Only a third of the biggest mining and oil companies have a published policy on biodiversity, even though half are doing work in this area, research has shown.
A study of 20 global extractive companies found only seven have publicly stated their position on protected zones. However, exactly half the companies are implementing a company-wide biodiversity policy and two-thirds have integrated biodiversity into their environmental management system.
UK-based fund managers Isis Asset Management, which carried out the survey, said companies must be more rigorous and consistent in their approach, take account of their impact on natural habitats, and publicize their policies more widely.
Isis said the study showed seven of the companies, including two ‘super majors’ – Exxon Mobil and Total – were doing virtually nothing to protect habitats and species, while a middle-ranking ‘chasing pack’, including BHP Billiton, Cairn Energy, ChevronTexaco, Newmont Mining and Woodside Petroleum, fared rather better.
In terms of biodiversity policy, management and reporting, Anglo American, BG Group, BP, Rio Tinto, Shell and Statoil were among the best performing companies of any industry sector.
However, Isis warned that they could not afford to rest on their laurels as they had all only recently begun to take account of their impact on biodiversity.
Isis says the companies should work together to establish minimum standards because the sector is only as strong as its weakest link, and a poor performance from one company would taint the reputation of all the others.