A new Fastmarkets report shows that #ESG-focused Australian miners are facing competition from cheaper producers abroad. With investors placing increasing value on environmental, social and governance (ESG) issues, mining companies are having to choose between maintaining competitive production and promoting ESG principles. That's the topic explored in an August 8 report from Callum Perry, Solomon Cefai, Alice Li and Laura Roberts of Fastmarkets. In it, they outline the conundrum facing Australia's #mining industry and the impact it's having. The report mentions Rio Tinto (ASX:RIO, NYSE:RIO, @LSE:RIO), BHP (ASX: BHP, NYSE: BHP, LSE:BHP) and Fortescue (ASX:FMG,@OTCQX: FSUMF), which have committed to net-zero greenhouse gas emissions by 2050. Rio Tinto is aiming to reduce its emissions by 50 percent by 2030, and BHP has set a target of a 30 percent reduction by the same year. Fortescue has an even more ambitious target of 90 percent. https://lnkd.in/gd2Z_qPs
Investing News Network - Australia’s Post
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"KPMG is certainly seeing an increase in demand for our services around ESG strategy and decarbonization." Heather Cheeseman, Partner and National Mining Leader at KPMG Canada discusses rising demand for ESG and decarbonization services in mining, critical minerals supply chains and workforce development. KPMG #ESGStrategy #Decarbonization #GBR #OntatioMining #CriticalMinerals #SupplyChain #Canada #EnergyTransition #Diversity
GBR - KPMG - Heather Cheeseman
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Green energy transition is threatened by a lack of mining investment. This article provides some good facts and thoughts why mining investment delivers great returns for both your portfolio an the climate - some highlights of the article: ⚒️ "The demand for metals and materials is poised to surpass all prior estimates" ⚒️ "BHP, Rio Tinto, Glencore, Anglo American and Vale have an average price to forward earnings ratio of 8.5 times versus 18.5 for the S&P 500" ⚒️ " Many investors are still wary of the sector because of its inherently cyclical nature and since the industry squandered billions of dollars on ambitious projects [...] during the 2000s. [...] After [...] the sector’s chief executives have focused on discipline." The article might be behind a paywall (FT seems to toggle this)
BlackRock warns investor disdain for mining threatens green transition
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Managing Director & Head of Infrastructure, Energy & Industrials at Lloyds Banking Group / Energy Transition, Natural Resources, Finance & Business Transformation / my posts are my personal view
Good piece that shines light on the crux of the matter: the mining sector is largely underweighted for the wrong reasons. We need less investment from institutional investors in ESG funds and more into mining. Where I disagree with Tom Wilson is that even if a BHP/AAL would not increase copper production, it would create scale, and that's essential for investment in physical assets and from a financial relevance point of view for investors. Too many investors and banks just have the wrong or misinformed perception of the sector. Just look at the massive breakthroughs the large miners are delivering across carbon intensity, steel decarbonisation electrification of the fleet, etc.. Natural resources companies and Mining are essential to the net zero solution. #nonmetalsnotransition https://lnkd.in/ebjwJP7Y
The takeaway from BHP’s bid for Anglo: more mining investment is needed
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Global Reporting Initiative (GRI) has launched its new mining sector reporting standard (#GRI14) aimed at enabling mining companies to report and address a variety of sustainability impacts. “We need detailed, consistent and globally comparable reporting on the most significant impacts of mining companies, which this new GRI Standard will deliver. Importantly, it will help mining organizations to improve how they communicate with key stakeholders on the issues that matter most to build trust with communities.” Pressures from customer base and legislation such as #CSRD are increasing companies' need to gain site-level transparency on their supply chains. #sustainability #esgcompliance https://lnkd.in/gsyzYhXr
GRI Launches Sustainability Reporting Standard for Mining Sector - ESG Today
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Balancing environmental and social responsibility with economic growth and evolving environmental mining regulations https://lnkd.in/dj3TSCQ5 #miningnews #socialresponsibility #economicgrowth #miningregulations
Balancing eco-social responsibility, growth, and mining rules
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🌍 ⛏️📊🌱 Redefining Resources: How ESG Standards are Transforming the Mining Industry The escalating significance of ESG considerations in the mining sector is evident, with recent surveys highlighting ESG as both a top risk and opportunity for the industry. Effective management of these concerns is increasingly guided by comprehensive ESG frameworks which provide critical support in navigating the complex landscape influenced by regulatory demands and societal expectations. Notably, frameworks like the Initiative for Responsible Mining Assurance (IRMA), the International Council on Mining and Metals (ICMM), and Towards Sustainable Mining (TSM) offer essential tools for addressing ESG risks and enhancing sustainable performance. These frameworks not only facilitate standardised reporting and compliance but also bolster transparency and stakeholder trust, thereby contributing to long-term value creation. As the industry strives for greater cross-recognition and consolidation of these standards, the path towards unified and streamlined compliance looks promising. Such efforts are instrumental in ensuring that mining practices are both responsible and profitable, aligning with broader sustainability goals. #esg #sustainablemining #miningindustry #sustainability #corporateresponsibility #environmentalImpact #socialgovernance #greenmining #resourcemanagement https://lnkd.in/dm9mZb8Y
Navigating the Main ESG Standards and Frameworks in the Mining Industry | Anthesis Australia
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Mining firms, especially in Australia, are under pressure to achieve net-zero emissions by 2050. Digital transformation and sustainability go hand in hand, aiding in #ESG reporting and operational efficiency. A sustainable IT strategy, including robust monitoring, is crucial for reducing carbon footprint and aligning with ESG goals. By integrating IT monitoring technology, mining companies can lead the charge towards a greener future. Let's measure, manage, and make strides towards sustainability. Read more: https://lnkd.in/g7vSe-R4 Qenta’s Responsible Gold offering encourages best in class ESG practices in the #gold mining sector. The objective is to promote #transparency and #traceability in the gold supply chain to promote economic growth and support ESG practices to achieve #net-zero climate commitments. Read more here: https://lnkd.in/dFangG_3
How can mining companies use IT monitoring as part of their journey towards achieving net-zero - Australian Mining
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Utilising ESG frameworks can revolutionise the design of new business processes, ensuring sustainability is at the core of innovation. #esg #mining #sustainability #businessInnovation
🌍 ⛏️📊🌱 Redefining Resources: How ESG Standards are Transforming the Mining Industry The escalating significance of ESG considerations in the mining sector is evident, with recent surveys highlighting ESG as both a top risk and opportunity for the industry. Effective management of these concerns is increasingly guided by comprehensive ESG frameworks which provide critical support in navigating the complex landscape influenced by regulatory demands and societal expectations. Notably, frameworks like the Initiative for Responsible Mining Assurance (IRMA), the International Council on Mining and Metals (ICMM), and Towards Sustainable Mining (TSM) offer essential tools for addressing ESG risks and enhancing sustainable performance. These frameworks not only facilitate standardised reporting and compliance but also bolster transparency and stakeholder trust, thereby contributing to long-term value creation. As the industry strives for greater cross-recognition and consolidation of these standards, the path towards unified and streamlined compliance looks promising. Such efforts are instrumental in ensuring that mining practices are both responsible and profitable, aligning with broader sustainability goals. #esg #sustainablemining #miningindustry #sustainability #corporateresponsibility #environmentalImpact #socialgovernance #greenmining #resourcemanagement https://lnkd.in/dm9mZb8Y
Navigating the Main ESG Standards and Frameworks in the Mining Industry | Anthesis Australia
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Environmental, social and governance (ESG) issues continue to dominate the list of worries among global mining executives. Which strategies will truly move the industry forward in a responsible direction? From March 3 to 6, our PDAC 2024 team of professionals will shine a light on these and other pressing topics, providing insight on compliance obligations and responsible-business practices designed for success. Connect with our team to find out more on our seminar program for PDAC 2024: https://bit.ly/3UEUgyP - See you at PDAC! #gwlgTO #PDAC2024 #mining #criticalminerals #ESG
Responsible extraction: Explore ESG in critical mineral mining during PDAC 2024
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The #social and #environmental #performance of mining organisations is increasingly being linked to financial performance, a link that has been missing from practice and scientifically under-theorised. Environmental and social performance are no longer icing, but the cake of doing #miningbusiness. Voconiq engagement science has taken centre-stage in this emerging development. #localvoices #sociallicence #communityengagement #investinginmining #sustainablemining
We are very excited and proud to share this significant development by Lundin Mining Corporation Voconiq Local Voices data from all six Lundin Mining assets are being used to measure and monitor social licence in support of the company's commitment to helping neighbouring communities thrive. Sustainability Linked Loans (SSLs) that contain externally facing social performance targets are extremely rare but show the commitment of Lundin Mining to achieving publicly stated goals in this area. SLLs offer a mechanism to align the interests and outcomes of communities and companies through stronger social performance. We see these instruments as a very tangible way for Voconiq to achieve our Purpose: We give voice to communities; we help our customers listen. https://lnkd.in/gjJ4VQe3
Lundin Mining Links US$2.55 Billion Credit and Loan Facilities to Environmental and Social Performance
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