Several factors can play a key and determining role in the success of mining companies’ efforts to improve environmental, social and governance credentials, especially as it relates to the management of community trusts to drive social impact, reports social investment fund manager and advisory Tshikululu Social Investments social impact head Dipalesa Mpye. While the mining industry remains an important sector of South Africa’s economy for its financial contribution and its role as a significant employer, Mpye points out that there are on-going challenges with the transformation of the sector and the delivery of tangible benefits to mining communities.
Several factors can play a key and determining role in the success of mining companies’ efforts to improve environmental, social and governance credentials, especially as it relates to the management of community trusts to drive social impact, reports social investment fund manager and advisory Tshikululu Social Investments social impact headWhile the mining industry remains an important sector of South Africa’s economy for its financial contribution and its role as a significant employer, Mpye...
“We partner with our clients to support them in implementing best practice, including in the area of community and stakeholder engagement. This can be challenging, but it is critical for communities and community trusts to find alignment in their development goals,” she says. Once a benchmarking assessment is concluded, its key findings are distilled into best practices that provide insights into the key characteristics shared by well-managed trusts from the perspectives of governance, operations and strategy to achieve long-term sustainable impact for the communities they serve, she says.
In this regard, Mpye says strategy should encapsulate a trust’s purpose, taking into account factors such as the trust’s size, geographic context, critical stakeholders and the needs and priorities of the beneficiary communities and those of the trust’s founding company. Serving the community means that related trusts should have intentional community engagement and involvement, she points out. “Effective community trusts engage consistently and transparently with their community, seeking feedback and involving beneficiaries in decision-making processes.”
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