Metals and mining companies are seen as vital if the world is to reduce its reliance on fossil fuels. They must shift focus to the production of minerals needed to help reduce the carbon footprint. At the same time, they may have to transform their own operations to conform with increasingly important environmental, social and governance considerations, while reducing their carbon emissions to net zero.
KPMG International has a new report that will help guide executives in the metals and mining industry on future trends, called “Sustainability on the horizon: The prospects of a net-zero future for metals and mining companies.” The report is based on a survey of 322 metals and mining executives around the world, more than half of whom work at companies with annual revenue of more than $10 billion.
More than two fifths say they will accelerate investment, opening the prospect of transforming the industry in ways that help the global economy meet its environmental, social and governance (ESG) goals. Yet only 30 percent say they have integrated ESG goals into enterprise strategy. Others admit they have a long way to go.
More than three quarters have set net-zero targets for carbon emissions and 69 percent say they aim to achieve them by 2030. As we say in the report, integrating ESG goals into corporate strategy entails ensuring C-level executives lead the effort. The heavy lifting on ESG will be delivered by an organization’s culture, on which a sustained focus can deliver the best outcomes.
Please read the report on the future of metals & mining and let us know what you think. Is your company ready to meet demanding objectives ESG and carbon emissions?
