The mining industry is re-evaluating environmental, social and governance (ESG) demands due to their perceived burden at odds with prime business goals, says EY Canada’s mining and metals sector leader, Theo Yameogo.
“There’s increased pushback against ESG benchmarking, for various reasons,” Yameogo told The Northern Miner’s western editor, Henry Lazenby, in Toronto. “Some I’ve heard say it is too costly, too complex, and really detracts from the core business of doing business.”
On the flip side of the coin, Yameogo mentioned the potential for commodities to earn a green premium based on sustainable and responsible production during the interview at last month’s Prospectors and Developers Association of Canada’s annual convention. Producers have already seen premium pricing for metals made with a lower carbon footprint, indicating a market shift towards valuing sustainability, he said.
Watch the full interview below.
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