Full Title: Mining ESG: 2023 in Review and What to Expect in 2024
Author(s): Elizabeth Freele, Frances Carter, Karen Chovan, Sebastian Mateus, Conor McGarvey, Rachel Dekker, Dragana Bodruzic, Pamela Clarke, and Laura Iriarte
Publication Date: February 7, 2024
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While the mining industry continued to grapple with the geopolitical and inflationary pressures that characterized the previous year, 2023 saw some ESG backlash, but mostly growing entrenchment of ESG and corporate sustainability principles globally. ESG was again ranked as a top industry risk by multiple entities, while climate change risk and decarbonization continued to be the key focus.
To help with navigating the complexities of the mining ESG landscape, Sympact has compiled this 2023 Mining ESG Review report, summarising top highlights and new sector-relevant guidance across a range of core industry ESG topics. They have collated the headlines and resources that most captured their interest, covering the mining sector’s major ESG themes, emerging trends, and evolving standards and practices.
Looking forward to 2024, many ESG challenges offer strategic opportunities. Mining companies can redefine their strategies to tackle risks proactively and reduce negative impacts, as the ESG commitments of investors and companies are tested in the year ahead. Those who position ESG as a fundamental component of risk management and resilience strategy stand to secure their social license to operate and meet the pressing demands of short-term financial and operational performance expectations.