KPMG said it was a “significant milestone” as ESG for the first time topped the list of industry risks in its 12-year-old Global Mining Outlook.
While commodity price risk dropped to second place, another issue closely related to ESG, namely community relations and social license to operate, came in the third spot.
Rounding out the top five risks were political instability and nationalization at number four, and global trade conflict at number five.
The top five risks for global miners neatly encapsulate the short-term issues as well as the overarching long-term factor of addressing climate change and decarbonization.
The question that executives should be answering is how they are preparing their companies to deal with the longer-term risks.
KPMG points out that addressing the challenges brings opportunities to “invest in innovative ways and adapt at a faster pace.”
The survey, released on Tuesday, shows…
