ONYEN AI-driven ESG reporting software consolidates the complicated process of ESG reporting, facilitating compliance. This increases a mine’s prospects of attracting capital investment, improves relations with stakeholders, and meets the regulator’s conditions for the mining licence renewal.
In their respective mission statements, companies involved in different commodities in African mining all vow commitment to sound ESG reporting compliance in their projects. One mining company goes as far as pronouncing, “We strive to exceed stakeholder expectations.”
Such is the high value attached to ESG reporting compliance for contemporary mining operations. Stakeholders, including customers, employees, investors, governments, and the broader community, have a vested interest in how mines conduct business and have a bearing on long-term sustenance.
It is no wonder that mining companies are striving to achieve high ESG scores at all costs. Thus, they need to utilise effective tools.
Six months after demonstrating ONYEN’s AI-based ESG reporting software solution to a wowed audience during The Investing in African Indaba 2024, the Director of ONYEN Canada, Lauri Clark, reiterates the importance of effective tools. “The accuracy of the ESG scores is as effective as the tools used,” she stresses, urging mining companies to explore ONYEN’s solution.
Educated choices
Indisputably, she raises a valid point.
Mining companies need to make educated choices regarding reporting tools. A high ESG reporting score can make or break a mining business. Chiefly, an ESG score has implications in the following areas: the renewal of a mining licence by a relevant government authority; the chances of accessing or attracting capital, determining the state of the relationship with the host community, just to cite a few. There is more at stake.
Outdated reporting
Unfortunately, the matter of fact is that mining companies are employing outdated reporting techniques. During the recent Junior Mining Indaba held in Johannesburg, the director of a mining and environmental law firm, Malan Scholes Attorneys, Hulmes Scholes, highlighted this. He lamented that the challenge confronting mining companies is not commitment to ESG reporting compliance per se, but reporting in the correct format. Augmenting this perspective, another specialist at the event, Junior Mining Council founder and President, Fred Arendse, noted that frustration comes when companies fail to package ESG in specific and predefined ways.
Unfortunately, though well-intentioned, compiling relevant data using traditional reporting methods can be a burdensome, error-prone process, which affects the integrity of the results.
ONYEN AI-driven forthright and impactful reporting
Conveniently, the ONYEN AI-driven reporting software solution provides a practical alternative to traditional reporting techniques. “Our solution facilitates forthright and impactful reporting for mining companies to thrive in an evolving ESG landscape,” affirms Clark, pointing out that the solution gives organisations the edge in several ways, particularly the following:
- Comprehensive and accurate data collection
Utilising the capabilities of AI, Onyen software compiles vast amounts of data from departments in different locations. This simplifies the task of processing and analysis, offering meaningful insights into organisations and ESG performance. On the whole, the software ensures comprehensive and accurate data collection.
- Risk Mitigation
Accurate information is central to mitigating the risks associated with climate change and biodiversity, loss, workforce safety, and corporate governance. With Onyen’s reporting system’s advanced analytics and predictive modelling, mines can identify potential risks before they become too complex to manage. Through this, companies can implement targeted mitigation strategies.
- Enhances access to capital investment
By consolidating the reporting process, Onyen AI-driven software enhances the credibility of disclosed information. This transparency fulfils the expectations of socially-responsible investors, increasing the likelihood of attracting capital.
- Adapting to evolving regulations
Flexible and scalable, Onyen’s ESG reporting system helps with internal gap analysis. It allows organisations to adapt seamlessly to evolving regulations, remaining compliant without overburdening resources.
- Clear and transparent communication
As a result of enhanced ESG reporting, a miner fosters relationships and builds trust with stakeholders through clear and transparent communication of sustainability initiatives, performance, and long-term goals. In the end, corporate values exceed stakeholder expectations.
- Smooth transition to a more sustainable and responsible
Designed for ease of use and compatibility with various enterprise processes, Onyen seamlessly incorporates ESG reporting into existing business processes. Thus, the software minimises disruption to day-to-day operations while maximising efficiency in data collection and reporting. By eliminating the need to overhaul their IT infrastructure, it allows for a smooth transition to a more sustainable and responsible business model.
Competitive edge
Without a doubt, with a wide scope of capabilities, ONYEN’s AI-driven ESG reporting solution can give African miners a competitive edge in ESG compliance. In this manner, they can achieve the following: increased prospects for attracting capital investment; long-lasting and mutually beneficial relationships with stakeholders; and, above all, a good reputation.
Last but not least, another food for thought worth considering came from Arendse: “Early adherence to ESG norms would lower costs and reduce future stress.” What about adopting this tried and tested software at project inception to run through the life-of-mine?
The team at ONYEN is ready to address the needs of potential clients in African mining regarding ESG reporting. “We are committed to enhancing seamless, adaptive, and convenient compliance in ongoing projects in African mining,” Clark declares.
