NYSE American:SVM $2.74 -0.04 TSX:SVM $3.50 -0.05

Sustainability

Governance

  • Introduction
  • Committees & Policies
  • Risk Matrix
  • Awards

At Silvercorp, we understand that strong corporate governance requires good leadership to ensure all practices are up to date and meeting all applicable standards, in addition to ensuring our vision and values are integrated into all areas of our business. Our board and executive team are guided by local, national, and international legislation and governance standards, stock exchange rules and regulations, industry best practices, and Company charter, and continuously review such standards and processes to ensure we are maintaining compliance and continuing to generate sustainable value for our stakeholders. We recognize that it is the job of our board and management team to continue to evolve in order to effectively manage the environmental, social and governance risks associated with our operations and are committed to finding new and innovative approaches to such challenges.

The mining industry operates across complex jurisdictions and often in emerging and/or unpredictable political environments, which can be predisposed to regulatory uncertainty. This uncertainty has caused the industry and regulatory bodies to place increased pressure on mining companies to focus on governance issues such as anti-corruption, money laundering, and Foreign Corrupt Practices Act (FCPA). Moreover, increased support for ESG values has caused the public, governments, and stakeholders to call for increased transparency and disclosure detailing the impacts operations have on the environment and communities in which they operate. In order to succeed, mining companies must commit to ethical and responsible mining in all aspects of their business, starting with their business ethics and governance.

For more information on our governance, click here.

Our company values, respect, equality, and responsibility, are reflected in our corporate policies and serve as guidelines for our various committees when approaching ESG reporting and disclosure. We aim to incorporate ESG factors and responsible business practices into all aspects of the company and operate as transparently as possible.

As of March 31, 2021, Silvercorp’s Board consisted of five directors, four of whom are independent under the applicable securities laws. The Company assesses nominees against certain criteria such as experience and knowledge of the Company and its operations, ethics and integrity, competency, and diversity. The Board, with its extensive experience, oversees the Company’s strategic development, key risks, and long-term development. The Board also considers and approves major decisions, supervises business operations, and evaluates the Company’s performance. In exercising their powers and discharging their duties, the directors are required to act honestly and in good faith with a view to the best interests of the Company, and to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. Each director is appointed for a term of one year at the annual general meeting of shareholders and committee memberships are re-constituted after each annual general meeting.

In Fiscal 2021, Silvercorp established an ESG Management Center in Beijing, headed by Vice President Mr. Lichang Peng. The ESG team works to develop the Company’s sustainability plan and implement and coordinate key tasks. The specific functions include: following ESG-related policies and regulations and evaluating the completeness and effectiveness of the Company’s ESG policies and systems; identifying ESG risks and opportunities and formulating management policies and plans; organizing the preparation of sustainability reports and other ESG disclosure documents. Silvercorp's Board oversees the Company's sustainability-related policies, strategies, and performance. A separate Sustainability Committee is being established for Fiscal 2022 to oversee the Company’s work related to ESG performance and initiatives, to provide guidance on assessing ESG risks and opportunities, and to review the annual sustainability reports, among other responsibilities. The establishment of this committee will not only strengthen our ESG performance but will also assist in implementing our sustainability strategy moving forward.

For more information regarding our board members, committees, or policies, please see our Information Circular here, click here, or visit the Governance page.

Anti-Corruption Policy Whistleblower Policy Code of Conduct & Ethics Corporate Disclosure Policy Sustainability Committee Charter

Each year, Silvercorp conducts a companywide risk or materiality evaluation in order to identify the critical material issues associated with our operations. This evaluation helps us analyze the risks and identify key issues for our stakeholders, reporting, and future targeting. This evaluation also aids in informing our overall sustainability strategy and the creation of our materiality matrix.

Stakeholders' trust and support are pivotal to Silvercorp's sustainable development. We continue to optimize stakeholder engagement mechanisms to drive high-quality and sustainable development that balances economic growth, environmental protection, and social harmony. In Fiscal 2021, we identified, assessed, and prioritized our top sustainability topics based on input collected from stakeholders through questionnaires, and identified a range of ESG risks with material impacts for all stakeholders. The process resulted in a materiality matrix that illustrates how each sustainability issue ranked regarding its “impact on the Company's sustainable development” and “significance to stakeholders.” The results of this materiality assessment have been reviewed and confirmed by the ESG Management Center and the Board.

For more information on our approach to risk management and stakeholder engagement, click here.

The key identified issues, or topics of interest included in our matrix are as follows:

Environmental Social Governance
1 Environmental Management System 8 Occupational health and safety 15 TMF Management and utilization
2 Resource utilization and management 9 Employee rights protection 16 Research and innovation
3 Waste discharge and management 10 Respecting human rights 17 Compliance management
4 Land reclamation and ecological restoration 11 Community engagement and relations 18 Risk management
5 Disaster prevention and emergency management 12 Vocational training and development 19 Corporate governance
6 Climate change mitigation strategies 13 Responsible supply chain 20 Product and service quality
7 Biodiversity protection 14 Community development 21 Business ethics and transparency

At Silvercorp, we strive to find innovative ways to achieve excellence in all areas of our Company. In fiscal 2020, Silvercorp was recognized once again as a leader in the communities in which we operate for our responsible mining practices, strong community relations and stewardship, and our commitment to health and safety. Silvercorp is honored to be the recipient of the following awards:

Time Entity Awards/Recognition
March 2021 Henan Found 2020 Luoyang Outstanding Unit for Production Safety
January 2021 Silvercorp "2020 Responsible Brand Award" at China Charity Festival
January 2021 Henan Found Awarded A Credit Grade Enterprise Certificate by Henan Government
December 2020 Henan Found China Red Cross Medal for Giving
December 2020 Henan Found 2020 Top 100 Enterprises in Luoyang
December 2020 Henan Found 2020 Top 20 Private Enterprises in Luoyang
December 2020 Guangdong Found Yunfu City Enterprise for Clean Production
December 2020 Guangdong Found Outstanding Unit for Epidemic Response recognized by the Yunfu Municipal People's Government
November 2020 Henan Found 2020 Environmentally and Socially Responsible Enterprise
November 2020 Guangdong Found Pilot Unit for Digital Construction of Green Mines
November 2020 Guangdong Found 2020 Model Enterprise for Green Development
September 2020 Henan Found Luoyang 2020 “99 Public Welfare Day” Caring Enterprise for fundraising for courageous acts
August 2020 Henan Found Model Unit for High-quality Development in China Mining Industry
July 2020 Guangdong Found Outstanding Workers' Home of Yunfu City
June 2020 Henan Found Winner of National “Ankang Cup” Contest
June 2020 Guangdong Found Executive Council Member of China Green Development Alliance

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