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A Due Diligence Approach to Environmental and Social Business Performance Assessment

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Author P Baker and C Wyatt
ID P201006036

Description

The modern
resource extraction enterprise is a complex capital intensive business operating
in a world of constantly evolving social, environmental and economic scrutiny.
Investors, government, media and special interest groups expect to see business
environmental and social performance respond and deliver increasing corporate
responsibility and sustainability.


 


Thorough
interrogation of business performance using a multi-disciplinary due diligence
approach presents a more sophisticated review and benefits beyond the
traditional compliance/conformance ‘audit' style assessment.


 


Using a due
diligence approach allows assessment through a comprehensive lens which examines
potential short- and long-term risks including sometimes less tangible
environmental and social liabilities, and informs management, investors and
regulators of broader business performance. This approach provides information
in a form that business can measure performance in a repeatable and enterprise
wide sense.


 


This paper
provides an outline of the due diligence process applied in this way, drawing
from lessons learnt and industry based experiences in the due diligence process
and the benefits and tools that can 
be applied in an environmental and social due diligence business
performance assessment.


 


FORMAL CITATION:
Baker, P and Wyatt, C, 2010.
A due diligence approach to environmental and social business
performance assessment,
in Proceedings Sustainable
Mining 2010
, pp 310-314 (The Australasian Institute of Mining and
Metallurgy: Melbourne).