Environmental, Social, and Governance (ESG) are categories where “socially responsible” investors put their money. Since times are changing and investors now think about the environment and the people’s welfare, it has become necessary to consider values and concerns before investing in something.
Embedded within ESG are the usual concerns that investors should face and consider before investing in a project. For example, the Environmental category lays down the concerns towards pollution or waste materials, pushing investors to be more aware and crucial and making decisions. But why is ESG important to the Canadian gold sector? Here are some examples.
1. Promotes Environmental Safety
The gold sector is not just about mining and getting gold. It’s also about protecting the environment and ensuring that the child’s future generations are safe and secure. In Canada, environmental safety has become a priority. It is a gold-producing country, but many rules and laws ensure it operates safely and efficiently.
2. Improves the Affected Communities’ Well-Being
Like the environment, the gold sector invests in and improves the communities’ well-being, giving all people equal opportunities. With community-based projects, such as community-run mines and open-pit, the workers and residents within the communities will enjoy the benefits, such as education and infrastructure. They are also involved in the development programs, which will enhance the welfare of the communities.
3. Envisions Fair Trade
Fair Trade is a type of consumerism. It means the producers and the people in the communities get to profit from the sale of goods they are involved in. It’s a way of ensuring the rights of the people. This kind of investment helps not just the communities but also the workers.
4. Supports Corporate Responsibility Initiatives
Company-run programs, like donations to local charities, sustainable development, and partnerships in foreign countries, are corporate responsibility. In a nutshell, Canadians are more educated on investing. They realized that the environment and the communities’ welfare are equally important. Thus, they started considering the gold sector.
5. Avoids Lack of Labor
Even though the gold sector is an attractive option for mining, it does have its disadvantages. The problem lies in the mining industry and the mining companies’ need for workers.
The demand for workers is higher than the supply. It is one of the industries that require more workers. The mining companies need skilled workers. However, these workers are hard to find because of the lack of education, training, and jobs.
ESG plays a significant role in this. It provides the opportunity to find a job and a chance in life. The mining companies need workers, and at the same time, the communities need jobs and more income. It’s a win-win situation.
The Implementation of ESG is For Everyone
Everyone should be aware of the ESG. It should be part of every individual’s life. The big corporations should help educate and encourage community-based projects and programs. It will not only help the communities but the country as well. It will even assist the Canadian gold sector to be more socially aware and responsible.
Conclusion
Gold is the product of the Canadian gold sector. It started as a product of desire, and then people began investing in it. It’s why the prices of gold rose, and the country’s economy flourished. Nowadays, investors are more educated and socially aware. They choose to invest in a socially responsible way. It’s already a trademark of the gold sector.
Newfoundland Gold is an alliance of environmental gold companies focusing on advancing mineral exploration and mining projects in Canada’s Newfoundland. Aside from uplifting the Canadian gold sector, we also wish to make mining socially responsible. Learn more about how we can change how we mine today on our website.
