While Australia’s mining companies responded to the events of 2020 with great strength and resilience, environmental and market forces are putting pressure on the industry to accelerate climate efforts. Now is the time to invest in climate capability for a resilient mining sector.
Globally, few organisations were adequately prepared for the turmoil that inundated 2020. The confluence of a global health pandemic, social and political unrest, and worsening climate events upended the private and public sectors around the world, and Western Australia was not immune.
Australia’s mining industry will continue to face many disruptive forces in the future. We are seeing already some of these forces at play: the impact of technology on automation in jobs, the changing expectations of investors and shareholders, and the changing climate of the planet.
Traditionally we think about the impacts of climate change as gradual: a gradual warming of the planet, a gradual rising of the oceans. But we have also witnessed events of extreme weather in recent years. Mining organisations have the opportunity in front of them today to both prepare for the gradual and prepare for the sudden impacts of climate change. This is not another black swan event; we know the risks we are facing. We have a decision to make now as to how we invest in our climate capability for a resilient mining sector.
Climate resilience involves organisations developing the ability to adapt to and respond to climate change to better manage risks and seize opportunities. This requires resilient leaders. Leaders that plan and invest in anticipation of disruption—whether it’s a gradual transformation or a sudden pandemic—are better positioned to adapt, rebound and endure. While the future is uncertain, it's critical to empower resilient leadership and to develop a range of contingency plans to prepare for tomorrows challenges.
To help you begin strategising, this report will explore our climate resilience checklist:
As well as the key drivers pushing this transition and the climate capabilities miners need now and in the future.