Mining and ESG - a prize too big to ignore
Updated: 5 days ago
In this 3 day virtual conference hosted by minesandmoney, Dr Sarah Gordon, CEO Satarla and Jamie Strauss, Founder, Digbee, presented a perspective on Mining & ESG - a prize too big to ignore, at 10.50am GMT on December 1st.
This 20 minute presentation discussed the role of ESG in Mining, and the opportunity this presents to both investors and industry. The conversation has seen a significant shift from 12 months ago, when the questions stopped at "do you have a policy and framework?", to now asking "what impact are you having and what action are you taking"? The session addressed three main topics:
1. The journey over the last 12 months
Sarah: Current ESG reporting codes, standards and frameworks are only components of an ESG solution for investors and industry. In May 2020, we ran the Responsible Raw Materials Conference to bring together experts and multiple stakeholders within Mining & Risk Management, to continue and evolve the discussion on ESG.
Jamie: It was then that we had the "What if?" question. Could we marry the insights with the technology and expertise of a mining dedicated platform, right sized and future looking framework, aligned to the various standards? In particular, to make it accessible to mining juniors. We launch the Digbee product in January 2021. Watch this space!
2. Current thinking
Sarah: The value of managing ESG is not just stopping the threats but optimising the opportunities, from the very beginning of any project or operation. For example, engaging the local community. Also, recognising the value and rewards placed on managing ESG, both from the fund managers and companies perspective needs to have heavier weighting. Given the context, the real question is: "what do we need to do now and in the future for the particular asset?"
Jamie: There is no doubt that junior miners are critical to the industry and the smart money can be accessed by demonstrating proof, confidence and credibility by setting the right questions, board approval, scoring and capability to compare and contrast on a context basis.
3. The future
The time is now to be proud of being within the mining industry. The energy transition from non renewables to renewables requires mining, with action at three levels:
Invest in mining - to generate the raw materials required for wind turbines, for example
Market shift - investors focus on companies who demonstrate responsible mining
Prove responsible sourcing - from the customer to downstream suppliers