EXECUTIVE INSIGHT
“Mining companies need to commit to clear policies of emissions reduction ”
And mining is undergoing a technological-revolution which will also need to accelerate , to ensure it becomes a cleaner , safer and smarter industry .
Q . HOW CAN GOLD SUPPLY CHAIN ESG ISSUES BE TACKLED ?
» The gold supply chain is global and diverse , and gold mining is only one segment of it , alongside gold ’ s many uses and downstream markets .
Mining is clearly an industry which has a physical impact on the environment . It is also energy intensive , so until renewable energy becomes the norm this means it will be carbon intensive . Mining companies need to commit to clear policies of emissions- and impactreduction . As a minimum they must commit to ‘ no net harm ’.
Gold miners also often operate in regions that already have major social and economic challenges , so they have to be sensitive to local community needs and socio-cultural conditions .
Responsible gold miners have come to recognise they have to demonstrate their ability to create and distribute value for their hosts and neighbours . In doing so they can generate opportunities and legacies that extend well beyond the mine and its operational life .
But the greatest environmental and social challenges globally are associated with the informal ( or ‘ artisanal ’) sector , and these challenges often extend well beyond gold-market issues or control . Instead , they reflect social problems associated with extreme poverty , political instability , lack of local capacity and , often , lack of the rule of law .
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