O ESG nas mineradoras da bolsa

Abstract

In light of growing pressure for transparency and sustainability in the mining sector, this study analyzes the level of adherence to Environmental, Social, and Governance (ESG) principles among mining companies listed on the Brazilian stock exchange (B3), based on their 2024 sustainability reports. The qualitative and descriptive study employed a systematic literature review and documentary analysis of the reports from the following publicly traded companies: Aura Minerals, Companhia Brasileira de Alumínio (CBA), CSN Mineração, and Vale S.A. A structured checklist, based on the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) standards, was used to map the most relevant practices and indicators for the extractive sector. In the environmental pillar, practices related to natural resource management and the mitigation of environmental impacts were analyzed. In the social pillar, aspects related to working conditions, employee training, and relationships with affected communities were evaluated. In the governance pillar, aspects related to corporate transparency, organizational integrity, and the structure of boards of directors were examined. The results indicate high adherence to governance and socio-environmental management criteria, although the comparative analysis revealed information asymmetries among companies, evidenced by differences in the scope and depth of the information disclosed. While some companies provided greater coverage of the evaluated indicators, others had gaps in the disclosure of critical data related to biodiversity monitoring, environmental fines, and operational accidents. The findings contribute to understanding the ESG maturity stage of Brazilian mining companies and provide insights for investors, regulators, and managers in assessing sustainability practices and corporate transparency. It is concluded that, although the sector has made progress in incorporating ESG practices, challenges remain regarding the standardization of indicators and the transparency of the disclosed information.