More than two-fifths (43%) of mining firms said that they are making progress on reducing emissions and improving biodiversity through the implementation of Internet of Things (IoT) solutions, a study has found.
An independent research report commissioned by satellite communications provider Viasat, Accelerating sustainable action through IoT, sought the views of more than 200 senior technology and ESG decision-makers within mining firms across Europe, North and South America, Africa and Asia.
‘More sustainable’
It found that 85% of respondents think their business is ‘more sustainable’ to that of their industry peers, with a similar number (84%) also noting that peers may be more focused on ‘perceptions’ around sustainability – rather than tangible metrics and outcomes – due to a lack of visibility of validated data.
A majority of surveyed industry leaders said that they feel their businesses can improve the measurement and understanding of sustainability performance by enhancing automation and digitising the data capture process.
“Amidst growing pressure to enhance operational sustainability and efficiency – combined with rising global inflation – the ability to track tangible ESG outcomes is a major concern for the mining industry right now,” commented Nicholas Prevost, market development manager (APAC) and director of mining, Viasat.
“The good news is that a significant amount of global mining companies surveyed have already seen positive impact from their investments in IoT solutions on commercial results. That is an important contributing factor in unlocking the necessary funding these businesses will need to further boost sustainability efforts and deliver profitable growth.”
IOT-enabled data and insights
The study also revealed that a significant number of respondents utilise operational data and insights from IoT to optimise sustainability initiatives and enhance operational efficiency. Specifically, 30% of participants use this data for direct engagement with local communities regarding sustainability, a similar percentage engage with industry peers, and 31% do so with customers.
According to Viasat, satellite-based IoT solutions play a crucial role in improving ESG communications and ensuring compliance with regulatory reporting, especially for companies operating in remote or rural areas where accessing real-time information consistently can be challenging.
