World’s top mining companies committed to climate change solutions – ICMM

Twenty seven of the world’s leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM).

The ICMM is an international organisation dedicated to a safe, fair and sustainable mining and metals industry and through the organisation’s climate change position statement, all members commit themselves to reducing emissions and supporting a low carbon future.

“Our company members understand the urgent need for a global response to the threat of climate change and our mining principles, alongside our position statement on climate change, clearly articulate their commitments,” ICMM CEO Tom Butler stated in a written statement.

Among the top mining company members are South Africa’s African Rainbow Minerals, Anglo American, AngloGold Ashanti, Barrick, Glencore, Gold Fields, Sibanye-Stillwater, BHP, Rio Tinto, Newmont, Vale, Newcrest and South32 and all members are required to implement the ICMM’s mining principles as a condition of membership

ICMM’s mining principles define good practice environmental, social and governance requirements for the mining and metals industry and the organisation’s four principles relevant to climate change are:

• implement effective risk-management strategies and systems based on sound science and which account for stakeholder perceptions of risks;
• pursue continual improvement in environmental performance issues, such as water stewardship, energy use and climate change;
• facilitate and support the knowledge-base and systems for responsible design, use, re-use, recycling and disposal of products containing metals and minerals; and
• proactively engage key stakeholders on sustainable development challenges and opportunities in an open and transparent manner. Effectively report and independently verify progress and performance.

ICMM’s climate change position statement also commits company members to:

• implement governance and disclosure processes to ensure that climate change risks and opportunities are considered in business decision-making;
• engage with host communities on shared climate change risks and opportunities, and help communities understand how they can better adapt to the physical impacts of climate change;
• disclose Scope 1 and 2 greenhouse gas emissions on an annual basis and set emissions reduction targets at a corporate level;
• support efforts to mitigate greenhouse gas emissions, in collaboration with peers, by promoting innovation, developing and deploying low emissions technology, and implementing projects that improve energy efficiency and incorporate renewable energy supply in the energy mix;
• support predictable long-term carbon pricing and other market mechanisms with the potential to incentivise innovation and deliver the least cost pathways to emissions reductions; and
• Engage with external parties to determine a preferred approach to reporting Scope 3 emissions.

“We serve as a catalyst for change; enhancing mining’s contribution to society,” the ICMM, states on its website.

It adds that the mining and metals sector has extraordinary potential to contribute to social and economic development, especially where good policy and governance frameworks are in place.

“It can transform the lives of employees, their families and communities for the better. Realizing mining’s full potential contribution to sustainable economic and social progress requires collaborative action between government, companies, and civil society,” the website states

Source: mining weekly