Grupo México Improves ESG Results
Grupo México reported improvement regarding its global ESG results. According to the company, it made its biggest advancements in business ethics, water management, work practices, human rights, environmental and social management, as well as its climate change strategy.
Through a press release, Grupo México 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, economic and corporate governance matters.
To become a part of the index, the group has reported on its development since it filed to be a part of the index in 2018. Since then, it has increased its score in the Corporate Sustainability Assessment of rating agency Standard & Poor’s (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.
Furthermore, the company announced it is adhering to ‘The Copper Mark’, a scheme verified by an independent third party that certifies and incentivizes responsible copper production. The scheme is based on 32 criteria, including ethics in business, human rights, community relations, working conditions, environmental protection and governance. According to Grupo Mexico, its La Caridad mine and its metallurgical complex, both located in Sonora, have already committed to this initiative.
Grupo México adheres to the efforts and commitments other giants in the industry are making. Recently, MBN reported on Fresnillo’s and Peñoles’ commitment to use and produce clean energy for their operations to help mitigate climate change. Rafael Rebollar, Director General, Peñoles, said that investment in clean energy is a key component of the company’s sustainability actions toward self-sufficiency and economic competitiveness. Rebollar highlighted the importance of investing in innovation and technology to boost efficiency in mining processes as it presented the company’s goals for 2028, which include running operations on 100 percent clean energy. Grupo México itself has developed two wind farms and an efficient gas-fired combined cycle power plant to address its energy needs.
Meanwhile, Octavio Alvídrez, Director General, Fresnillo, highlighted the company’s “constant responsibility” to mining sustainably. The firm has the goal to reduce its negative impact on climate change and carry out a stronger strategy to diminish carbon emissions. Alvídrez, like Rebollar, emphasized the great significance of clean energy production for efficient processes to reduce mining’s environmental footprint.