The asset owner-backed Global Investor Commission on Mining 2030 has published a report setting out foundations for action by investors seeking to help ensure the mining sector can meet growing demand for minerals in an environmentally and socially responsible way.
Adam Matthews, chair of the Commission, said the report “calls for a reset by investors of their relationship with the industry”.
The report highlights six “foundational priorities” for action by investors, including aligning investor expectations of companies with global and mining industry standards and encouraging regulation to reinforce investor expectations.
“As investors, we must take a strategic approach to reshaping our role with the mining sector,” said Matthews.
“We need to work with the sector, governments and key stakeholders to fashion a long-term relationship that drives greater benefits for local communities, that addresses and mitigates the negative social and environmental impacts associated with the industry and that leaves a positive legacy whilst meeting global demand responsibly.”
Formally launched in January last year, the investor-led Commission counts many major institutional investors as its supporters, such as Brunel Pension Partnership and the Swedish national pension funds.
“Many investors are underweighted in mining because of the industry’s tough legacy around human rights abuses, and a whole spectrum of environmental, social and governance issues,” said Fredric Nyström, head of sustainability and governance at AP3.
“Yet this is the one sector where we truly need sustainable development and impactful engagement if the climate transition is going to be successful. Investors shouldn’t shy away from the sector just because it’s challenging.”
The Commission will now begin consulting stakeholders on the development of practical implementation plans before publishing its final recommendations for investors in mid-2025.
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