This week, La República, one of Colombia’s most important economic and financial newspapers, published a new article by Núria Vilanova titled Filantropía o Compromiso (Philanthropy or Commitment). She had the opportunity to accompany the mining sector in Cartagena while attending the National Mining Congress. Before President Iván Duque, Juan Camilo Nariño, president of the Colombian Mining Association, led the industry in signing the TSM agreement, the sustainability commitment pact created by the mining companies in Colombia. It is a crucial step for the mining industry. It means moving away from the concept of philanthropy (I do good) to that of sustainability (I am committed, my commitments can be measured, they will be public, and I will discuss them with stakeholders).
“Before this signing, I was a speaker at the conference Reputación y valor en tiempos de incertidumbre” (Reputation and Value in Times of Uncertainty). We are in an era of profound change. Covid has sped up many things. After the health crisis, there was a global economic crisis. Now, we are faced with another challenge: the environmental problem. These events are occurring at a time when society has changed and moved towards activism. Culture embraces banners, social and environmental causes…Causes that are not just slogans: they rally the masses, who then take to the streets, paralyzing economies and turning into severe crises, the manifestations initially sparked on social media.
Moreover, according to studies, a large part of society voluntarily chooses to be part of what we would call ‘information poverty.’ Many do not know the word algorithm, but they know that Google is not neutral. They do not believe in politicians, companies, or the media. Rather than verifying that information is accurate, they reject it. They seek refuge in people. They turn to their circle of trust, to their friends, to their family. Confusing their circle of trust with Whatsapp groups and nearby social networks. No matter how much the photo, video, or phrase appears on a friend’s Whatsapp, it is not first-hand information, and many times, it is manipulated information.
“Demagogy is a strategy used to achieve political power, which consists of appealing to judgments, emotions, fears…” read President Duque at the Mining Congress.
What is the best course of action in the face of this challenge? Data shows that companies lose value in the stock market when the public views them as “polluters”. However, those that position themselves as environmentally responsible multiply their value by up to a thousand times. Tesla is worth three times more than Volkswagen and Toyota on the stock market. However, Volkswagen and Toyota’s profits are 30 times higher.
We are facing a dilemma. We either accept mediocracy or make a firm commitment, a plan that will allow us to create a new blue ocean. It is time to feel proud and take a step forward; the world is demanding it. Colombia needs it. Right now is the ideal opportunity to create value for employees, citizens, the country, and shareholders.
We will soon see how Coquecol, one of the three most reputable mining companies in Colombia, will announce its new vision. It has only been two years since Omar González bought the company, growing from 100 to 1,200 employees. “I push myself, I am engaged, and I am contagious,” he says. Not only does he step forward in social and environmental commitments, but he also accepts the challenges that accompany change. Such change has taken a step forward in this Congress, where the mining community has asserted that it wants to contribute to being better. The company has reviewed everything and is committed to demonstrating it. They are not concerned about receiving medals but instead about leading this change, just before the ‘COP 26’ summit. People can be great activists for social and environmental change from all areas, including the mining industry.”
Click here to read the full article originally published in La República.
