Advancing Sustainable Development through Accurate Reporting

A major question of development is to what extent does the need to use natural resources for economic growth balance with the need for environmental protection and achieving development. According to economist Geoffery Heal (2016), this balance is often misaligned as governments opt for economic growth and therefore draw on resources, sometimes even at the cost of sustainable development. This is what led me to take SIRI’s Sustainable Investing Research Project this year. I desired to learn more about the relationship between sustainability and investment but do so in a practical scenario by working with a client.

The project that I have been assigned to is focused on the importance of accurate reporting of sustainability targets within the mining sector. More specifically, our client wants my team to develop case studies in different markets which show evidence of a positive correlation between strong sustainability reporting frameworks, sustainability reporting and increased sustainable development in areas which host mining facilities. 

Sustainability or ESG reporting is a growing phenomenon which measures environmental, social and governance impacts and performance that a project has. This has been a growing theme of investment over the last decade given the global climate crisis. Sustainability reporting allows for greater transparency, SDG alignment, accountability and corporate responsibility which are all key areas in achieving both economic growth and sustainable development.  This is particularly crucial for the mining sector, as it is one of the most environmentally damaging sectors, yet one that is incredibly crucial to many of the world’s economies. 

This experience so far has been both incredibly insightful and personal to me as my family has worked with the mining sector since the 1960’s. I have visited numerous communities in the Global South that have seen amazing local development because of the economic benefits that local mining projects brought. Increases in small business, infrastructure, opportunities, skills training and increases in local consumer spending are all things I have experienced. However, I have also seen the flip side of this coin. Issues such as high emissions, pollution and environmental degradation have disastrous long-term impacts on local communities. This is why I chose to work on this specific project. I am a strong believer that this industry will be vital in the economic growth of emerging and developing markets and through robust reporting mechanisms, they will be beneficial not only from an economic standpoint but will be vital to sustainable development. 

Having worked in reporting before but for development programming, I am excited to learn more about the role and impact of sustainable reporting not only in the mining sector, but in all major economic sectors. My career ambition is to work with developing states to build green industries which will advance their development whilst being sustainable, equitable and SDG aligned. I am grateful to also be part of a phenomenal team. Not only do my colleagues have great experience and skills, but their desire and energy to achieve sustainable development and support our client in conducting this crucial research is truly remarkable.