Building stakeholder trust through a credible ESG strategy and implementation plan

Building stakeholder trust through a credible ESG strategy and implementation plan. ESG and Building Trust


Morgan Schauerte; Ausenco

"Building stakeholder trust through a credible ESG strategy and implementation plan 

Morgan Schauerte, Director National Mining Sector Lead Sustainability Canada, Ausenco

Mariel Palomeque Senior ESG Specialist Ausenco

Laura Raimondi Senior ESG Project Manager Ausenco

If you are an executive in the mining industry today, you are facing dramatically changing market expectations on reporting and transparency regarding the environmental and social impacts of projects, supply chains and products. Companies increasingly need to disclose the governance procedures they have in place to ensure communities, investors, employees, and Indigenous partners and rights and title holders that they are effectively managing social and environmental risks. These disclosures requirements begin during exploration and carry on through all stages along the project life cycle. This type of environmental, social and governance (ESG) disclosure is referred to as ESG performance by the investment community. ESG is not a new concept, and it builds on, and is intertwined with many concepts such as corporate sustainability, corporate social responsibility, eco-efficiency, triple bottom line thinking, life cycle management and many others. This paper and presentation will explore how mining companies can develop a credible ESG governance approach and strategy that will reduce risk, open opportunities, and create value. Drawing on recent strategy projects and corporate interviews the paper will summarise ESG trends and drivers, discuss leading ESG standards and guidelines and associated risk/performance categories of interest to investors, regulators communities and other stakeholders.   Linkage of ESG to global sustainability efforts such the United Nations Sustainable Development Goals and Global Compact will also be addressed.

Building on this understanding of the current state of play with respect to ESG and mining the paper will then explore how small to mid-tier mining companies can develop a credible response to external expectations.  We will illustrate how a well-structured governance model, strategy and implementation plan will help companies explain their risks and opportunities in ways that not only meet investor expectations but also build trust with other stakeholders and lead to meaningful outcomes within their projects."
Keywords: CIMTL23