Grupo México Enters The Copper MarkBy Karin Dilge | Thu, 04/07/2022 - 16:24
Grupo México entered two plants to The Copper Mark, an international initiative that certifies and incentivizes sustainable copper production processes. Its goal is enabling metal buyers to distinguish between companies according their responsible mining standard. Grupo México’s La Caridad mine and its metallurgical complex, both located in Sonora, are already staunch supporters, according the company.
Adhering to The Copper Mark reflects a company’s commitment to the UN Sustainable Development Goals. To be part of this international initiative, companies need to comply with 32 criteria within two years after signing the commitment letter. These criteria contemplate issues such as greenhouse gas emissions, ethics in business, gender equality and human rights, health and security, community relations, working conditions, environmental protection and governance.
Grupo México recently explained that it is now part of the Dow Jones Sustainability Index for the fifth consecutive year. The index is widely considered to be the world’s strongest sustainability index, consisting of companies with an excellent track record regarding environmental, social and governance (ESG) issues.
The Copper Mark considers that the incorporation of these new plants stands as proof of Grupo México’s increasing effort toward more sustainable operations and responsible production practices. As part of these efforts, the Mexican mining giant reported on its ESG development since it filed to be a part of the Dow Jones Sustainability index in 2018. Since then, it has increased its Corporate Sustainability Assessment score from rating agency S&P by 24 percent, scoring 79 percent above the average for mining companies.
This year, Grupo México was included in the Sustainability Yearbook 2022, as a recognition to the progress the company has made. It is one of the 10 Mexican corporations included in the report.
More companies are starting to strengthen their ESG compliance and implementing stricter guidelines. According to Maria José Treviño, Country Manager, Acclaim Energy, companies in Mexico and Latin America “tend to carry out this implementation in response to corporate requisites. Public companies have also begun diving into critical strategies and reporting based on pressure from financial institutions and competitors,” she wrote for MBN. “Many businesses focus on short-term cash investment return. However, the true approach lies in the creation of long-term sustainable value by doing good and embedding ESG principles into business planning process,” she added.