Análise da materialidade e da evolução do tema ESG em uma empresa do setor de mineração

Abstract

The incorporation of Environmental, Social, and Governance (ESG) practices in the mining sector has become increasingly relevant due to the environmental, social, and economic impacts associated with mining activities, as well as the growing demand for transparency in corporate reporting. In this context, this study aimed to analyze the materiality and evolution of Nexa Resources’ sustainability reporting based on an assessment of its annual sustainability reports published between 2019 and 2024. The research is characterized as a descriptive case study, adopting both qualitative and quantitative approaches and relying on the documentary analysis of corporate reports, complementary indicator databases, institutional policies, codes of conduct, public commitments, and other documents made available by the company. The analysis considered the evolution of the materiality matrix, selected indicators from the GRI 200, 300, and 400 series, and the application of benchmarking, PESTEL, and SWOT analysis tools to identify progress, limitations, challenges, and opportunities related to the ESG approach reported by the organization. The results indicate progress in the structuring and disclosure of the sustainability agenda, particularly regarding occupational health and safety, water resources, climate change, tailings dams, tailings, waste management, communities, governance, and compliance. Despite these advances, limitations were identified concerning indicator comparability, the fragmentation of information across the main report, the Databook, and its appendices, the lack of justification for certain reporting omissions, and the need for stronger connections among materiality, risks, targets, indicators, and results. Since the study is based on publicly available documents, it assesses the evolution of the company’s reported ESG approach and disclosures, without allowing for a comprehensive verification of the effectiveness of the practices implemented. It is concluded that the documents analyzed provide evidence of the maturation of the reported ESG agenda; however, opportunities remain to improve the transparency, traceability, and integration of the information disclosed.