Gold companies have a ways to go on ESG compliance, but here are the leaders

As investors become increasingly concerned about environmental, social and governance issues, companies are finding a growing need to release ESG-related data. In particular, gold producers have had some of the biggest problems with ESG compliance, for obvious reasons.

Additionally, Scotiabank found that hazardous waste produced at the industry level remains low at 3 kilograms/ gold equivalent output in 2021. At the same time, the total waste removal relative to gold equivalent output stabilized over the last four years ending in 2021. The result is increasing distances for hauling the ore from open pit mines and deeper depths for underground mines. The Scotiabank analysts believe these factors are to blame for the persistently high carbon emissions and energy usage by gold producers.

Aside from health and safety, Scotiabank also found that donations from gold producers have averaged about $7 per gold equivalent output, which has been relatively flat over the last five years. Additionally, workforce gender diversity has remained somewhat flat at around 12%.

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