2007 Responsibility Report - English (PDF) - Barrick Gold Corporation

operation of the Company. In 2007, the Board was comprisedof 15 members, 10 of whom are independent, consistent withthe applicable corporate governance standards of securityauthorities and/or stock exchanges. With respect to corporatesocial responsibility matters, the Board has an Environmental,Health and Safety Committee which is responsible for monitoringand reviewing environmental, safety and health policies andprograms. To promote the effective functioning of the Board ofDirectors and its Committees, the Board has adopted a set ofcorporate governance guidelines and formal mandates settingout the roles and responsibilities of the Board and Committees.As well, senior management has an Executive Environmental,Health, Safety and Sustainability (EHSS) Committee whichreviews corporate social responsibility performance trends andissues and approves EHSS strategic business plans and setsCompany policy.Risk ManagementWe believe that as part of our responsibility to create value forour shareholders, employees and local communities, we mustunderstand and manage the risks associated with our business.To do so, we have implemented a variety of programs toidentify, evaluate and address the issues that either threatenthe achievement of our strategic objectives or represent opportunitiesfor competitive advantage.Membership and InitiativesAt Barrick, we maintain a continuous dialogue with the public,governments and regulators at all levels regarding regulatoryissues and other items of business interest. This means contributingto government inquiries and requests for information,engaging on issues, and undertaking research on the impactsof our activities. We are members of various industry associationsand advocacy organizations. Early in 2008, Barrickbecame a permanent member of the International Council onMining and Metals and we committed to partner with theClinton Giustra Sustainable Growth Initiative to improve childnutrition and support sustainable business development inPeru. We work with the Mining Association of Canada topromote Towards Sustainable Mining.Our relationships with non-government organizations, universitiesand research institutes support our Corporate SocialResponsibility (CSR) activities and research initiatives. Forexample, our partnership with the African Medical & ResearchFoundation (AMREF) strengthens our fight against HIV/AIDSin the communities around our African sites.Additional information on our memberships and partnershipsis available at www.barrick.com/CorporateResponsibility.Whether at the early stages of a project development or inthe processing of our financial transactions, Barrick takesresponsibility to assess and mitigate risk. Risks, such as thoseimpacting the health, safety, and security of our employees, ourneighboring communities and the environment in which weoperate, as well as our operational and financial performance,are assessed using both qualitative and quantitative methods,and appropriate solutions implemented. Our efforts to managerisk are validated through comprehensive assurance programs.Barrick Responsibility Report 2007 9