Head of the Climate and Natural Resources programme at the SA Institute of International Affairs Alex Benkenstein & GoldFields vice president for Sustainability Strategy and Disclosures Charlene Wrigley.
According to Charlene Wrigley, GoldFields vice president for Sustainability Strategy and Disclosures, ESG reporting standards enable companies to better understand the benefits and impact of their investments in the minerals sector.
“ESG has to make good business sense, add-value and be fit-for-purpose. A company’s ESG performance has to enable your business strategy and demonstrate impact where it matters most,” Charlene added.
However, she suggested that the number of frameworks be streamlined, during a panel discussion at African Mining Week in early October.
To improve the fragmented ESG standards reporting frameworks, Charlene highlighted the work being done through the Consolidated Mining Standards Initiative (CMSI), which aims to bring together the best aspects of four well-established standards into a global standard that reduces complexity and clarifies responsible practices for all mining companies.
“The CMSI’s final public consultation, and final opportunity for input, on the draft Consolidated Standard, Assurance Process and Claims Policy is launching 8 October,” she noted.
Fellow panellist Alex Benkenstein, head of the Climate and Natural Resources programme at the South African Institute of International Affairs, stressed the importance of grounded engagement among governments and civil society on what ESG compliance should realistically entail – amid heightened geo-strategic competition for access to critical minerals.
He cautioned that the core questions around ESG should therefore not be overlooked.
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