Editor’s Note
The mining industry is seeking to unify its approach to ESG (Environmental, Social, and Governance) standards. A coalition of nearly 100 companies has launched a 60-day public consultation on a new “Consolidated Mining Standard Initiative,” aiming to simplify and harmonize existing frameworks for the sector.
Mining associations have launched a 60-day public consultation on a program aimed at providing a consolidated standard for the sector’s environmental, social, and governance (ESG) issues. The members or participants of these associations include nearly 100 companies.
Companies worldwide have faced increasing pressure from shareholders and consumers to comply with stricter ESG standards. Other groups setting environmental and social standards include the Initiative for Responsible Mining Assurance.
The program is led, among others, by Copper Mark, a global voluntary program created in 2019 in line with the United Nations Sustainable Development Goals to promote responsible practices in the production chains of copper, molybdenum, nickel, and zinc.
It also includes the Mining Association of Canada and the International Council on Mining and Metals, whose members are major metals and mining groups, and the World Gold Council, an industry body that brings together the world’s gold mining companies.
Once finalized, the standard is expected to be used by the members of these three associations and Copper Mark participants for the responsible production, sourcing, and recycling of metals.
According to the statement, Copper Mark will become an independent entity overseeing the maintenance of the program, subject to the first consultation, which will run until December 16, and another shorter consultation in 2025.
Source: Mining.com
