Sustainability in the Global Mining Industry
How do you expect customer demand for sustainable products / services in the mining industry to change in the following regions over the next 12 months?
Dallas, Texas (PRWEB) December 12, 2012
Sustainability management budgets in the mining industry are expected to rise by an average of 8%. A total of 55% of respondents expect an increase in sustainability budgets, of which, 21% expect budgets to increase between 5% and 10%. The increased awareness about sustainability among governments and mining industry stakeholders has resulted in the creation of numerous guidelines and regulations. The implementation and adherence to these sustainability guidelines and practices has resulted in an increased allocation of funds in companies’ budgets towards sustainability initiatives. On average, respondents from supplier companies expect an increase of 5.3% in their sustainability budgets in 2012–2013, which reflects supplier companies’ desires to remain competitive, the increasing demand from clients, product innovations, the importance of building energy efficient equipment, and increasing sales.
Globally, informed opinion among mining companies identified Canada, the US, and Brazil as the markets with the strongest growth opportunities for sustainable products and services in 2012–2013. The industry survey demonstrated that 53% of buyer respondents identified Germany to be an important growth region, followed by Brazil, the US, and Canada. These expectations are strongly influenced by government policy; for example, the Canadian government has created an organization to promote sustainable mining. This organization supports technologies that address the challenges of climate change, clean air, soil, and water, including technology solutions focused on priority areas such as improving the efficiency of the largest water users and addressing the most sensitive points of water and soil contamination.
‘Cost-savings and operational efficiency’, ‘compliance with legislation’, and ‘growth opportunities’ are identified by respondents from buyer companies as factors that influence the sustainability efforts of their organizations. Supplier respondents identified ‘cost savings and operational efficiency’, ‘strengthening competitive position’, and ‘growth opportunities’ as factors that influence the sustainability efforts. Globally, mining industry buyers identify ‘cost savings and operational efficiency’ as the important drivers that influence organizational sustainability practices; the efficient management of natural resources helps the company to strengthen its competitive position and also helps to reduce cost and increase operational efficiency, and in addition, mining companies across the globe are required to adhere to certain environmental and legal regulations within the region in which they operate.
Key Highlights on “Sustainability in the Global Mining Industry 2012-2013 - Market Trends and Opportunities, Profitability and Budget Forecast, Mining Industry Procurement and Marketing Initiatives”
- Overall, 'surface and highwall mining equipment', 'health and safety services and equipment', 'pumps, compressors, valves and actuators', and 'power supply, engines, transmission and drives' are the most-implemented sustainable procurement practices.
- Corporate and brand websites', 'email and newsletters', and 'conferences and events' are considered to be the most important marketing channels by 43%, 42%, and 38% of supplier respondents respectively.
- Corrosion resistant and metallic based materials', 'materials which reduce fuel consumption', and 'energy efficient materials that have a low impact on the environment' are the key attributes of green procurement, as identified by 47%, 40%, and 33%of buyer respondents respectively.
- On average, buyer companies in the global mining industry plan to allocate 24% of their total procurement budgets for sustainable products and services in 2012-2013.
- Explaining cost-benefit of sustainability to clients', giving 'informal presentations', and sending 'educational marketing messages' are considered the most important steps to be taken by supplier companies in order to market their green credentials to clients.
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Major Points from Table of Contents:
- Introduction
- Executive Summary
- Sustainability in the Mining Industry
- Implementation of Sustainability
- Financial Implications of Sustainability
- Sustainable Procurement
- Marketing Green Initiatives
- Appendix
- List of Tables
- List of Figures
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