1789 social, and governance performance, enhancing transparency and credibility (Copper Mark, 2024).These systems reduce uncertainty and enable stakeholders to assess production practices with greater confidence. Traceability is increasingly becoming an operational and financial capability rather than solely a reporting requirement. 5. IMPACT MEASUREMENT AND DATA GOVERNANCE Reliable measurement is essential for impact-oriented mining, as it enables companies to translate sustainability objectives into quantifiable and decision-useful indicators. Since the late 1990s, following the emergence of sustainability reporting frameworks such as the Global Reporting Initiative (founded in 1997), measurement practices in mining have evolved from voluntary disclosure toward standardized ESG and impact frameworks. During the early 2000s, reporting focused mainly on transparency and compliance, while over the 2010s, growing investor scrutiny and regulatory pressure increased the strategic and financial relevance of ESG indicators. Frameworks such as GRI, SASB, TCFD, and IRIS+ now support the monitoring of key environmental, social, and governance variables, including emissions intensity, water use, tailings management, safety performance, and community impact (GIIN, 2021; CFA Institute, 2023). A critical evolution in sustainability measurement is the incorporation of double materiality, which gained prominence after the 2015 Paris Agreement and has since been reinforced by European regulatory developments. This approach extends ESG measurement beyond financial risk to include the impacts of mining activities on environmental and social systems, strengthening risk management and long-term value creation (Ozdemir, Huchet-Bodet, & Pérez Ludeña, 2023). Figure 2 – Evolution of ESG Regulation Mining The effectiveness of these indicators depends on robust data governance systems. From the mid2010s onward, Environmental and Social Management Systems (ESMS) and integrated digital platforms have become essential to ensure consistent and reliable ESG data while linking sustainability performance to operational and financial outcomes (KPMG, 2024). As a result, indicators have evolved from compliance-based reporting tools into strategic management instruments. Mining companies that develop robust impact measurement and data infrastructure are better positioned to manage risk, demonstrate performance, and maintain competitiveness in sustainability-driven mineral markets. 6. METRICS, DATA AND TECHNOLOGY AS STRATEGIC ENABLERS The transition toward impact-oriented mining requires the use of measurable, reliable, and financially relevant indicators that enable companies to integrate sustainability into strategic and operational decision-making. Sustainability reporting initially emerged as a voluntary practice in the late 1990s, with the Global Reporting Initiative (GRI) providing the first widely adopted framework focused on transparency. As ESG considerations became increasingly relevant for capital markets, financial stakeholders drove the development of frameworks better aligned with investment risk. SASB marked a turning point by explicitly
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