Biodiversity, land and protected areas
Reversing biodiversity loss is essential if we are to reach net-zero by 2050 or sooner, and the issue is fast shooting up the global policy agenda. The Intergovernmental Panel on Climate Change (IPCC) renewed its focus on nature preservation last year, while world leaders at the COP26 and COP15 summits pledged to reverse deforestation by 2030 and support conservation.
Mining is a significant driver of deforestation, ecosystem degradation and biodiversity loss. At the same time, mining companies are often both dependent on and exposed to nature. For example, they usually rely on a secure water supply, and might have operations and safe waste management processes that are vulnerable to heavy rainfall.
It’s crucial that these impacts and dependencies on nature are managed sustainably and responsibly as the sector expands. Yet there is a critical lack of data on mining land-use and associated impacts on nature. Recent findings from MSCI indicate that 20% of mines owned by MSCI ACWI Investable Market Index constituents are located in “biodiversity hotspots” – areas with rich but threatened ecosystems.
Where sector action is needed
The Commission will issue a series of questions that it will consult on to aid its deliberations.