Abstract:
With the promotion and application of ESG principles in international capital markets, the ESG practice capabilities of mining enterprises have become a critical factor influencing their access to international market qualifications and policy support, expending financing channels, reducing financing costs. It also serves as a key component in driving the green transformation of the mining industry and safeguarding China’s energy and resource security. By reviewing the current status of ESG practice among mining enterprises in areas such as disclosure, ratings, and investment, this paper analyzes the challenges faced by China’s mining sector and explores effective ways to enhance its ESG capabilities and international competitiveness. The study reveals that ESG practice in China’s mining industry have the following characteristics: the rate of ESG disclosure has shown a year-on-year increase, yet gaps remain compared to international standards; international rating agencies demonstrate low coverage of Chinese mining enterprises, with overall ratings lagging behind global peers; and ESG-related equity investment in mining sector remain limited in scale, coupled with a lack of ESG index investment products tailored to the industry. There are certain challenges in the international competition of critical minerals, the local adaptability of international rating indicators, the lack of industry-specific features in mainstream disclosure guidelines, and a significant talent gap in ESG expertise within the mining sector. Our mining industry should synergize efforts in the following aspects to jointly promote high-quality development of the sector: formulate general ESG information disclosure rules for Chinese mining enterprises, providing operational guidelines and regulatory frameworks; cultivate domestic ESG rating leaders by supporting select top-tier domestic ESG rating agencies to enhance the global influence of China’s ESG research; develop a China mining ESG index to highlight mining investment opportunities for capital markets; systematize green financial tools by cataloging existing financial instruments that support sustainable mining practices, thereby expanding financing channels for ESG governance enhancement; integrate excellent ESG practice cases of mining enterprises and strengthen social communication; establish ESG-focused academic programs to cultivate ESG talent for mining enterprises.