EXECUTIVE INSIGHT
Q . WHAT DOES THE WORLD GOLD COUNCIL DO ?
» The WCG bridges the gap from mine to market , helping ensure the gold mining community is fully informed of and responsive to the shifting expectations of investors , consumers , policy makers and wider society .
We seek to facilitate the sector ’ s contributions to positive social and environmental outcomes by producing credible and transparent industry standards of responsible and sustainable business practice .
These initiatives are reinforced by the provision of research and data to allow gold ’ s diverse stakeholders to better understand the industry ’ s impacts and measure its progress .
Our members are the major gold mining companies who together produce around two-thirds of annual global gold production from the formal , corporate mining sector .
The WGC believes these members and other responsible gold mining companies can play a significant role in the socio-economic development of the countries and communities that host their operations , and we are committed to supporting that role .
Q . WHAT DOES RESPONSIBLE GOLD MINING LOOK LIKE ?
» This is best defined by the 51 principles that form our Responsible Gold Mining Principes . These were developed after an extensive period of consultation , to capture the material ESG risks and impacts of gold mining , and to allow
“ Gold miners often operate in regions with major social and economic challenges ”
companies to demonstrate – in ways that can be independently verified – what responsible and sustainable mining looks like in practice .
Q . IS IT POSSIBLE FOR GOLD MINING TO BE NET ZERO ?
» Yes , but it will require other shifts in the global economy , and particularly in energy systems and technologies .
That said , unlike other sectors and some other metal supply chains there is little in the process of gold production that is intrinsically ‘ hard to abate ’, and its potential pathway to decarbonisation is therefore quite clear .
Much of that relates to how the industry consumes or generates electricity , and its rate of progress will likely also reflect how supportive investors and governments are in encouraging the transition to clean energy sources .
But gold mining doesn ’ t require substantial infrastructure , and has long experience of developing mines in a fairly
miningdigital . com 15