INDUSTRIAL MINERALS: Moving the ESG needle in mining – from threat to opportunity
Mining companies with strong Environmental, Social and Corporate Governance (ESG) performance are in a position to reap the benefits of the competitive advantages ESG can deliver, including commanding higher prices for materials.
But to what extent are ESG policies being implemented in practice? What are the key barriers and challenges to adoption? And how can companies in industrial minerals mining adopt good ESG standards and drive better performance while also meeting the growing demand for lowcarbon and resource efficient societies?
The grace period for companies that are complacent about ESG has come to an end. Mining firms are increasingly being called upon to explain how they plan to incorporate ESG into their planning and operations globally and to demonstrate their ESG performance in a transparent way. Mining companies can approach this challenge from two different directions. They can either perceive it as a threat, which means a higher risk to being left behind or even drivenout of the market, or it could present an opportunity to increase growth, enhance profitability and protect future operations.