sharing in governance of extractive industries
In May this year, I attended the International Finance Corporation (IFC) 10th Sustainability Exchange. Among other subjects of interest, the question of Social Measurement was brought up. I have noticed that in the past two years, Social Performance Reporting has been gaining in popularity beyond the mining and metals industry, in which it has already been discussed for many years. In many companies, there seems to be an increasing enthusiasm in integrating social metrics at the board level in the same fashion environmental and HSE measures have been for a while. Furthermore, we observed a nascent trend in investors groups’ recognition of the role that reliable metrics can play in mitigating the social risks associated to their investments.
Social Performance Measurement has been known to allow managers to save time trying to understand and keep track of field events so they are able to instead use that time to actually engage with the communities. However, despite the fact that people are talking more and more about it, it continues to constitute a topic for debate. The challenge lies in understanding what constitutes a reliable and usable social metric.
Is it really possible to portray the complexities of social realities in a report?
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