Freeport-McMoRan Listed in Fortune Modern Board 25

May 12, 2023

Freeport-McMoRan’s board of directors has been named to the Fortune Modern Board 25, which recognizes the most innovative boards among companies listed on the S&P 500 index.

The rankings are based on a system developed by Fortune in partnership with Diligent, a corporate governance software company. The rankings factor expertise and independence of board members; diversity of the board, including gender, age and nationality; the tenure of independent directors; financial performance; and vulnerability to activism.

Scores for each of the criteria were developed using corporate governance data aggregated from company reports and public findings. The rankings also factor environmental, social and governance (ESG) scoring to evaluate whether boards had the “forward-leaning mentality needed to thrive in a rapidly changing business climate.”

In its evaluation of Freeport, Fortune noted that the company’s “metals are critical to support decarbonization efforts and the green energy transition.” The evaluation also highlighted that the company’s 2022 Annual Report on Sustainability – its 22nd such report – outlined the company’s ESG performance, which included human rights, responsible supply-chain practice and ethics, among other matters.

The Fortune Modern Board 25 includes companies across a wide range of industries. Amazon, Intel, HP, Bristol-Myers Squibb and Citigroup are among the prominent companies that joined Freeport in the 2023 rankings. The Fortune Modern Board 25 was established in 2022.

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