International Mining Company - Customer Story
The Challenge
An international mining company had seen Environmental Social and Governance (ESG) disclosure demands from its many stakeholder groups increase significantly since 2019. Initially, they had reported on their corporate social responsibility goals and aligned to the United Nations Sustainable Development Goals (UN SDGs), but many external stakeholders were pushing them to report to more rigorous standards like the Global Reporting Initiative (GRI) and Sustainable Accounting Standards Board (SASB) to give the company’s reports more credibility.
After initial attempts to achieve this reporting with in-house tools, the mining company quickly realized they would need something more focused on ESG reporting. Their team chose a popular tool that it found via online research that promised to help with producing reports aligned to standards like GRI and SASB.
While helpful with analyzing data in graphs and producing final reports, behind the smoke and mirrors this product was not much more than a glorified spreadsheet when it came to collecting data and performing calculations. Although the mining company had invested in technology to streamline its ESG reporting, it was not getting the full value it expected and reporting demands were not letting up.
The Evaluation
The mining company had been using IsoMetrix as its Environmental, Health, and Safety (EHS) platform for many years, and was excited to learn about IsoMetrix Lumina, the solution for ESG management and reporting.
The sustainability manager at the mining company was immediately impressed with Lumina’s ability to use multiple methods to gather data, allowing the organization to connect with different internal and external stakeholders to import data into the platform directly.
Additionally, they liked how IsoMetrix Lumina had a built-in carbon calculation engine, meaning calculations would no longer need to be managed on spreadsheets where formulas could easily be broken. The sustainability manager was eager to automate several components of the ESG disclosure process, and the mining company adopted Lumi as its ESG reporting technology solution.
Using Lumina has significantly reduced many of the manual burdens the mining company experienced when producing its initial ESG reports.
The Results
The Director’s first initiative with IsoMetrix Lumina was to import historical data from spreadsheets. Lumina’s ability to map columns to the right data categories using AI made the process very easy.
Next on the task list was to create schedules for digital forms for automatic distribution to data owners and collaborators across the business on monthly and quarterly bases, so they could easily submit information and supporting attachments. The Director found it particularly helpful that Lumina would handle grid (including eGRID) conversion factors for all eight countries he oversaw.
Reporting to sustainability standards and frameworks has gotten significantly easier since adopting Lumina to manage sustainability, and reports can now be produced in minutes rather than days. Data analysis has also improved with better performance visibility at every level of the manufacturing company, helping to inform business strategy.
Having used IsoMetrix Lumina for over a year and a half, the Director has seen significant growth in product capabilities, including implementation of suggestions he personally made to the product team. Improvements, such as the ability to customize reporting periods and create calculations to automate estimates and ratios have helped to make reporting more accurate in even less time.