At Endeavour Silver, we believe the mining industry plays a role in the global achievement of the Paris Agreement 2°C target and in the global transition to a low-carbon economy. We recognize that investors and other stakeholders are concerned about climate change and want to know how companies like Endeavour are addressing it.

As a small player in the global mineral market, we are committed to doing our part to reduce carbon emissions. We set climate-related priorities and targets as part of our Sustainability Strategy 2022-2024 and continue to align our actions and disclosures with the recommendations of the Task Force on Climate-related Financial Disclosures.

To further accelerate our progress in this area, we are building a Climate Action Plan to guide our efforts over the next five years to promote low-carbon development at our mining operations. The plan will focus on three strategic pillars –planning, people and performance – and act as a roadmap to mitigate our carbon footprint, navigate potential climate risks facing the business, and leverage opportunities for growth in supporting a lower-carbon future.

To help inform the plan, in 2023 we undertook a number of activities. We started assessing the energy and GHG emissions profiles of our producing operations (Scope 1 and 2) to set a benchmark for each site.

We then held workshops with our site teams in Bolañitos and Guanaceví to gather their emissions-reduction ideas, with the objective of identifying potential initiatives at each site tofurther assess from a cost-benefit perspective. In total, 45 initiatives were put forward for further consideration.

Following the workshops, the project team held meetings and conducted research to evaluate the technical, operational and financial viability of the initiatives. Based on these insights, 20initiatives were selected, 10 in each mine, that represent the best opportunity for emissions reduction.

The chosen initiatives mostly relate to improving electrical efficiency in current equipment and transport efficiency.

All of this work will advance in 2024, with a goal of launching a Climate Action Plan containing objectives and targets for reducing GHG emissions. Further details will be included in the second TCFD report we plan to publish later this year.

ACTIVITIES

1. Energy and CHG Profile Assessment
2. Workshops
3. Assessment of Opportunities
4. Climate Action Plan