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What Does Success Look Like For Mining and Oil Companies?

Believe it or not, the mining and oil industries in Canada do better than most on the global scale. Of course there are still opportunities, but we hold our own.


But according to PWC, Canada’s largest miners find themselves facing the same challenge that’s confronting the global industry, notably the shifting sentiment of investors and other stakeholders who are concerned that the sector lags in three critical areas: reducing emissions to address climate change, investing in new technology for the digital age, and building stronger brands and ties to consumers and other stakeholders.


But if you look just a little bit into the details, you'll find some interesting successes and accomplishments, certainly vs China or Saudi Arabia:


Contributions to Canada

"Through taxes and royalties, mining distributes a significant proportion of funds and earnings to governments. Last year, the six Canadian companies listed on the global top 40 paid aggregate direct taxes of US$1.6 billion and royalties of US$858 million. They also made US$78 million in community investments."


Diversity

Collectively, the Canadian miners listed on the top 40 are heading in the right direction when it comes to improving gender diversity, but the pace of change is slow. They’re making some progress, with women accounting for one-quarter of Canadian board appointments last year, compared to 21% among the global top 40.



Carbon Emissions

Most of the top 40 have committed to greenhouse gas reductions of between 3% to 5% by next year.

Of course there is more to do. But we think this is progress.

See this post from PWC for more details:

https://www.pwc.com/ca/en/industries/mining/mine-2019.html

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