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The term ESG, which stands for Environmental, Social, and Governance, gained prominence in the corporate world with the publication “Who Cares Wins!”. The ESG concept emerged as a call for companies to become more socially and environmentally aware and responsible. It was created to evaluate and measure the sustainability and ethical impact of an investment in a company or business. Today, ESG is a requirement and a competitive factor.
In this blogpost, we’ll explore which ESG trends the Mining sector can adopt in its day-to-day operations. Check it out!
MINING AND ESG
While mining generates economic value, it also has a high potential for social and environmental impacts. That’s why it’s crucial for mining companies to integrate sustainability and environmental, social and governance responsibility into their procedures. This not only strengthens the industry and preserves the environment, but also improves mining’s image in society and attracts investors focused on ESG goals.
ENVIRONMENTAL TRENDS
The environmental pillar of ESG refers to a company’s impact on the environment, including biodiversity, carbon emissions, waste management, energy use and pollution. Mining companies that follow good environmental practices seek to eliminate or minimize negative impacts. Some trends to be adopted include:
Use of ARLA in diesel
ARLA 32, used in diesel vehicles, reduces emissions of nitrogen oxides (NOx). In mining companies, where these vehicles are common, ARLA 32 is crucial for reducing these harmful emissions.
Adoption of electric vehicles
Electric vehicles, because they do not emit pollutants and are more efficient, help to reduce the carbon footprint and operating costs, making mining more sustainable.
Waste management
Waste management involves responsible practices such as recycling, proper waste disposal, safe disposal of tailings and assertive treatment of the effluents generated. These practices protect the environment and people, contributing to the sustainability of mining.
Use of renewable energies
Using solar, wind and hydroelectric energy can significantly reduce operating costs and are sustainable and inexhaustible sources of energy.
Internal campaigns
Companies carry out internal campaigns to promote the conscious use of natural resources, encouraging the use of reusable mugs, turning off unused lights and promoting the conscious use of water and electricity.
SOCIAL TRENDS
The social pillar of ESG covers the company’s relationship with its employees, stakeholders and society. It refers to the company’s social impact, including employee relations, working conditions, human rights, diversity, inclusion and community engagement. Trends to be adopted by mining companies include:
Corporate social responsibility
Investing in local communities through community development programs and educational initiatives demonstrates a genuine commitment to the well-being of communities.
Workers’ health and safety
Adopting strict safety measures, such as training, the use of protective equipment and monitoring workers’ health, ensures healthy and safe working environments.
Diversity and inclusion
Implementing policies to ensure a diverse workforce in terms of gender, ethnicity, age and experience, and ensuring that all employees feel valued and respected.
Governance trends
The governance pillar of ESG concerns the management of the company. Promoting sustainable and ethical business practices is crucial to good governance. Trends adopted by mining companies include:
Transparency and ethics
Operating in an open and honest manner, sharing relevant information with all stakeholders and adhering to high standards of conduct, ensures fairness, honesty and integrity in operations.
Regulatory compliance
Complying with all applicable laws and regulations, including environmental standards, labor laws and safety regulations, is essential for proper governance.
Stakeholder engagement
Actively interacting with all stakeholders, including employees, local communities, investors and governments, through open dialogues and regular consultations, is key to meeting stakeholder expectations.
HOW FAST2MINE CONTRIBUTES
Fast2Mine helps mining companies combine operational efficiency with sustainability. Fuel level management through the Fuel module of the Mining Control System reduces waste and the frequency of refueling, increasing production time. The Telemetry Control System, with its “idle equipment alert” functionality, helps to reduce fuel waste and minimize the emission of harmful gases.
Day after day, Fast2Mine seeks to reinvent and strengthen itself within mining and society, taking intensive care of its employees, clients, the environment and all the people reached by its transformative energy. We understand that natural resources and human potential are our most precious assets. Without them, there would be no well-being for present generations and no future for those to come.
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