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Analysis of a Corporate Social Responsibility Report

Essay by   •  November 13, 2011  •  Case Study  •  1,348 Words (6 Pages)  •  2,208 Views

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Introduction

Newmont Mining Corporation was founding in 1921, and has been a publicly traded company since 1925. As one of the world's largest gold producers, Newmont Mining Corporation has facilities located within the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand, and Mexico. In addition, it is the only gold company included in the S&P 500 and Fortune 500 indices. With over 35,000 worldwide employees and contractors, Newmont Mining Corporation's Headquarters is located near Denver, Colorado.

Newmont Mining Corporation maintains a set of high corporate standards, which it expects it employees to follow and uphold. These policies are reflected through their corporate social responsibility report, "Beyond the Mine, The Journey Towards Sustainability". This document addresses a variety of issues including, but not limited to, the community, environment, people, health and safety, stakeholder analysis, standards and regulations, Newmont's case for business, social accounting, "Stages of Corporate Responsibility", corporate social responsibility, and company priorities. Much of the information contained within the report is a compilation of issues identified by key stakeholders, operational performance procedures, public and private policies, and industry standards.

Community

Newmont Mining Corporation strives to develop working relationships with the local communities located near their mining operations. In March 2009 the organization released their Community Relationship Review (CRR), which detailed Newmont's strong values and beliefs at maintaining healthy relationships within the local communities.

Environment

Newmont's mining operations can be found in several different countries around the world, and in several different ecosystems. As a result, Newmont strives to lessen and minimize the impact of mining activities within these regions, and strictly adheres to local and national laws, requirements, and guidelines governing mining practices in each region. In 2009, Newmont's focus was on the following activities: (Newmont, Environment)

1. Greenhouse gas management - preparing for reporting; policy development, project initiatives evaluating offset options; evaluating renewable energy opportunities; and developing a better understanding of biodiversity preservation in the context of global climate change.

2. CN code certification and strengthening code implementation.

3. Developing better environmental performance during the exploration phase of the mining lifecycle through development of the exploration environmental guidebook.

4. ISO14001 certification for all of our sites.

People

Due to the diversity of Newmont's workforce, cultural sensitivity lies at the center of their human resource strategies. The organization encourages a leadership environment, which enables their employees to contribute to the organization and promotes individual success. In addition, the organization attempts to adapt its employment practices to the locations in which they are performing business activities.

Health & Safety

Newmont Mining Corporation promotes a safe and healthy work environment, in which their employees contribute to the successfulness of the organization. Through leadership and management teams, Newmont promotes a comprehensive work culture in which safety is a top priority.

Stakeholder Analysis

In order for an organization to be successful they must accurately identify individuals and/or groups that can positively and/or negatively impact the company. Once identified, these individuals have the ability to assist the organization in the development of projects, plans, policies, and programs, which help to propel the company forward within the industry. As a result, Newmont Mining Corporation involves key stakeholders such as local communities, employees, contractors, shareholders, investors, businesses, and nonprofit organizations in their approach to sustainability.

All stakeholders of the organization participate in a knowledge sharing relationship with one another. However, Newmont Mining Corporation also encourages many of their stakeholders to participate in a dialogue, shared work plans, and a shared responsibility relationship. These integral relationships and partnerships are what help to establish Newmont's goals and community focuses.

Standards & Regulations

Standards and regulations within the mining industry are developed in an effort to provide key stakeholders, senior management, employees, and the community with a system of measuring the organization's effectiveness and successfulness. In addition, it also serves as a guideline for the development and implementation of new operations, compliance with national and local laws, and accountability. As a result, Newmont is currently and actively involved in five key assurance initiatives: (Newmont, Environment)

 The International Council on Mining & Metals' (ICMM)

 The Global Reporting Initiative (GRI)

 The Initiative for Responsible

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