Mining companies need to be leaders in ESG — report – MINING.COM – MINING.com

Mining companies need to be leaders in ESG — report – MINING.COM  MINING.comMining companies need to be leaders in ESG — report – MINING.COM  MINING.com

GlobalData presented an ESG framework in its report. It stated that companies must adopt a holistic approach towards sustainability that addresses all three aspects of sustainability. GlobalData analyst Luke Gowland says that ESG issues are the most pressing of the decade, with citizens, governments and regulators demanding that corporations take action to address these problems. GlobalData’s ESG framework requires that mining companies perform well in all 12 areas. Being a laggard in any of these will damage brand reputation and ultimately profits,” Gowland states. “ESG issues are the most important of this decade – with citizens, governments, regulators and the media demanding action from corporations to address these challenges”GlobalData analyst Luke GowlandGowand says it is easy to find examples of lackluster governance in mining but much harder to find exemplary case studies. He says that poor governance is the main reason companies fail to perform in social and environmental issues. “In the wake covid-19, corporate boards must ensure that their company performs financially while keeping ESG top of the agenda. To achieve this, corporate boards must have diverse representation or they could face shareholder voting. A company can be more in touch with its employees, society, and shareholders if it appoints a wider range of directors and empowers them. GlobalData points out that mining companies must engage with all stakeholders early on to achieve ESG success. The full report is available here.

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