ESG
Sustainability as value creation
Beringer linked this integrated approach to the Consolidated Mining Standards Initiative( CMSI), which brings together the International Council on Mining and Metals, the World Gold Council, The Copper Mark, and The Mining Association of Canada( MAC). The initiative aims to reduce duplication, harmonise standards, and focus on material issues that truly drive performance.“ These memberships have come together over a number of years to consolidate standards,” Beringer said.“ There’ s a lot of duplication for us as producers, and this allows us to focus on what really matters.”
He emphasised that consolidation is not about simplifying compliance for convenience – it is an opportunity to strengthen the sustainability agenda. By concentrating on material risks and long-term value, CMSI helps mining companies deliver responsible practices that are measurable, inclusive, and transparent.“ What we’ re doing now is focusing more on the material aspects rather than those that have been dictated to us,” he said.
Beringer reflected on Barrick’ s $ 18.3 billion merger with Randgold Resources in 2018 – 2019 to illustrate the limitations of focusing too narrowly on individual metrics.“ We were asked by investors about scope one and two emissions targets while still integrating two companies,” he said.“ That minute focus on one aspect doesn’ t help what we’ re trying to do here.” Holistic sustainability, he argued, allows companies to focus on outcomes that truly matter for investors, communities, and the environment.
Both Kolb and Beringer also stressed inclusivity. Sustainability frameworks must allow participation from all market actors – investors, financiers, and industry players alike.“ We want responsible mining, but it shouldn’ t be exclusive,” Beringer said. Kolb agreed, noting that credibility and materiality are central to ensuring sustainability gains traction and drives measurable value in the market.
Ultimately, their discussion illustrates that ESG is not losing ground. It is maturing. The sector is moving away from fragmented standards and narrow metrics toward integration, financial relevance, and durable value creation. Sustainability is no longer just a social or environmental exercise – it is a core part of risk management, business strategy, and long-term profitability. �
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