To create real sustainable value, businesses must find a three-pronged balance between business profitability, social wellbeing, and the environment, said Nelson Núñez Vidal, the manager of Sustainability and Compliance at Peñasquito Mining, Goldcorp México, in his lecture “Sustainability: The Only Way to Do Business,” during the 2017 April–June quarter welcome ceremony, at EGADE Business School, Monterrey.
Nelson Núñez Vidal, the manager of Sustainability and Compliance at Peñasquiteo Mining, Goldcorop México, gave the lecture “Sustainability: The Only Way to Do Business,” at the EGADE Business School, Monterrey, 2017 April–June quarter kickoff.
“Value is misunderstood when we talk about sustainability from only an environmental perspective—‘I am sustainable when I have three bins in my office to separate recycling’—, but we sidetrack our real environmental impact. Sustainability is also misunderstood when we say, ‘I have reasonable financial projections, I have an X-based Business Social Responsibility program, I donate some,’ but we don’t offer a value mix from the social, environmental, and economic standpoint. If, as a business, I manage only my impact, I’m not creating value, I’m not contributing to sustainability, I’m simply evening out what I’m taking away,” he added.
Núñez Vidal noted that sustainability has evolved since the early 2000s, moving on from simply a matter of public relations, of strategic donations, to what it is today, a method that allows businesses to bring about change and to project their businesses in the long term, aligned with large organizations and tools, such as the Mexican Philanthropic Center (Cemefi), the SRB Distinction, the ISO 26000 Social Responsibility standard, the UN Global Compact, and the Global Reporting Initiative (GRI).
“I firmly believe that sustainability is the only way to do business today, thinking long term. Sustainability is a specific way for us to generate wealth, value, and not just traditional economic and financial value but a true value that goes beyond the classic definition of what a company can do,” he stated.
Regarding the economic value created by the industry where Goldcorp works, Núñez Vidal noted that mining as an economic activity contributes 12% to the national production value, and that the five-largest mining companies in the country produce only 4.9% of the country’s GDP. He added that Goldcorp is an important gold producer, focusing on responsible mining, safe production, and low-cost practices throughout Latin America.
“At Goldcorp, our vision, ‘creating sustainable value together,’ describes the reason that we are in this business. Sustainable value means creating value for our investors and employees. But even more important, we also create careers, we support community development activities, and our operations generate wealth every day at the local, regional, and national levels. We are committed to guaranteeing that wherever we work, things remain the same or better than how we found them. And even more important, we want to have a positive, lasting impact on people’s lives through our business,” he said.
“To make sustainability grow,” he added, “we are responsible for leaving behind an economic, social, and environmental legacy everywhere we work. Our results are driven by good public affairs management, collaborative societies, innovation, and a responsible use of resources.”
As examples of sustainable economic benefits that companies can leave in the places they work, Núñez Vidal mentioned creating local jobs, buying local goods, and contributing to the community.
Before the lecture, Dr. Teresa Almaguer Salazar, the School’s academic director, introduced the EGADE Business School Sustainability Strategy, and to conclude the event, Dr. Gerardo Lozano Fernández, the director of the SUSTENUS Center, gave Núñez Vidal a gift in the name of the EGADE Business School community, to thank him for taking part.
Get out latest news in your inbox.