ESG is dead…Long Live ESG! with Anastasia Kuskova

This episode explores the evolution of ESG (Environmental, Social, and Governance) and sustainability in the commodities sector, particularly within the metals and mining industry, post-COVID. Against the backdrop of initial widespread corporate commitments and rapid growth of sustainability teams, the discussion highlights a subsequent "vibe shift" driven by economic realities and changing policies. More significantly, the conversation reveals a move away from broad, often unsubstantiated ESG goals towards a more focused approach prioritizing material aspects directly impacting organizational goals and customer value. For instance, the example of Unilever retracting some ambitious sustainability commitments due to infeasibility is discussed. As the discussion pivoted to the current landscape, the challenges of navigating diverse regulatory frameworks and the administrative burden of meeting numerous data requests from stakeholders were emphasized. The guest, Anastasia Kuskova, introduced the concept of "double materiality," focusing on aspects impacting both the business and its stakeholders, and advocated for a more data-driven, revenue-focused approach to sustainability. Ultimately, the episode underscores the continued importance of ESG, albeit with a greater emphasis on demonstrable business value and the use of AI-powered tools to streamline data management and enhance efficiency, reflecting emerging industry patterns toward more targeted and economically viable sustainability initiatives.