Limited ESG due diligence among extractive commodity trading companies – new report reveals
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A new report, The ESG Due Diligence and Transparency Report on Extractive Commodity Trading, assesses 25 companies that have significant activities in the trade of oil, gas, metals or minerals. The companies score on average only 23% on ESG due diligence systems and 28% on disclosure of public-interest information. While most companies have made some level of commitment on issues such as human rights, anti-bribery and corruption, and environmental protection, there is much less evidence of systematic implementation of these commitments. In a sector prone to controversies, the report reveals that ESG risk management measures often fall short of the goals that companies have set themselves.