ABSTRACT
That’s a wrap on the 2023 Responsible Raw Materials online conference! The final session on 12 May came full circle on many of the themes previously discussed.
Shiv Unka contextualised many of the previous discussions by mapping out some of the climate change, migration and livelihood disruption stakes of mining, particularly around lithium production in the Andes.
Josh Warner discussed his initiative Terra-trace, aiming to share information about the provenance of metals in everyday products, along with how responsibly it was extracted, so that people can make more informed purchases. Through consumer communication (package labelling and advertisement) the goal is to educate people about their material footprint and mining.
Vanessa Richards gave us a masterclass in applying what can be learned from finance and accounting to establish disciplined management of climate change programs, sharing her experience in internal and external reporting and governance around all aspects of non-financial values, including biodiversity, social license and decarbonisation to discuss the discipline of trust. And if you assume that accounting is not connected to current stakes – think again !
“Accounting is and always has been at the centre of trust that underpins successful societies […] it’s the foundation of transparency and without it there’s no accountability […] we need to learn from accounting if we’re going to meet the unprecedented sets of challenges that we’re facing, firstly because complexity and rapid change require a unity of purpose […], secondly everyone needs to know that the choices we’re making are the right ones and that the things that we will inevitably have to sacrifice are worth it – measuring and verifying value is crucial; and thirdly you now need to justify your right to use our collectively precious resources – being competitive is no longer the only criteria for survival”
Libby Sharman presented BHP Xplor, a global accelerator program targeting innovative, early-stage mineral exploration companies to find the critical resources necessary to drive the energy transition. The 6-month program supports early-stage mining exploration companies to efficiently and safely de-risk their geologic concept and become investment-ready so that it does not take the usual decade (or more) to progress from idea generation to discovery.
Ana Estefanía Carballo presented Transparency International’s recent report, What Does The Energy Transition Mean For The Mining Sector? which examines key trends to understand corruption risks in the extraction of transition minerals. These include the effect of increasing demand on permitting in jurisdictions with weak governance, unintended consequences of project fast-tracking and strategic initiatives, risks resulting from increasing State participation in mineral value chains and exacerbation of environmental, social and political tensions in sensitive locations.
Barbara Dischinger shared some final perspectives and reflections on trust, from her experience leading diversity, equity, and inclusion initiatives in the mining sector, identifying the differences across cultures and organisations and calling for the respect of individuality as a foundation of trust.
“We get asked what women bring to the table all the time; interestingly enough I don’t see men getting asked what they bring to the table, they’re just at the table so I feel we need to stop asking these questions to change the dynamic. Don’t ask permission to be here just take the space, sit down at the table. […] Everybody can bring valuable contributions to the conversation. […] People trust others when they share common purpose or values, when there’s honesty and authenticity”
RRM 2023 – Criticality of Trust – Day 4 Review | LinkedIn
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