ESG or Environmental, Social and corporate Governance is rapidly gaining attention amongst board members of heavy industry, mining included. Considered an environmentally questionable activity, mining related transgressions often garner front page headlines – think Vale’s Brumadinho or Rio’s Juukan Gorge debacle. Whilst these two count as extreme examples, they are symptomatic of the driver behind the industry embracing ESG to better their practices and better their credentials.
According to a recent report by global law firm, White & Case, 24% of decision makers in the mining industry responded to a questionnaire citing ESG issues as the biggest threat to their business. This figure rises to 40% when you include climate-related activism and regulation is included.
But what is ESG and how can it be applied to an industry that is dirty by nature? How does a board embrace ESG and set KPIs for the company to achieve? What does it mean to the engineer on the ground? When the world demands more wind turbines and electric cars, where do the raw materials come from? The mining industry! Surely that’s enough to tick the ESG box?
There are multiple fronts to consider within the boundaries of ESG, from engaging local stakeholders through to minimising your carbon footprint. But what do you prioritise, what is achievable and measurable and how do you incentivise your team to achieve goals?
Over the course of the next six months, Ramjack will publish a series of articles looking to cover these questions and providing guidance to the role that technology can play in addressing ESG related issues whilst correspondingly improving the bottom line. Our first topic will cover Tailings Storage Facilities, arguably the most pressing and high profile aspect of any operation that sits squarely within the realms of ESG.
We will then go on to cover areas such as fatigue management of operators, ventilation management of underground operations coupled with improved equipment efficiency, using vehicle health monitoring and emissions management as a guide. Areas where improvements are realisable, measurable and the outcomes will not only benefit the operating environment but also the bottom line.
Feel free to suggest other topics or reach out and find out more about how Ramjack can assist your operation today and tomorrow with the adoption of ESG.