Seequent, a world leader in the development of geoscience analysis, modelling, and collaborative technologies, has recently launched its insight paper ‘Industrial Minerals: Moving the ESG needle in mining – from threat to opportunity’. The insight paper examines key trends and initiatives that are pulling industrial minerals mining towards a more sustainable future, including environment, social and governance (ESG) and business performance, the impact on culture and recruitment, and digital transformation.
It summarises insights gleaned from leading industry thinkers including Imerys, Accenture and Institute of Materials, Minerals and Mining, who joined Seequent for a thought leadership roundtable event in September. During the roundtable, the experts discussed how ESG simply cannot fall off the agenda for mining companies or they risk not only their ability to operate but also to grow their business in the future.
Pieter Neethling, Segment Director, Mining Operations, Seequent, commented: “The ESG agenda has moved on from its earlier days when the conversation centred around investor pressure and regulatory drivers, and mining firms are being called on to demonstrate their ESG plans and performance. There are strong reputational benefits associated with demonstrating genuine commitments to ESG, and those that can demonstrate they are committed to not only meet but to exceed standards and drive innovation will be the ones that best differentiate themselves in the market.”
By evolving their operations and applying digital tools and technologies to unlock the innovations that will inform decision-making, mining companies can embrace this as an opportunity to differentiate themselves as responsible suppliers. It has been proven there is a strong correlation between ESG and profitability, as highlighted by PwC, as companies with higher ESG ratings had an average total shareholder return of 34% over the past three years, which is 10% higher than the general market index.
The insight paper highlights that it is those mining companies who are moving beyond adoption and turning threats into opportunities that are reaping the highest rewards.
Leah Wilson, VP Corporate Social Responsibility, Imerys, added: “ESG is becoming central to organisational culture and employee engagement and ESG performance is increasingly one of the main drivers in attracting the skills the industry needs going forward too. Future generations of innovators, thinkers and engineers will be keen to know about ESG initiatives before they’ll consider joining the team.”
With ESG firmly on the boardroom agenda and with the right blend of technology and tools, companies can ensure compliance with increasingly stringent regulations, meet the ESG gold standard, and deliver genuine and demonstrable sustainability efforts.
Read the article online at: https://www.globalminingreview.com/environment-sustainability/17112021/seequent-launches-insight-paper-on-the-future-of-sustainability-in-mining/