ESG (Environmental, Social and Governance) is a set of standards which looks at how business operations and supply chain impacts on the environment, how the social aspect of the business affects the wider community and workplace, and the companies’ ethical practices, transparency and decision making.
- Environmental: Climate change, Biodiversity, deforestation, air and water pollution.
- Social Responsibilities: diversity, human rights, gender equality, employee engagement, data protection, privacy, stakeholder relations and labour rights
- Governance: bribery and corruption, board composition, executive compensation, whistleblowing policies, lobbying or political contributions
In recent years ESG has become an important focus for investors and businesses are now making ESG a priority. Businesses are realising the benefits of ESG and how it has an effect on employee engagement, enhances business reputation and provides increased access to capital as investors have confidence in their performance and their values.
There are also regulatory reporting demands that are being brought in. Under the FCA’s ESG rules, firms will be expected to publish a TCFD report either within its annual financial report for its financial year starting on or after 1 January 2022, or as a standalone which is cross-referred to in its annual financial report.
Businesses are increasingly choosing to report on their ESG performance in annual reports or standalone sustainability reports. There are a growing number of institutions and Initiatives that are developing standards which provide business with external verifications (IFC, TSM) or ways to report your sustainability credentials (GRI, DJSI).
We have experience in the equivalency mapping of mining specific ESG Frameworks. We can provide detailed equivalency mapping of a businesses internal policies, standards, specifications to look at any areas where you may have weaknesses in your documentation and highlight areas of risk. We will work with stakeholders to confirm and discuss the mappings to confirm findings and provide guidance and recommendations. We can assist on the creation of any action plans to cover off any areas which are identified as requiring strengthening.