Promoting the concept and principles of sustainable development at the micro level requires that industrial companies understand and improve approaches to managing corporate sustainability. Currently, economics does not provide a universal definition of what corporate sustainability is. With regard to the mining sector, corporate sustainability issues reflecting the viability, value, and sustainable development potential of companies have not yet been studied extensively. The article discusses the conceptual foundations of corporate sustainability; the characteristics and a classification of approaches to defining corporate sustainability; and the relationship between corporate sustainability, sustainable development at the micro level, and circular economy. By analyzing the example of Russia, the influence of the mining industry on the environmental, economic, and social development of both a country with a resource-based economy and individual mining regions is shown from the viewpoint of sustainability. The distinguishing features of mining companies, which include natural capital and mineral assets, are studied in the context of promoting corporate sustainability. It is proven that the effective corporate management of ESG factors results in environmental and social influence that goes in line with sustainable development requirements and serves as a foundation for corporate sustainability. A refined definition of corporate sustainability has been formulated, the specific features of corporate sustainability management in mining companies have been determined, and the specific features of corporate social responsibility have been studied. The issue of integrating circular economy elements into the corporate sustainability concept is discussed, and it is claimed that the inclusion of circular business models in the corporate strategies of mining companies will contribute to their corporate sustainable development and boost their contribution to the achievement of sustainable development goals.
Many businesses view sustainability issues as important and design corporate sustainability strategies. However, creating such a strategy does not mean the company will progress in sustainable development because the factors influencing businesses remain largely unexplored. Based on a review of studies on corporate sustainability, we identified the major factors affecting any company’s sustainability. They include government regulation, imperfect management, interaction with stakeholders, corporate self-regulation and self-reflection, and the regulatory framework, and can be consolidated into two groups. We also analyzed the groups of methods that can be used to assess a company’s sustainability: traditional corporate sustainability assessment methods, circular economy assessment methods, ESG assessment methods, and non-financial performance indicators. For each group of methods, limitations were identified, and it was concluded that corporate sustainability assessments should factor in the environment in which the company operates. As part of this study, a lack of methods for assessing the corporate sustainability of coal companies was revealed, along with insufficient consideration of industrial factors in the prior literature. These factors are responsible for incorrect corporate sustainability assessments in the coal industry. Taking into account the division of Russian coal companies into three types (energy companies, metal manufacturers, and coal producers) and the aspects of their functioning against the backdrop of economic restrictions (including sanctions and embargoes), the authors prove that each group of companies requires an individual corporate sustainability assessment methodology.
Risks of partial or total loss of ecosystems and species due to climate change are currently increasing. Russia is the world’s fourth largest emitter of greenhouse gases, which have a detrimental effect on ecosystems. The fuel and energy complex is the largest emitter of greenhouse gases; in this regard, it is precisely the reduction of greenhouse gas emissions in this area has the utmost significance.In addition, methane as one of the greenhouse gases is harmful not only for the ecosystem but also for industrial safety, and this is also a sphere of state regulation.Since methane, based on its forecast volumes, may well be mined as an independent mineral product, it is necessary to develop a rational method for its use, since today everything that is mined is emitted into the atmosphere.The report analyzes how coal mining companies are currently using coal-seam methane. The volumes of methane in coal seams in the Russian Federation and in coal basins are analyzed. The world experience in the extraction of coalbed methane as a separate mineral product is investigated. A project is proposed for the rational use of methane as a separate mineral product.The main purpose of the article is to show that resource-saving measures for the use of methane can have not only environmental but also economic effect.A financial model of the project is proposed, which allowed to prove the economic efficiency of the project for the use of methane as a fuel. The article is based on the case method, the method for constructing financial models, the method for assessing risks, the method for analyzing information, etc.
Strengthening international environmental and climate policies dictates a reorientation of companies towards corporate sustainability management. The article discusses the issues of assessing the environmental performance of companies in the context of corporate sustainability. The main methods of assessing the environmental aspect of corporate sustainability have been analyzed. The classification of the main methods for assessing the corporate sustainability has been presented. The application of methods for assessing the dynamics of environmental indicators of corporate sustainability of companies, including mining companies, has been substantiated. Mining companies have been proven to cause significant damage to the surrounding ecosystems. The use of indicators of economic impact and environmental and economic assessment has been substantiated.
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