MIIF’s approach to Corporate Social Responsibility (CSR) is guided by the Fund’s vision and commitment to stakeholders, employees and the Ghanaian public. The Fund believes that integrating social, environmental and ethical responsibilities into the governance of businesses ensures its long-term success, competitiveness and sustainability.
Six Strategic Pillars Form The Bedrock Of Csr At Miif:
1. Corporate Social Investments (CSI) – direct monetary investments that the Fund makes to improve societies and communities of interest, particularly in mining operating areas, for example, MIIF’s investment into salt cooperatives.
2. Corporate Partnerships – collaborative partnerships formed with other Government entities, mining companies, NGOs, private investment organizations, local community resources, and any other like-minded stakeholders. MIIF is currently collaborating with UMAT on sponsoring female engineers and supporting the jewelry industry.
3. Corporate Philanthropy – direct giving to alleviate critical, emergency, or urgent needs of various stakeholders. In 2022, MIIF donated critical goods and cash to support Appiatse following a devasting explosion that destroyed the community.
4. Compliance & Ethics – all activities that demonstrate MIIF’s commitment to legality and willingness to observe and adhere to values.
5. Environmental Stewardship – all environmental programs and activities that contribute in any way to reduce the Fund’s carbon footprint, improve energy efficiency and promote recycling.
6. Employee Volunteerism – designed to drive ownership of CSR within the company. In October 2022, MIIF employees volunteered at the office complex Breast Cancer awareness event.
Women represent an 8-17% of the global mining workforce, according to a McKinsey report, 2021. The report states further that in addition to the low labor force participation, the drop off from entry level to executive for females in mining is the most dramatic across all industries studied. As part of MIIF’s responsible investment strategy, the fund will support and encourage its investment partners in the mining industry to improve diversity across senior ranks through ethical and transparent hiring practices, as well as education and coaching on the importance of gender diversity at decision making levels.
Within MIIF’s leadership ranks, the fund is working to establish diversity targets for all executives and heads of departments to ensure that underrepresented groups are included across all levels of the fund’s decision making process.