Exploring the material costs of ignoring the “S” in ESG
Investors and project proponents are using Environmental, Social, and Governance (ESG) standards to evaluate project risks to anticipate or prepare for positive or negative impacts on their business. Although environmental and governance measures are well articulated in the industry, social measures remain ambiguous–that is, a company’s ability to manage their relationship with Indigenous groups, communities, suppliers, employees, and customers. This presentation explores the material impact on share price and project certainty that can ensue when social risks are not identified and managed using real-case examples. Furthermore, we will explore ways to identify and manage these risks for better business performance and offer insights in remaining socially diligent post COVID-19.
Chelsie Klassen, Global director, Indigenous Engagement, Hatch
Growing up in Northern Ontario, Chelsie connects her humble roots to all aspects of her work by listening intently and integrating stakeholder feedback into major project design. Her empathetic and proactive approach ensures that local cultural traditions are respected and social risks are managed. Chelsie has more than twelve years of experience in Indigenous collaboration, community engagement, land negotiations, issues management, and communications that spans across several sectors including nuclear, water power, chemicals, oil, natural gas, mining, and infrastructure. She holds a Bachelor of Arts degree in economics and a Masters of Arts in conflict management, allowing her to advance the business needs of her clients with an acute focus on public reputation. She’s worked with numerous stakeholders including Indigenous groups, local communities, government, media, C-suite executives, project teams, industry associations, and local suppliers. As a testament to her strengths, Chelsie was acknowledged as a 2020 United Nations Young Innovator for her work with Indigenous communities and was recognized by Oilweek magazine as the Rising Star for outstanding leadership in communications.