Sustainability reporting is necessary but challenging. Companies in extractive industries (e.g. Mining, Oil & Gas) inevitably disrupt the social environment in which they operate. When social issues are not addressed, the cost of company-community conflict can be immense and far-reaching. Not managing social sustainability properly threatens an organization’s social license to operate.
How do sustainability managers ensure the data they collect is reliable and accurate?
Auditors typically want to know who provided the information and when. It is difficult to track the flow of information and consolidate data. Companies that want to report sustainability performance to their top management or external stakeholders through their own framework or through a standard such as GRI, generally need to provide consolidated information; and need tools that are both easy to use and flexible enough to organize information by, for example: jurisdiction, business units, regional areas, types of facilities, or product lines.
The IsoMetrix Solution
The IsoMetrix Social Sustainability solution simplifies sustainability management and reporting, making it easier for companies in the extractive industries to identify and manage social impacts and risks, associated stakeholders, and any relevant operational data. The solution includes Engagement and Grievance Management modules, Economic Development modules and Land Access and Resettlement as well as certain management modules (i.e. incidents, communication) as standard.
“Because IsoMetrix is a flexible technology, our standard Social Sustainability solution template caters for a wide range of management and reporting requirements across multiple territories, such as North America, Africa and Australia,” explains Robin Bolton, Executive Head of Sustainability at IsoMetrix.
The solution handles the inherent complexity of Social Sustainability Management and Reporting requirements by linking the risks source and social modules to allow for an integrated view between Environmental, Health and Safety (EHS), Enterprise Risk Management (ERM) and Social.
“We standardized our approach to Social Sustainability, using the lessons we have learnt over five years of implementing customized solutions to customers in mining and oil and gas across many countries ,” says Robin. “We combined international best practice, coupled with these lessons and built them in a solution template. This has improved our standard features and implementation process. We are more efficient and can also offer better support to our customers.”
The stakeholder-centric structure in the IsoMetrix Social Sustainability Solution, allows you to manage:
- Stakeholder relationships and expectations
- Socio-economic development aspects related to local communities and contractors/suppliers
- Land access and resettlement