We believe that our Sustainability Policy is leading edge in our industry. This policy is the new model, which defines how Placer Dome understands and structures its role in society. Our Sustainability Policy sets out the criteria by which we expect to be judged, to which we will be held accountable. We are developing procedures to measure and verify our contribution to sustainability. The North-South Institute has rightly focused on mining as a key sector linking Canada to the developing world.
Mining accounts for a large share of Canada's capital exports to developing countries.
It can be asked, however, whether corporations have the capacity to deal effectively with the complex social, environmental, and economic challenges of most developing countries. Local communities may not have the capacity to decide their optimal future in relationship to a mine, or to negotiate a fair share of benefits. National and regional governments may not have the capacity to regulate the environmental impact of mining, and to channel revenues received from mining into sustainable social and economic progress. Moreover, all the issues relating to sustainability are interrelated and must be dealt with holistically. Social issues, such as human rights or indigenous peoples' entitlements, cannot be considered apart from environmental issues, such as pollution impacts and biodiversity preservation, which are related to economic issues such as wealth distribution and economic empowerment.