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The business of sustainability
Prepared for:
The Frontier of Social MediaMining & Social Risk
The business of sustainability
6%
3%
6%
35%
3%
6%
6%
23%
35%
42%
No details available
Technical challenges
Revenue sharing
Commercial issues
Adverse weather
Health & Safety
Land Access
Permitting issues
Environmental concerns
Lack of social acceptance
Causes of delay*
Extreme weather
Less than a third of mining projects were delivered on schedule
6
Mining project delays (2008 – 2012)
*Does not sum to 100% due to multiple causes of delays
Non technical causes
30%
24%
46%
0% 50%
Delivered onschedule
No delayreported,project inprogress
Delayed
Other causes
Source: ERM Analysis
The business of sustainability
Risk Defined
3
$Social Business Risk
(SBR)Unacceptable
Acceptable
Business Social Risk(BSR)
High $
Low $
The business of sustainability
Social Risk Conceptual Model
4
Information
Media
Interest Group Politicians
Communication(SBR)
BSR
Mining Company
The business of sustainability
Social Media Network
5
The business of sustainability
Language is the basis for Understanding Risk
6
Topics, posts, hashtags, re-tweets, videos, likes, shares, public comments etc.
The business of sustainability
Risk Psychology Determines Project Acceptance
7
Risk Culture• Compatibility with
cultural • Compatibility with
visions of ideal community
• Compatibility with personal identify
Risk Characteristics• Probability of occurrence• Inequality of impacts• Probability of long-term
impacts• Controllability of impacts• Complexity/unknown
/uncertain impacts• Permanency of impacts• Level of impact
(catastrophic?)• Vulnerability• Exposure• Degree of personal harm• Cumulative effects
Risk Feelings• Stigma• Involuntary risk• Affect heuristic• Dread
Institutional Trust• Transparency• Competency• Reliability• Care• Honesty• Fairness
The business of sustainability
Risks are Not Linear
8
Trust
Risk 1 Acceptability
Risk 2 Acceptability
Risk 4 Acceptability
SBR
Risk 3 Acceptability
Project A
BSR
The business of sustainability
Social Risks are not Geographically Constrained
9
The business of sustainability
How is Social Media Evaluation Used?
10
• Develop and implement a targeted and context-informed strategy to minimize Business Social Risk
• Monitor changes in social media to determine if how effective the strategy is
• Integrate into existing public affairs programs
• Achieve Goal: Lower a business’ social risk due social opposition and concern
The business of sustainability 11
Thank You
Erik CarlsonSenior Project Manager(612) [email protected]
