Global mining and metals executives rank environment, social and governance , geopolitics and climate change as the top three risks facing their business over the next 12 months, finds the EY Top 10 business risks and opportunities for mining and metals in 2023 report.
While evidence has shown that mining and metals companies are integrating ESG factors into corporate strategies, decision-making and reporting, survey respondents continue to rank ESG issues as the number one risk to their business, with climate change following closely behind in the third position. Respondents list water stewardship , decarbonization and green production as the top issues they expect will face the most scrutiny from investors.
Respondents rank geopolitics as the second business risk — up from fourth last year. Seventy-two percent identify resource nationalism as the top geopolitical factor likely to impact their operations as governments seek to fill revenue gaps after spending throughout the pandemic and capitalize on higher commodity prices through new or increased mining royalties.