As explained across this site, the geological world requires industry specific reporting, which is overseen by CRIRSCO.
Here Dr Sarah Gordon interviews Ruth Allington and Teresa Steele-Schober - who recently gave a presentation on ESG at the CRIRSCO annual general meeting - to gather their thoughts on the importance of ESG.
The interview can be seen here:
Key points:
What is ESG?
Linked to the concept of sustainability, ESG = environment social governance. ESG is often thought of as 3 separate entities which pose risks to companies, but rapidly companies are realising that these disciplines not only overlap, but can provide opportunities. One area often overlaps with others.
Why should a mining company care about ESG?
ESG can provide opportunities for companies to show they are responsible, ethical and transparent. Conversely, a lack of attention to these issues at first stages can sabotage all future operations. Investors especially are realising that early recognition and engagement brings a huge amount of value to the table.
What did the CRIRSCO session on ESG look like?
CRIRSCO is a family of reporting codes and standards which span the world, and they are increasingly trying to integrate ESG guidance into the codes to empower professional individuals and bodies to incorporate ESG effectively.
What have South Africa been doing?
SAMCODES sanctioned a ESG working group in 2013 to assess how ESG can be incorporated within the mining codes. After about 2 years, the SAMESG code was released to work alongside SAMREC, SAMVAL and soon SAMOG. From the 2016 code update, SAMESG became a mandatory guideline. Last year, the UN issued an award to them.