PHOENIX, AZ, May 22, 2024 – Freeport-McMoRan has again been named one of the 50 most community-minded companies in the United States with its inclusion on The Civic 50 list that recognizes corporate volunteerism and community engagement.
Freeport has made the list 11 times since its inception in 2012. The list is compiled by the Points of Light Foundation, a nonpartisan global nonprofit organization. It recognizes companies with annual U.S. revenues of at least $1 billion that have demonstrated outstanding achievement in investment of resources, stakeholder engagement and volunteerism that is embedded in their policies and demonstrate measurable impacts.
The Civic 50 program creates a roadmap for companies committed to using their time, talent and resources to drive social impact in their business and communities, according to the announcement.
"We work hard to make sure our operations deliver value for our communities and provide the opportunity for stakeholders to engage and take action in ensuring resources are invested in meaningful projects that develop long-term resilience," said Tracy Bame, Director of Social Performance.
"Our commitment to excellent social performance is embedded in our culture, integrated into our business decisions and activities, and based on a goal of building trust with communities. The Civic 50 is one of several ways we seek to learn about and validate the efficacy of our programs, and we are so pleased to make the list."
Impact of investment far-reaching
Freeport made community investments of about $50 million in the United States in 2023. To maximize the value of the time and resources it dedicates to communities, the company works with a third-party organization, True Impact, to quantify the number of people benefitting and assess the resulting outcomes.
An analysis of 47 programs representing about $5 million of Freeport's community spending in the U.S. shows more than 40,500 people experienced positive social impacts. Those include such things as improved academic performance; increased access to community resources; improvements in safety, health and well-being; and financial strength through improved employment, professional skills and increased income.
Freeport invested about $187 million in community programs worldwide in 2023. Collaboration with employees, host communities, indigenous people and other stakeholders is a high priority at Freeport and a key component of the company's "Sustainability Pillars" outlined in its most recent Annual Report on Sustainability.
The Civic 50 rankings are the only such assessment that exclusively measures corporate involvement in communities, according to the organization's website. The Civic 50 was launched in 2012 as a partnership between Points of Light, the National Conference on Citizenship and Bloomberg LP.