Environmental transparency of Russian mining and metal companies: Evidence from independent ranking system

Knizhnikov, Alexey; Shvarts, Evgeny A.; Ametistova, Lioudmila; Pakhalov, Alexander; Rozhkova, Natalia A.; Yudaeva, Daria

doi:10.1016/j.exis.2021.100937

Cited by 13 publications

(8 citation statements)

References 73 publications

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“…The importance of considering many factors and conflicting criteria is mainly due to the global trend towards a shift in economic priorities towards environmental and social aspects. The transformation of management in accordance with the principles of ESG (Environmental, Social, and Governance) is especially relevant for the mining and metallurgical industry due to its significant environmental footprint [10].…”

Section: Methodsmentioning

confidence: 99%

Selection of Open-Pit Mining and Technical System’s Sustainable Development Strategies Based on MCDM

2022

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Mining of the extensive, steeply dipping ore deposit takes several decades. An open-pit mining method is more often used in the early years of such a mining enterprise (ME). The management of the enterprise is faced with the problem of changing the mining method as the depth of the quarry increases. Untimely solution of this issue or the choice of the wrong strategy for the development of ME leads to a decrease in profitability, and the emergence of environmental and social difficulties. We studied the functioning of one hundred and seven MEs from different countries and substantiated four main sustainable development strategies for ME and its main system—the open-pit mining and technical system (MTS): adjustment of the current stage of mining indicators, transition to a new stage of mining, transition to a combined open–underground mining, and mine closure. The result of our research is an original methodology for selecting a strategy for MTS sustainable development. Our methodology is based on a new system of parameters and indicators for evaluating the sustainability of the opening-up of an opencast system (OOS). This assessment system includes twenty-three indicators that characterize the technical, technological, economic, social, and environmental factors of sustainable development. We propose to select a strategy for MTS sustainable development using combined fuzzy AHP-MARCOS multicriteria decision method (MCDM). The result of our case study for the Malyi Kuibas ore deposit was the choice of a mine closure strategy. The reliability of the obtained result is confirmed by a multilateral sensitivity assessment using nine other known MCDMs, while changing the criteria weights and composition of strategies. The results of the study prove the need for a timely decision to change the MTS development strategy as the depth of production increases. In addition, we have shown the effectiveness of the selection methodology based on the multicriteria assessment of the OOS sustainability.

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Section: Methodsmentioning

confidence: 99%

Selection of Open-Pit Mining and Technical System’s Sustainable Development Strategies Based on MCDM

2022

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“…В странах мира активно происходит регулирование добывающей отрасли для более устойчивой добычи полезных ископаемых, соответствия стандартам ESG. Компании золотодобывающей отрасли принимают такие меры, как например сокращение выбросов парниковых газов и повышение качества раскрываемости ESGотчетности (Baur et al, 2023;Knizhnikov et al, 2021).…”

Section: анализ существующих подходовunclassified

The Influence of Ceo's Characteristics on Esg Rating and Efficiency of Gold Mining Companies

CHERKASOVA,

PETROV

2024

LEJ

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This study examines the role of the CEO in implementing ESG policy, which results in the growth of ESG rating and improving the efficiency of gold mining companies. The research analyses the indicators of CEO power, such as: the amount of CEO remuneration; the share of company stocks owned by him; the term of office. The general index of CEO authority is derived by combining individual characteristics. The methodology used is an econometric analysis of panel data on 36 of the world's largest public gold mining companies for the period from 2015 to 2020. The efficiency of gold mining companies is measured using a market indicator - Tobins'Q, which allows you to make a decision about investing in an enterprise aimed at sustainable development. Gold mining companies successfully implement ESG projects and become a full-fledged object for investment. The results of the study show that ESG rating and its three components (environmental, social and managerial) have a positive impact on the market efficiency of gold mining companies. Of the considered characteristics of CEOs, two of them - the amount of CEO remuneration and the percentage of shares ownership, have a positive impact on the market efficiency of companies. The term of office does not have a significant impact on the effectiveness of companies. The overall indicator of authority contributed to the increase in efficiency due to two characteristics. If we consider the CEO as an intermediary between investing in ESG projects and increasing the company's efficiency, it turned out that only an influential CEO, characterized by a high amount of remuneration, can contribute to increasing the ESG rating and improving the company's market efficiency. The findings illustrate the peculiarities of the influence of the CEO's characteristics on the performance of gold mining companies, taking into account the principles of ESG. The results of the study will improve corporate governance of gold mining companies to ensure the growth of performance indicators, taking into account the specificity of the industry and its focus on sustainable development.

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“…Making EIs calculable via ranking can contribute to enhanced environmental performances of EI firms. Investigating the environmental ranking of Russian mining and metal companies, Knizhnikov et al (2021) discover the role of this ranking system in fostering corporate self-assessment for future alignment with international practice. Overland et al (2021), examining the Arctic Environmental Responsibility Index ranking covering 120 extractive companies, argue that this ranking acts as a governance tool, triggering environmental competition among extractive companies for higher rankings and putting low-ranked extractive firms under legal and public pressure.…”

Section: Accounting Infrastructure and Promissory Sustainable Extract...mentioning

confidence: 99%

Accounting infrastructure and promissory sustainable extractive industries: an actor-network theory analysis

Tran

Nguyen

Lemma

2023

MEDAR

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Purpose This study aims to articulate the conceptual foundations of the role of accounting infrastructure (calculative practice and the communicative dimension of accounting) in extractive industries (EIs) towards a sustainable orientation from an actor-network theory (ANT) perspective. Design/methodology/approach This study is a literature-based analysis of the calculative property and communicative dimension of accounting in EIs, using the concepts of calculability, assemblage and other related concepts from ANT to identify potentialities and limits of the roles of accounting in this sector. Findings While accounting infrastructure can influence social and environmental outcomes, it has not, as yet, led to ecologically and socially sustainable practices in EIs. Calculative properties and the communicative dimension of accounting infrastructure have capabilities to foster the phenomenon of “sustainability” in EIs by valuing, disclosing (reporting) and governing EIs towards a sustainable orientation. Conceptualizing sustainable EIs as a promissory economy, accounting infrastructure serves as a tool not only to represent past performance but also to enact the future: it helps to shape a sustainable future for the industry by informing and triggering behavioural decisions of EIs firms towards sustainable practices. Research limitations/implications This conceptual paper is anticipated to stimulate future sustainability accounting research. The research agenda discussed in this paper can be used to enrich our understanding of the role of accounting in sustainability. Originality/value This paper charts a direction for future research by interpreting the role of sustainability accounting within networks of sociotechnical relations, using ANT concepts which attach importance to the dualism of nature and society. Conceptualizing sustainability accounting and reporting as an infrastructure, which draws more attention to the relationality characteristic of accounting, the study goes beyond the traditional interpretation of accounting as a mediation device and draws on a contemporary view of accounting by invoking the dynamic relation between accounting and society, in the context of EIs.

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Environmental transparency of Russian mining and metal companies: Evidence from independent ranking system

Cited by 13 publications

References 73 publications

Selection of Open-Pit Mining and Technical System’s Sustainable Development Strategies Based on MCDM

Selection of Open-Pit Mining and Technical System’s Sustainable Development Strategies Based on MCDM

The Influence of Ceo's Characteristics on Esg Rating and Efficiency of Gold Mining Companies

Accounting infrastructure and promissory sustainable extractive industries: an actor-network theory analysis

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