respects internationally recognized human rights, including the rights under the International Bill of Human Rights, and is committed to implementing the UNGPs. We work toward continuous improvement in establishing greater institutional awareness and deeper understanding of what human rights are and how they impact every role within FCX. We also are committed to complying with the UK Modern Slavery Act, aimed at minimizing the risk of slavery and human trafficking throughout our business and supply chain.

On a broader scale, we participate in multi-industry dialogues on respect for human rights ― including BSR’s human rights working group; two World 50 groups that provide executive-level peer-to-peer collaboration and information exchange on multiple topics, including human rights and responsible supply chains; ICMM working groups; and the Voluntary Principles Initiative. These external initiatives, together with local and international-level stakeholder engagement, influence our human rights approach. Our work also continues to benefit from the support of third-party human rights consulting firms, which provide advisory support on our UNGPs implementation and assist in implementation of Human Rights Impact Assessments (HRIAs).

At the Board level, the CRC provides oversight of our human rights program. The CRC receives reports on, among other topics, relevant human rights strategy updates, HRIA results and actions, and significant incidents. At the management level, the SLT provides oversight of our human rights plans, and the program is directed and managed by our corporate and site-level sustainability teams. Our PBC and other core policies ― including Anti-Corruption, Environmental, Inclusion and Diversity, Safety and Health, Social Performance, and Tailings Management ― support the application of our Human Rights Policy. These policies and supporting management systems, along with relevant external standards and initiatives, guide our management of human rights.


To learn more, please see our 2023 ANNUAL REPORT ON SUSTAINABILITY


 

Responsible Value Chains

OUR APPROACH

call out quote boxCore sample at Morenci operations, Arizona.FCX is committed to sourcing, producing and distributing metals and minerals responsibly across our entire value chain. This includes working to ensure continuity of supplies necessary for our operations in a responsible manner. We are committed to identifying and mitigating risk in our supply chains while striving to meet the requirements of global markets and increasing demands from our customers, end users and traders who sell our products. FCX continues to work diligently to advance its supply chain management by incorporating sustainability risks into its systems and tools for decision making and supplier management.

Our responsible value chains efforts focus on three key activities: (1) identifying and mitigating risk in our supply chains through our own responsible sourcing efforts for goods, including minerals and metals, and services, (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.

Supplier Evaluation and Monitoring

We continue to improve our systems and processes related to due diligence, risk-monitoring and in-depth assessments to allow for quicker access to supplier data and information as well as streamlined risk identification. We use a combination of tools to understand and monitor supplier risk and to encourage compliance with our Business Partner Code of Conduct. While all suppliers (goods and services and minerals and metals) undergo the same initial screening process, minerals and metals are then subject to a secondary diligence process specifically designed to meet the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict Affected and High-Risk Areas (OECD Guidance).

Responsible Sourcing of Minerals & Metals

While all of our suppliers (goods and services and minerals and metals) undergo the same initial screening process, we maintain a specialized process specifically for suppliers of minerals and metals. This process is in alignment with our Responsible Sourcing of Minerals Policy, which commits us to producing and sourcing minerals and metals responsibly, including respecting human rights; preventing bribery, fraud and corruption; and implementing the OECD Guidance.

Our policy and implementation of the OECD Guidance is also a requirement of the ICMM Mining Principles Framework, Copper Mark, Molybdenum Mark, Responsible Steel and the London Metal Exchange (LME) Policy on Responsible Sourcing of LME-Listed Brands.


To learn more, please see our 2023 ANNUAL REPORT ON SUSTAINABILITY