嘉能可Glencore（GLEN）2025年年度报告「LSE」（英文版）（249页）.pdf

1、2025 Annual ReportEnergising todayAdvancing tomorrowPerformance highlights 1Our business at a glance 2Chairmans introduction4Chief Executive Officers review 5Strategic overview 7Stakeholder engagement(s.172)17TCFD20Sustainability34Ethics and compliance 37Our people 40Financial and operational review

2、 42Marketing activities 49Industrial activities56Risk management 70Strategic reportCorporate governanceAdditional informationIndependent Auditors Report to the Members of Glencore Plc124Consolidated financial statements136Alternative performance measures231Other reconciliations237Production by quart

3、er Q4 2024 to Q4 2025239Chairmans governance statement 85Directors and officers 86Corporate governance report 89Audit Committee report 95ECC Committee report98HSEC Committee report99Nomination Committee report 100Directors remuneration report 101Directors report120Energising today Advancing tomorrow

4、ContentsPlease refer to the end of this document for an important notice concerning this report,including with regard to forward-looking statements.Alternative performance measuresWe include certain adjusted financial and other measures in this report,which are alternative performance measures(APMs)

5、and are not defined or specified under the requirements of International Financial Reporting Standards;refer to the Alternative performance measures section beginning on page 231 for definitions,explanation of use and reconciliations.APMs are identified by the symbol.References to emissionsGlencores

6、 emissions,industrial emissions or our emissions means CO2e emissions from our industrial assets as used to calculate progress against our emissions reduction targets(including scope 1,2,and 3)which is defined by reference to our organisational boundary of operational control.Explore our 2025 Group