Magnetics Business & Technology - Summer 2012 - (Page 14)

FEATURE ARTICLE Furthermore, 56 percent of companies expected their investments in green product development to be greater in 2011, compared to 28 percent who expected it to be the same as in 2010. There are several factors probably at work in prompting a growing number of companies to respond, and in some cases strive to lead, in the area of CSR. These include: globalized workforces and supply chains have created environmental pressures and liabilities, intensified competition for natural resources especially with the rise of China and India, ‘externalities’ such as CO2 and water use are fast becoming material to investors, consumers are seeking sustainable products / services, and governments are interceding with unprecedented levels of regulation: e.g. recent SEC ruling that climate risk is material to investors. Irrespective of what’s prompting corporations or organizations to react or act, employees, customers, investors and regulators (to name but a few stakeholders) know and appreciate the priorities, initiatives and results of the actions. However, research has also shown that while companies may provide consumers information on their environmental, employee, community and governance actions and performance, for the most part, this data is limited, difficult to access or doesn’t exist. Apparently, of the Fortune 1000, about 70 percent talk about CSR on their website, but only an estimated 27 percent provide a formal CSR report. The percentage of smaller companies reporting their CSR performance is even lower. Socially responsible investors, or ESG (environment, social and governance) oriented research firms, publishers, bloggers, and government agencies do review and analyze the behavior of thousands of companies. They are starting to dig down for the evidence, so why not just give it to them. So how can organizations help themselves, their customers, investors, employees and the communities in which they work, to better understand their sustainability commitment, policies, practices and performance? It isn’t necessarily as simple as making a list; however the following seven practices have held me in good stead. 1. 2. There are a number of tools and reporting frameworks available to help companies focus their reporting: The Global Reporting Initiative (GRI) is a non-profit organization that promotes economic, environmental and social sustainability. GRI provides companies and organizations with a comprehensive sustainability reporting framework that enables all companies to measure and report their sustainability performance. The GRI Reporting Framework (or Pathways approach) clearly walks the reporter through a series of standard disclosures and reporting indicators, which can easily be applied to any industry or business segment. These disclosures address Economic, Environmental, Social, Human Rights, Labor, Society and Product Responsibility. The GRI offers 92 distinct performance indicators (for the highest, Level A reporters. The minimum number of indicators required for a Level C report is 10). The GRI offers an additional set of sector-specific indicators (e.g. Mining and Metals Sector Supplement, comprised of 11 indicators also spread across the six categories). The GRI environmental indicators (hopefully I haven’t put you to sleep as yet), the individual indicators cover a broad range of policy and activities: materials, energy, water, biodiversity, emissions effluents and waste, products and services, compliance and transport. The GRI also provides those preparing annual reports, as well as for those reading or assessing the annual reports, with a set of criteria against which to compare company profiles and performance. Visit www.globalreporting.org for further information. Other industry and professional organizations offer their own environmental and social reporting frameworks. The Prospectors and Developers Association of Canada (PDAC), established in 1932, represents the interests of the mineral exploration and development industry. It is a national organization with some 7,700 individual members - prospectors, developers, geoscientists, consultants, mining executives, students, drilling, financial, investment, legal and other support fields and 1,100 corporate members, including senior, mid-size and junior mining companies and organizations providing services to the mineral industry. The PDAC readily makes available its e3 Plus - A Framework for Responsible Exploration available. It is designed to help exploration companies integrate and continuously improve their social, environmental and health and safety performance in all their exploration programs. For more information visit pdac.ca/e3plus. The Mining Association of Canada (MAC) has developed a set of Towards Sustainable Mining (TSM) Guiding Principles that outlines a commitment to support advocacy, stewardship and collaboration on behalf of the mining and mineral-processing industry. It was developed in collaboration with key stakeholders to help members meet society’s needs for minerals, metals and 3. 4. 5. 6. 7. Move early, even if information is incomplete Balance broad, long-tern vision with projects offering concrete, near-term ‘wins’ Drive sustainability top-down and bottom-up Aggressively de-silo sustainability, integrating it throughout company operations Measure everything, and if ways of measuring something don’t exist, start inventing them Value intangible benefits seriously Try to be authentic and transparent, internally and externally 14 Magnetics Business & Technology • Summer 2012 www.MagneticsMagazine.com http://www.globalreporting.org http://www.pdac.ca/e3plus http://www.MagneticsMagazine.com

Table of Contents for the Digital Edition of Magnetics Business & Technology - Summer 2012

Magnetics Business & Technology - Summer 2012
Editor's Choice
Injection Molded Magnets for Electrical Machines
The Process of Developing and Testing a New Transformer
Rare Earths & Corporate Social Responsibility
Research & Development
RE-use, RE-duce, RE-cycle, RE-place
Magnets • Materials • Measurement
Application • Component Developments
Industry News
Rare Earth Crisis Dissected: Securing the Future
Marketplace
Advertising Index
Spontaneous Thoughts: The End of Axial Pressing?

Magnetics Business & Technology - Summer 2012

Magnetics Business & Technology - Summer 2012 - (Page Intro)
Magnetics Business & Technology - Summer 2012 - Magnetics Business & Technology - Summer 2012 (Page Cover1)
Magnetics Business & Technology - Summer 2012 - Magnetics Business & Technology - Summer 2012 (Page Cover2)
Magnetics Business & Technology - Summer 2012 - Magnetics Business & Technology - Summer 2012 (Page 3)
Magnetics Business & Technology - Summer 2012 - Editor's Choice (Page 4)
Magnetics Business & Technology - Summer 2012 - Editor's Choice (Page 5)
Magnetics Business & Technology - Summer 2012 - Injection Molded Magnets for Electrical Machines (Page 6)
Magnetics Business & Technology - Summer 2012 - Injection Molded Magnets for Electrical Machines (Page 7)
Magnetics Business & Technology - Summer 2012 - Injection Molded Magnets for Electrical Machines (Page 8)
Magnetics Business & Technology - Summer 2012 - Injection Molded Magnets for Electrical Machines (Page 9)
Magnetics Business & Technology - Summer 2012 - The Process of Developing and Testing a New Transformer (Page 10)
Magnetics Business & Technology - Summer 2012 - The Process of Developing and Testing a New Transformer (Page 11)
Magnetics Business & Technology - Summer 2012 - The Process of Developing and Testing a New Transformer (Page 12)
Magnetics Business & Technology - Summer 2012 - Rare Earths & Corporate Social Responsibility (Page 13)
Magnetics Business & Technology - Summer 2012 - Rare Earths & Corporate Social Responsibility (Page 14)
Magnetics Business & Technology - Summer 2012 - Rare Earths & Corporate Social Responsibility (Page 15)
Magnetics Business & Technology - Summer 2012 - Research & Development (Page 16)
Magnetics Business & Technology - Summer 2012 - RE-use, RE-duce, RE-cycle, RE-place (Page 17)
Magnetics Business & Technology - Summer 2012 - RE-use, RE-duce, RE-cycle, RE-place (Page 18)
Magnetics Business & Technology - Summer 2012 - RE-use, RE-duce, RE-cycle, RE-place (Page 19)
Magnetics Business & Technology - Summer 2012 - RE-use, RE-duce, RE-cycle, RE-place (Page 20)
Magnetics Business & Technology - Summer 2012 - Magnets • Materials • Measurement (Page 21)
Magnetics Business & Technology - Summer 2012 - Application • Component Developments (Page 22)
Magnetics Business & Technology - Summer 2012 - Application • Component Developments (Page 23)
Magnetics Business & Technology - Summer 2012 - Industry News (Page 24)
Magnetics Business & Technology - Summer 2012 - Rare Earth Crisis Dissected: Securing the Future (Page 25)
Magnetics Business & Technology - Summer 2012 - Rare Earth Crisis Dissected: Securing the Future (Page 26)
Magnetics Business & Technology - Summer 2012 - Rare Earth Crisis Dissected: Securing the Future (Page 27)
Magnetics Business & Technology - Summer 2012 - Rare Earth Crisis Dissected: Securing the Future (Page 28)
Magnetics Business & Technology - Summer 2012 - Advertising Index (Page 29)
Magnetics Business & Technology - Summer 2012 - Spontaneous Thoughts: The End of Axial Pressing? (Page 30)
Magnetics Business & Technology - Summer 2012 - Spontaneous Thoughts: The End of Axial Pressing? (Page Cover3)
Magnetics Business & Technology - Summer 2012 - Spontaneous Thoughts: The End of Axial Pressing? (Page Cover4)
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