ESG — environmental, social and governance — issues are a major theme at this year’s “Investing in African Mining Indaba”, a reflection of the central stage they have taken in the corporate world. A decade ago, the term was hardly known and such issues would have been sideshows at “alternative Indaba” events organised by various green groups and lefties.
The International Council on Mining and Metals framework unveiled at the Indaba commits the group’s members “to report on eight key indicators, which include country by country tax reporting on revenues, payment and tax, workforce composition, pay equality, wage level, training provided, local procurement, education and skills programmes, and capacity building.
Workforce compensation and pay levels are clearly high on the public radar screen at the moment against the backdrop of the perception that inequality is widening. Executive pay is also in the spotlight.
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