Project: Nature Impact, Dependency, Risk and Opportunity Tool for a mining company
Client: Antofagasta
Location: Chile
Objective: Sustain Value was commissioned to develop a simple yet comprehensive and consistent approach for assessing the company’s mining operations and comparing alternative project options to demonstrate the company’s activities have a ‘Positive Impact’ and to allow better comparison of different issues and trade-offs to enhance decision-making.
Our role: Sustain Value initially developed an environmental tool called ‘Environmental Risk and Opportunity Valuation Assessment’ (EROVA) The tool identifies the environmental baseline as well as impacts, dependencies, risks and opportunities. It uses qualitative, quantitative and monetary approaches to compare multiple issues and evaluate how different stakeholder groups benefit or lose and by how much. The tool has been successfully applied to different mining operations, wetland/habitat restoration schemes, evaluation of alternative water sources, and evaluation of alternative tyre waste disposal options.
Outcome: The tool was used multiple times by the company for informing investors and informing key investment decisions. At the suggestion of Sustain Value, the original environmental (nature) focus was expanded to cover wider social and economic issues too – becoming ESE-ROVA.