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The Global Investor Commission on Mining 2030 is a collaborative investor-led initiative . It recognizes the mining industry ’ s important role in the transition to a low carbon economy , and considers key systemic issues faced by the mining sector that currently challenge , or could challenge , existing good practice and the sector ’ s social license to operate . The aim of the commission is to develop a global consensus across the finance and corporate world for a vision of a socially responsible mining sector by 2030 that meets the needs of society and the low carbon transition , and does not cause harm to people , communities or the environment . The global multi stakeholder commission commences its work at the end of September 2023 and will be operating for 18 months . There will be a particular focus on the relationship between extraction and conflict .
We are seeing practical evidence of operational change but that can always be improved upon
“ I think we can already identify what is good ,” Adam continues , “ and there are clear efforts underway to cement best practice standards . What we need to establish is the vision for socially responsible mining and how we , as investors and the wider finance sector , play a constructive role in enabling it , particularly recognizing that there ’ s enormous pressure for growth in extraction , but that there seems to be a disconnect between the way many of us value those companies operating in the sector . One crucial takeout from my recent visits to South Africa is recognizing the relationship between extraction and conflict . As investors , we need to engage with that reality much more , and have a concerted approach to ensuring that companies are positive actors in areas where there ’ s weaker governance or where there are challenging issues that could lead to conflict .”
From electric car batteries to renewable energy production , the transition to a net-zero global economy requires low-carbon solutions that are mineral-intensive . In short , the global extraction capacity will determine whether the goals of the Paris Agreement can be achieved . That said , this demand must be delivered sustainably and responsibly , and the mining industry as a whole sector , and despite good practice in many companies , currently faces several social and environmental issues such as climate change , biodiversity impacts and child labor . Addressing these issues requires systemic , long-term engagement from investors to work collaboratively with industry and other stakeholders to drive change , support best practice in companies , address issues through value chains and ensure accountability and transparency .
“ Historically , the wider investor community only really engaged with the sector through a negative prism as a result of disasters or if something went wrong . Consequently , I feel that we significantly undervalue best practice , and don ’ t make it easy for companies to walk that path . Equally challenging is how the sector is going to respond in relation to the low carbon transition and what the role of investors in that context will be . I don ’ t think many investors really understand the correlation between extraction and conflict and the value they can add by working with companies to ensure they are positive actors that strengthen local dynamics and bring a beneficial presence . In some instances , there are real imbalances of power when a mining company goes into an area . Even a company with the best intentions can completely destabilize local realities .
“ There are quite clearly lots of committed individuals and leaders , alongside good practice , within the mining sector . The
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