Project Impact at a Glance
Increased improvement in the Corporate Sustainability Assessment rating
Improved S&P CSA score from 27 in FY21 to 44 in FY23, a 38% increase over two years.
The Objective
For the past four years, Australian gold producer Ramelius Resources has been invited to participate in the S&P Corporate Sustainability Assessment (CSA), an annual evaluation of corporate sustainability practices. It is generally limited to the ASX200 and focuses on sustainability criteria that are both industry-specific and financially material.
An enhanced ESG ratings score helps a company to improve its stakeholder relationships, drive greater investments, access lower-cost capital and green bonds and make strategic decisions in a more effective and sustainable manner. Futureproof has been working on an annual basis with Ramelius Resources to review and improve its rating agency ratings.
The Work
ESG ratings management is a demanding, time intensive process. It requires a large amount of qualitative and quantitative detail covering 23 different key themes across economic, social and environmental dimensions, accompanied by supporting evidence.
Futureproof worked closely with the Ramelius Resources team to identify gaps, develop an action plan and manage the data submission. Ramelius Resources updated policies and procedures, implemented new practices and captured a greater number of performance indicators, with the work reflected in its annual Sustainability Report. Bridging these gaps means that Ramelius Resources satisfies a greater number of disclosure requirements for the next submission.
The Result
Ramelius Resources received a significant score improvement in its 2023 CSA assessment, moving from a rating of 27 (FY21), 33 (FY22) to a score of 44 in FY23, a 38% increase over two years. This means they now score well above the average industry benchmark across all ESG dimensions. Areas that improved the most from previous submissions were Cybersecurity, Biodiversity, Labour Practice Indicators and Asset Closure Management.
Futureproof are proud to support Ramelius Resources to improve its sustainability performance, while helping the company progress its ESG ratings.
| FY21 | FY22 | FY23 | |
|---|---|---|---|
| S&P Score Graded 1-100 |
27 | 33 | 44 |
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