Kevin Brady, Director of Sustainability Services shares how ESG performance is shifting expectations in the mining industry.
The way that the environmental and social impacts of mining projects are disclosed is changing dramatically, as is the structure of governance practices in the industry. In many regions, this change is the result of new regulations and oversight, as well as increased community and investor interest in project impacts.
There are a number of ESG and sustainability standards outlined by different organizations, and they can be valuable proxies for what a company should be doing to reduce risk and improve performance. Proactively addressing ESG can turn risk into opportunity: opportunity to attract investment, opportunity to secure community and regulatory support for projects, and opportunity to attract and retain high-quality employees and partners. Put simply, improved ESG performance helps secure access to land, capital, and people.
ESG practices are now part of how mining companies and mine sites are being evaluated by a wide range of stakeholders. When considering how to manage your ESG performance it is best to take a strategic approach that ensures the decisions you make are based on a foundation of solid data. Ausenco works with clients to identify and implement ESG strategies early in a project to capture the maximum possible value while mitigating risks.
For mining companies, environmental, social and governance (ESG) performance can make or break a project, with responsible and transparent projects granted access to investor capital and community support while other projects encounter roadblocks. Download our whitepaper, “Environmental, Social and Governance (ESG) performance expectations in mining: How to avoid checking the box”, for answers to some of the common questions that people ask about ESG.