International Mining Company - Customer Story
The Challenge
An international mining company had seen Environmental Social and Governance (ESG) disclosure demands from its many stakeholder groups increase significantly since 2019. Initially, they had reported on their corporate social responsibility goals and aligned to the United Nations Sustainable Development Goals (UN SDGs), but many external stakeholders were pushing them to report to more rigorous standards like the Global Reporting Initiative (GRI) and Sustainable Accounting Standards Board (SASB) to give the company’s reports more credibility.
After initial attempts to achieve this reporting with in-house tools, the mining company quickly realized they would need something more focused on ESG reporting. Their team chose a popular tool that it found via online research that promised to help with producing reports aligned to standards like GRI and SASB.
While helpful with analyzing data in graphs and producing final reports, behind the smoke and mirrors this product was not much more than a glorified spreadsheet when it came to collecting data and performing calculations. Although the mining company had invested in technology to streamline its ESG reporting, it was not getting the full value it expected and reporting demands were not letting up.
The Evaluation
The mining company had been using IsoMetrix as its Environmental, Health, and Safety (EHS) platform for many years, and was excited to learn about IsoMetrix Lumina, the solution for ESG management and reporting.
The sustainability manager at the mining company was immediately impressed with Lumina’s ability to use multiple methods to gather data, allowing the organization to connect with different internal and external stakeholders to import data into the platform directly.
Additionally, they liked how IsoMetrix Lumina had a built-in carbon calculation engine, meaning calculations would no longer need to be managed on spreadsheets where formulas could easily be broken. The sustainability manager was eager to automate several components of the ESG disclosure process, and the mining company adopted Lumi as its ESG reporting technology solution.
Using Lumina has significantly reduced many of the manual burdens the mining company experienced when producing its initial ESG reports.
The Results
Wasting no time, the mining company moved most of its ESG management processes onto IsoMetrix Lumina. The ease with which it was able to create digital forms and schedule them for recurring data collection significantly reduced the twin manual burdens of outreach and data gathering reminders from across the organization and its partners.
Over the years, the mining company had developed proprietary formulas for carbon calculations that dealt with its specific operations. Being able to upload these custom formulas without the need for special services was a huge relief, as many other ESG and carbon accounting offerings required custom work at additional expense to integrate any custom calculations.
When the mining company began to enter its GRI and SASB data, it realized how much time was saved and complexity was reduced with the linked indicator libraries that aligned data inputs to the reporting standards. This meant the GRI and SASB reports would automatically update any time relevant data was added to the solution.
Using Lumina has significantly reduced many of the manual burdens the mining company experienced when producing its initial ESG reports. With more than 60 users across four countries managing different parts of ESG data collection, governance, and compliance disclosures, the mining company is now looking forward to producing its first end- to-end ESG report using IsoMetrix Lumina.