Mining is a vital industry that provides the resources society needs to thrive and progress. However, the future of mining is facing significant challenges, including the need for secure supply chains for decarbonisation efforts, systemic issues such as waste and workforce automation, and social and environmental concerns. These issues present a material risk to the sector and the implementation of the Paris Climate Agreement.
Investors have a responsibility to address these ethical, environmental, and social challenges facing the mining industry. The Mining 2030 Investor Agenda, which is being launched by institutional investors, will work over the coming year through a multi-stakeholder Global Commission to identify responses to each of the issues that have been identified.
This new approach to investor engagement with the industry focuses on working with the whole sector to drive real world change by accepting no less than best practice on each environmental and social issue. The lessons from previous engagements, such as the tailings engagement, have shown that investors must collaborate to understand systemic issues, align around best practice standards, and require site-level audits to ensure change is happening on the ground.
Additionally, the sector-wide engagement should be supported by banks, insurers, and supply chains to demand that companies they do business with uphold these standards. The Mining 2030 Investor Agenda will be the focus of the Global Commission throughout 2023, and it is essential that investors play a critical role in driving change within the mining industry.
