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WHO WE ARE

Our business model and strategy

Our business model

As a global producer and marketer of commodities, we are diversified by geography, products and activities. Integrating our marketing and industrial business sets us apart from our competitors in creating an enhanced entrepreneurial focus on value generation.

Our strategy

Aligned with our Purpose to responsibly source the commodities that advance everyday life, the commodities in our portfolio help support both the transition to a low-carbon economy and society’s energy needs as it progresses through the transition. 

We have three strategic priorities:

  1. Responsible and ethical business practices
  2. Effective capital management
  3. Strong operational and commercial performance 

Our priorities

  • The world needs a reliable source of responsibly produced commodities. We are committed to operating ethically and responsibly in accordance with our Values and Code of Conduct, respecting human rights and developing, maintaining and strengthening our relationships with our various stakeholders. This approach is supported by our programmes, such as those related to health, safety, the environment, social performance and ethics and compliance, which set out our goals, objectives, expectations and minimum requirements that we seek to apply consistently across the Group.
  • We recognise that a robust and sufficiently flexible balance sheet contributes to the delivery of sustainable, appropriately risk-adjusted, long-term shareholder returns and should ensure that Glencore is well placed to withstand the cyclical nature of the natural resource industry. We intend to prioritise value accretive investment into transition-enabling commodities that support the decarbonisation of energy usage and help meet the commodity demands for everyday life, as well as proactively manage our overall portfolio of industrial assets. We will also reduce our thermal coal production over time
  • We leverage our diversified business model across industrial and marketing activities to remain adept in a range of market conditions. We seek to profitably develop our marketing business, meet industrial production objectives, as well as deliver on our major projects. We also focus on the disciplined supply of commodities, which may result in the proactive curtailment of our own production from time to time.