Executive Summary

This survey involved detailed questioning of thirty-two world-class mining and minerals organisations on their perceptions, policies and progress relating to sustainable development. According to the findings, these organisations believe that: Addressing sustainable development is critical to their long term survival, and to the delivery of enhanced shareholder value. The key challenge for management in implementing sustainable development today, is establishing how to demonstrably link sustainable development performance to financial success. The building blocks for sustainable development are in place across the industry. Over 80% of respondent organisations say they have “taken steps to embed” the principles of sustainable development throughout their organisation, primarily by considering it within their corporate strategy. The majority of respondents stated they have business strategies to address sustainable development, yet little more than 50% said they had a set definition of it. Investment decisions are also being influenced by the need to consider sustainability related issues such as community attitudes, human rights, and biodiversity. Implementation of environmental management appears to be more developed than the management of social issues and wider economic impacts. Environmental and social issues are generally being managed through the adoption of associated policies, management systems and risk management processes. Public environmental reporting has already been adopted by two thirds and public social reporting by just under half of the respondents. Respondents’ key socio-economic concern is how to engage more effectively with stakeholders, in particular with local communities affected by a company’s operations. The responses repeatedly underlined the importance that participants placed on local community engagement for both individual projects and the company overall. Comments from respondent CEOs and Senior Executives indicate a growing recognition of their responsibilities towards stakeholders beyond the local communities. Most respondents do not consult formally with stakeholders on a Group wide basis. Formal consultation was most prevalent with government stakeholders, employees and local communities. Only 13% of respondents engage formally with partners and suppliers, and 20% with customers. Finally, the future for the industry is seen as involving greater transparency and accountability, with increased focus on cleaner technologies and more efficient use of resources.
source: Mining & Minerals Sustainability Survey See also XlnkS43C

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