Environmental Social Governance Managing Risk and Expectations

Increasingly, companies are being judged by their performance in terms of Environmental Social Governance (ESG). But exactly what does it mean, and what should be done about it? While much ambiguity exists, it is no longer sufficient to negotiate the environmental assessment process successfully. ESG is an ongoing process that spans the entire life cycle of a company and its operations. This book is aimed at business leaders – senior executives and company directors – and particularly those involved in the extractive industries and other ventures that significantly affect the environment and host communities. Guidance is provided on the major ESG issues that confront all business leaders. Strategies are provided to address ESG risk and to handle crises when they occur. QUESTIONS FOR BUSINESS LEADERS: Are you at all prepared for an environmental or social crisis event? How will you cope with the "unknown unknowns"? What do your shareholders expect you to do about climate change? Are your employees proud of the company’s ESG performance? How does your bank evaluate your biodiversity impacts?

ForewordAuthorsAcknowledgements 01. Environmental and Social Aspects of Governance in a Changing Environment —The Board’s Role02. Yes, Sustainability Can Be a Strategy03. How Do ESG Values Change Company Culture?04. ESG Factors in Project Finance and M&A Transactions05. Environmental and Social Planning and Management — What’s Measured Improves06. Safety Governance Inside the Boardroom07. Impacts of Development on Communities—Sharing Benefits08. Access to Land as a Human Rights Issue09. Water Resources in the Future —Problems and Solutions10. Industry and Biodiversity11. Enterprise Risk Management —Putting ESG Risks into a Business Context12. Environmental Liabilities—Risks Beyond the Balance Sheet13. Strategies for Climate Change Risk Management — Stemming the Tide14. Crisis Management —Don’t Wait for a Crisis to Come Up with a Crisis Plan15. Right Way to Close an Operation16. Looking Ahead Appendix: Managing Catastrophic Risk—Tailings DisposalAcronyms and AbbreviatonsReferencesIndex

Dr. Karlheinz Spitz is an environmental consultant of international repute. He regularly advises lenders on Equator Principles aspects in their investments and offers ESG training to business leaders. Karlheinz founded Greencorp, an environmental consultancy providing advice to clients who face a myriad of environmental laws and regulations, combined with an increasingly complex web of ESG risks and expectations. John Trudinger is an environmental consultant and is also qualified as a geologist. Since the early 1970’s he has provided environmental expertise to a variety of resource development, power generation and infrastructure projects throughout Australia, North America and Asia. John has served as a Director in a NYSE publicly listed company and several private companies. Matthew Orr is experienced in managing environmental and social risks associated with mining operations and related stakeholder engagement in both operational and corporate roles. He has successfully led the design and implementation of safety management systems for several large mining companies. His career highlight was gaining company support for hosting and organising the inaugural Australian Acid Mine Workshop in 1993.