"From manufacturers to end-consumers, our society is looking more closely at the whole supply chain to see whether ethical and other standards are being maintained."
In a world facing challenges that range from climate change to social inequality, every business sector will experience rising demands on its environmental, social and governance (ESG) performance.
"The rise of ESG confirms SRK's approach that good engineering is a holistic and complex process that must address a myriad of risks through the integrated application of relevant disciplines,” says Vis Reddy. This applies to every stage in the economic value chain."
"The financial sector is being subjected to mandatory ESG disclosure requirements in many jurisdictions and is responding quickly to stakeholder interest in ESG investment," says Darryll Kilian, SRK partner and principal environmental consultant. Mining should take account of the greater ESG focus required by financiers and other stakeholders.
"Consideration of ESG at the earliest stages of planning, from exploration onwards, is now recognised as added value to mining projects. Mineral resource and reserve reporting codes are being updated to recognise this," attests Kilian. “However, the urgency to address ESG in the planning of projects goes well beyond the mining sector." SRK Consulting has increasingly seen ESG risks affecting projects related to water, infrastructure and energy.
