Committed to a challenging future ahead
Members’ Implementation and Reporting Obligation (MIRO)
The Members’ Implementation and Reporting Obligations (MIRO) aim to monitor how Bettercoal Regular Members are implementing their obligations and to disclose to stakeholders how Bettercoal is progressing in positively impacting the coal supply chain.
In 2018, the Bettercoal Board of Directors approved a new MIRO scorecard aimed at increasing the level of disclosure to stakeholders on how Members use the data from the Bettercoal Assessment in their due diligence processes and purchasing decisions.
The MIRO is on its third iteration and the definition of a Bettercoal Supplier has evolved.
In 2015-2017 this meant a Supplier who has conducted at minimum a self-assessment against the Bettercoal Code. Since 2018, a Supplier is a company which has signed the Letter of Commitment (LoC) and is in process of being assessed.
For the last three years, the proportion of Bettercoal Coal purchased has steadily increased from 58% of coal purchased in 2017 to 71% in 2019. At the same time, the total volume of coal purchased from Non-Bettercoal Suppliers through Direct Contracts has been decreasing in the last three years, as well as its proportion out of the total coal purchased, demonstrating our Members’commitment to purchasing from Bettercoal Suppliers.
In 2019 Bettercoal started publishing Suppliers’ Public Reports, which contain a summary of their Assessment Reports and an overview of the CIP findings. During the year 4 Public Reports were shared in Bettercoal’s website.
Suppliers’ progress on CIP
Bettercoal Suppliers are coal mining companies that have committed to improving their Environmental, Social, and Governance (ESG) performance by assessing their operations against the principles of the Bettercoal Code.
Each supplier undergoes an independent Assessment to see how closely they meet the requirements of our international best practice Code and commits to improving their operations in line with our custom built Continuous Improvement Plan for that supplier based on the findings of our Assessment.
Suppliers’ progress on CIP
Country Working Groups
In 2018 Bettercoal set up specific country working groups starting with Russia and Colombia given their global relevance in the coal industry and Bettercoal’s existing engagement with major coal suppliers there. The aim of these groups is to facilitate a more coordinated approach to engage with Suppliers and allow Bettercoal and its Members to further develop country and context knowledge to understand how supply chain risks are being addressed.
2019 Colombia Working Group main actions:
2019 Russia Working Group main actions:
Financial statement and organisational performance
Bettercoal is currently financed exclusively through the contributions of Members and Associate Members who pay an annual fee for the running of the Secretariat and the entirety of costs linked to the Bettercoal Assessments.