Social and Economic Reporting: Framework and Guidance
Mining can be a powerful driver for sustainable development. Through core business activities and supplementary social and economic initiatives, mining companies make significant contributions to the social and economic development of the regions in which they operate.
- While companies report the contributions they make to the communities within which they operate, what has been missing, until now, is a set of consistent indicators that gives stakeholders, such as investors, governments or local communities, comparable data to assess companies’ contribution to social and economic development.
- The Social and Economic Reporting: Framework and Guidance was developed through consultations with a range of external stakeholders including investors, civil society, customers and international organisations, and was tested at site with members. It builds on existing frameworks, including GRI, but represents leading practice in several areas including the disaggregation of data by gender and ethnicity, and reporting of employee wages compared to the local living wage.
- Through the Framework, ICMM members have committed to report against a set of eight core indicators including on workforce composition, pay equality, wage level, provision of training, country-by-country tax reporting, local procurement, education and skills support, and capacity and institution support.
- The guidance is intended to be used by ICMM member companies as they begin to report on the indicators. It aims to support consistency and alignment in reporting for all ICMM members. It can also be used by other mining and metals companies seeking to strengthen their approach to social and economic contribution. This guidance may also be of interest to investors, customers, civil society organisations and other external stakeholders seeking to better understand the contribution of the mining and metals industry.
- The Framework has been designed with the flexibility to evolve over time to include further areas that demonstrate mining’s contribution to social and economic development.