A long and rocky road to ESG for Chinese overseas mining
Companies are shifting towards international standards on environmental, governance and social issues. They lag particularly on the social side, experts say The post A long and rocky road to ESG for Chinese overseas mining appeared first on Dialogue Earth .
Nickel is crucial for creating batteries for electric vehicles, wind turbines, and solar panels. China has been a major player in Indonesia's nickel industry, attracting investment and generating employment. However, Chinese nickel processors in Indonesia perform adequately in terms of environmental and carbon emissions standards but lag in community communication and relationship management, according to a recent report by the International Institute for Sustainable Development (IISD).
This issue isn't limited to Indonesia; Chinese overseas mining firms generally struggle with the social aspect of ESG (Environmental, Social, and Governance) standards, said experts from Dialogue Earth. The US finance company MSCI, a leading provider of ESG rating systems, ranks 80% of Chinese mining firms as "laggard" in ESG management, which impedes their overseas investments and operations.
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