Environmental Social and Governance Reporting
This chapter explores the key dimensions of sustainability; environmental, social, and governance (ESG) performance; and its measurement and disclosure by the Australian mining industry. It reviews the meaning of sustainability, the benefits of sustainability disclosures, how it may be measured, and the difficulties in measuring it. The chapter describes the results of a study that identifies the types of sustainability measures currently used in the mining industry in Australia and concludes with some recommendations for further research. The Global Reporting Initiative (GRI) is an international independent organization that helps businesses, governments, and other organizations understand and communicate the impact of business on critical sustainability issues such as climate change, human rights, corruption, and many other issues. The GRI guidelines appear to be widely respected as a measure of ESG. According to Jenkins, there are many theories that relate to ESG. The chapter draws attention to social contract theory, legitimacy theory, and stakeholder theory.