Mining companies failing in their corporate responsibilities, new index shows

The first Responsible Mining Index has revealed that some companies are failing in their corporate responsibilities. The 2018 index reveals the vast majority of the assessed mining companies show responsible policies or practices on several economic, environmental, social and governance (EESG) issues. However, a few companies show systematic failings across a range of key issues on which companies would be expected to act, such as monitoring the impacts of mining on children, tracking whether community grievances are being dealt with appropriately, or checking that workers’ wages meet or exceed living wage standards. It also found that too often companies have not put into practice some of their own policy commitments on responsible mining, such as on the management of human rights issues. Importantly, few companies keep track of how effectively they are managing EESG issues and fewer still can demonstrate that they are working to improve their performance. At the same time, however, companies collectively demonstrate responsible mining across many issues and strong cases of leading practice are evident, providing valuable models for other companies. More widespread adoption of existing practices could see the mining industry go some way to meeting society’s expectations. Hélène Piaget, chief executive officer of the Responsible Mining Foundation, said: “We will continue to engage with all stakeholders to support responsible mining and encourage constructive dialogue between companies and stakeholders – whether they be communities that neighbour mining operations or large institutional investors.” The Responsible Mining Index 2018 is the first of a multi-year initiative by the Responsible Mining Foundation and includes companies that produce 25% of all mined commodities globally. “With the launch of the Responsible Mining Index 2018, we aim to create a strong knowledge base that is open to all and encourages leading practice and learning across the mining industry,” Ms Piaget said. Mining is a significant contributor to the GDP and exports of many low- and middle-income economies and can support achievement of UN Sustainable Development Goals. However, the one-time removal of these non-renewable resources has often failed to catalyse economic development and for too many people and too many environments, mining brings lasting disruptive consequences. This first Index, RMI 2018, covers 30 companies from 16 countries, including publicly-listed, state-owned and private companies. These companies operate more than 700 sites in more than 40 producing countries and the assessment covers most mined commodities, excluding oil and gas. The index focuses largely on company-wide behaviour, while also looking at site-level actions at 127 mine sites, to provide a snapshot of information disaggregated to the level of individual mining operations. As an evidence-based assessment, the index measures the extent to which companies can demonstrate, rather than simply claim, that they have established responsible policies and practices.

Mining companies failing in their corporate responsibilities, new index shows

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