Microsoft Word - Document1 Impact of Regulatory Requirements on Sustainability Initiatives (130 points) Though sustainability initiatives are often driven by regulatory requirements, an increasing...

Impact of Regulatory Requirements on Sustainability Initiatives                1
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Contents
Introduction    3
Sustainability Policies of Ma’aden    4
Sustainability in terms of Employee Commitment    5
Safety    5
Waste Management    6
Increasing local content    6
Potential Issues    7
Conclusion    8
References    10
Impact of Regulatory Requirements on Sustainability Initiatives
Introduction
Sustainability has become one of the most important elements of the new millennia. With most businesses boasting of their sustainability initiatives, and how they have adapted their corporate social responsibility programs to bring about change in the environment, to communities around the company and to the employees as well (Pedersen, Gwozdz & Hvass, 2018). There are three different lines that companies keep in mind when looking at sustainable development- Financial, social and environmental risks. There are also obligations and opportunities that are kept in mind as well.
Sustainability has also been known to increase corporate value for the company as well. Sustainable development helps in ensuring that the needs of the future are not compromised when looking at the needs of the present as well (Whelan & Fink, 2016). This is because in the modern world, most customers look at sustainability as a way in which they choose the companies that they would prefer to buy from. Sustainability is also one of the important factors that can help increase brand value by ensuring that the company is able to get publicity and press. Thus, it can increase the corporate value of the company.
There is significant analysis that needs to be done in order to ensure that the sustainability policy of the company is in line with international standards. Many governments also have CSR policies and laws in place to ensure sustainability in various sectors (Lloret, 2016). The Saudi Arabian government for example, has policies in place for many companies related to sustainability in the environmental sector.
The following looks at some of the Sustainability initiatives of Ma’aden, which is the Saudi Arabian Mining Company. It also looks at how these policies have helped the company ensure that their corporate value increases. The following looks at the commitment of the company to CSR, Industrial Security and EHS policy as well.
Sustainability Policies of Ma’aden
Ma’aden is the fastest growing mining company in the world. It was owned by the Saudi Arabian government, until 2008, when 50% of the company’s stock had been put on the Saudi Stock Exchange. However, the company has been incredibly successful in becoming a global mining company which specializes in Gold, Aluminium, industrial minerals, phosphate and copper as well. The company has also launched many sustainable initiatives, and as part of the CSR initiatives has helped in the education of many individuals as well. Ma’aden has significant global ties with many companies, and in the process has also acquired a noteworthy number of mines in various parts of the remote region of Saudi Arabia, and helped develop it into a mine city, as well as have mines all over the world.
There are significant CSR policies of Ma’aden that need to be looked at critically. The first one is that of the commitment that it has to CSR. There are four basic pillars on which this is based. The first one is the commitment that the company has to the environment. By doing this, it has been found that the customer base of the company has grown significantly (Building a Sustainable Future, 2017). Since the company is no longer owned by the Saudi Arabian government, it has a responsibility to not just the customers, but the shareholders as well.
Mining is one of the most environmentally damaging acts, since it involves the relocation of hundreds of thousands of acres of land, and the potential of dust in the air, which can cause a significant amount of air pollution (Nicolăescu, Alpopi & Zaharia, 2015). Mining is also linked to water pollution and land pollution as well. Thus, in order to be competitive in the field of mining, it is essential for the company to promote sustainability and green initiatives so that they are ahead of the competition.
Sustainability in terms of Employee Commitment
Many of the CSR policies of the company have been geared towards providing employees with better opportunities, in order to...