Introduction to the Enduring Value framework
The South Australian Chamber of Mines and Energy (SACOME) has launched a Code of Conduct to drive continuous improvement in the South Australian resources sector.
The voluntary Code has been adopted from the Minerals Council of Australia’s Enduring Value Framework for sustainable development and offers a framework for mining, oil and gas companies to manage performance and demonstrate commitment to sustainable development.
Background to Enduring Value
The Minerals Council of Australia developed Enduring Value –The Australian Minerals Industry Framework for Sustainable Development in 2005. Enduring Value builds on the Australian Minerals Industry Code for Environmental Management – the platform for industry’s continual improvement in managing environmental issues since its introduction in 1996. The current 2015 framework is the result of a wide-ranging review and ensures that Enduring Value remains relevant to resource developments and operations and the expectations of stakeholders.
The Minerals Council of Australia continues to review and adapt Enduring Value to maintain this relevance and remain aligned with global leading practice. SACOME will assess any changes to the framework and consider implications for SACOME membership.
Applicability to SACOME membership categories
The Enduring Value framework applies to SACOME Industry Member companies involved in exploration, project development and operations in the minerals and energy resource sector. Signatories to the Code will be voluntary. Where Enduring Value references ‘minerals’, SACOME will apply ‘resources’ to ensure the Code of Conduct is applicable to SACOME oil and gas industry members.
How is Enduring Value structured?
Enduring Value is supported by 10 principles including the fundamentals of ethical governance, sound risk management and transparent engagement as well as individual principles relating to health and safety, employee rights, community development and environmental management. Each principle is translated into defined actions. A set of indicators have been defined for each principle that should be evident across companies that operate in accordance with the Code.
Minerals Council of Australia : Enduring Value Framework
Enduring Value Framework for sustainable development
Enduring Value Principles