Just last week there was a very interesting announcement that came out from Barrick Gold Corporation (ABX) for which I believe the company deserves kudos. They announced that they have put together a Corporate Social Responsibility Advisory Board which includes names like:
- Aron Cramer – Business for Social Responsibility
- Elizabeth Dowdeswell – Council of Canadian Academics and former Executive Director of the UN Environmental Program
- Robert Fowler – dimplomat and senior foreign policy advisor
- Ed Lieboxw – Director of Battelle Memorial Institute’s Seattle-based Center for Public Health Research and Evaluation
- Gare Smith – senior partner at Foley Hoag LLP and former Principal Deputy Assistant Secretary in the US State Department’s Bureau of Democracy, Human Rights and Labor
- John Ruggie – Author of the UN Guiding Principales on Business and Human Rigths, will also serve as a Special Consultant
In particular I find this very interesting and innovative on behalf of a global mining company. Investors are increasingly understanding the importance of a variety of issues relating to sustainability (in particular Environmental, Social and Governance) and more so, these issues can impact a company’s valuation. Being innovative to bring together global leaders in sustainability to assist the company as it drives forward is leading edge. Hopefully other global companies will understand the value of this kind of advisory board and that we will see other such advisory boards develop with a variety of players coming to the table to assist public corporations!
Kudos Barrick Gold for the leading the way!