The mining sector is critical to society and the low carbon transition. Good practice and leadership exists in mining but this practice needs to be sector wide and not limited to individual companies. Recent controversies such as the Brumadinho tailings dam disaster and the destruction of Juukan Gorge a 46,000 year old heritage site reflect some of the recent challenges faced by the industry. Other significant issues include the impacts of automation, artisanal mining and child labour, climate change, biodiversity loss and the role of mineral demand in sustaining and driving conflict. All these issues and others call for a considered and comprehensive response from the sector and key stakeholders.
The Global Investor Commission on Mining 2030 is a multi-stakeholder Commission, which recognises the mining industry’s role in the transition to a low carbon economy, and the need for the industry to manage systemic risks which threaten its social license to operate.
A series of Commission Working Groups will be established to identify key interventions that can drive systemic change and support the sector on the following Agenda items:
On each issue the initiative will:
> Identify best practice
> Identify existing global standards or where they need to be created
> Test whether existing ESG data disclosure is fit for purpose
> Identify additional disclosure requirements or where consolidation of disclosures may be required
> Identify necessary steps for industry as well as investor interventions aimed at: supporting existing standards, creating new global standards, introducing requirements for independent verification of site-level application of standards, and identifying and supporting any necessary public policy responses