Articles

Beyond transparency – ICMM launches latest newsletter at EITI Global Conference

Casilda Malagon — Wed, 22 May 2013 12:27:47 +0000

ICMM launched the latest edition of its Good Practice newsletter on the first day of Extractive Industries Transparency Initiative (EITI) Global Conference in Sydney, Australia. The theme of the newsletter is Beyond transparency and the issue is focused on the latest developments and progress of EITI.

David Diamond of Allianz Global Investors and EITI board member opens the newsletter with an investor’s perspective on how EITI is adding value. We also feature an individual country viewpoint as former Minister of Lands, Mines and Energy - Dr Roosevelt Jayjay - discusses how Liberia is benefitting from its commitment to EITI. Finally, EITI international board representatives Jim Miller, Debra Valentine and Edward Bickham offer an industry perspective on the mining sector’s contribution to the evolution of EITI.

Each of these articles offers an honest appraisal of how far the EITI approach to transparency has gone in making a difference to some of the world’s poorest people. This is reinforced by the thoughts of Chair of the EITI Board - Clare Short - in the 60 second profile.

The newsletter also features a special report on progress to date in a number of EITI signatory countries. These include Mongolia where an environmental monitoring program is designed to support traditional lifestyles, Madagascar where participation has increased significantly and Liberia which is praised for its implementation of EITI after 14 years of civil war.

In his foreword, ICMM President Anthony Hodge reinforces ICMM and its members’ commitment to EITI. "ICMM has been involved with EITI from the beginning. Our members are fully committed to the ideals that drive EITI and we welcome the opportunity to play a part in this conference. As EITI demonstrates, mining revenues can act as a catalyst for positive change among peoples who have traditionally been extremely disadvantaged. We are very proud of playing our part in seeing that this be done."

To provide feedback or to request hard copies please contact info@icmm.com.

ICMM contributes to conflict prevention panel at Mining for Development conference

Holly Bassett — Tue, 21 May 2013 00:00:00 +0000

On 21 May, ICMM took part in the Mining for Development Conference in Sydney, Australia. The conference brought together over 600 delegates from 69 countries across the world to build links and share knowledge between government, civil society, academia and companies in the mining for development field.

ICMM Deputy President and Senior Program Director, Aidan Davy, participated in a session on the second day of the conference titled Preventing conflict through positive stakeholder relationships. The session looked at the key strategies for stakeholder collaboration in order to achieve effective conflict prevention. Chaired by Saleem Ali (Centre for Social Responsibility in Mining), Aidan was joined on the panel by Dame Meg Taylor (Compliance Advisor/Ombudsman for IFC/MIGA), Doris Puiahi (Live and Learn, Solomon Islands) and Alex Benkenstein (South African Institute of International Affairs).

While conflict prevention is an important aspiration, it is equally important that companies, communities and governments accept that a degree of conflict is inevitable, said Aidan Davy at the session. It is also imperative they plan to ensure that it becomes a focus for constructive rather than destructive interactions.

The speakers discussed other conflict prevention strategies including implementing effective grievance mechanisms and understanding the causal and contextual risk factors that might lead to company-community conflicts. Speakers ended the session by stressing that countries with the weakest institutions are most vulnerable to instability and violence. Companies, governments and the development assistance community all have a critical role to play in protecting against the risks of company-community conflicts in the longer-term.

ICMM welcomes the Instituto de Seguridad Minera as its latest member association

Holly Bassett — Tue, 21 May 2013 00:00:00 +0000

ICMM welcomes the Instituto de Seguridad Minera (ISEM) as its latest member association. ISEM’s main objective is to improve the health and safety standards in Peruvian mines through training and dissemination of best practices in the mining industry.

ISEM is a private non-profit organization formed by mining and industrial companies and independent professionals in 1998 under the sponsorship of the National Society of Mining, Petroleum and Energy, the Ministry of Energy and Mines and Institute of Mining Engineers of Peru.

Through focussing on just health and safety and promotion of good practice in the sector ISEM is well-aligned with ICMM’s values. Its vision is to "promote and support the management of occupational health and safety in the Peruvian mining industry through continuous training, dissemination of best practices and involve all stakeholders."

ICMM chairs session on effects of mining on the local environment at SETAC Europe Annual Meeting

Holly Bassett — Fri, 17 May 2013 16:47:17 +0000

On 13 May, ICMM’s Ben Davies joined Bill Adams (Rio Tinto) and Hugh Potter (Environment Agency, UK) to chair a session on the effects of mining on the local environment.

This was the first time that topics relating to metals chemistry, exposure and effects were drawn together in a session focussing on mining at the Society of Toxicology and Chemistry (SETAC) Europe 23^rd Annual Meeting in Glasgow, Scotland.

Throughout the day, presentations from academics, regulators and researchers covered:

ecological impacts of mining releases on aquatic and/or terrestrial ecosystems
methods of assessing and regulating risk
case studies of ecological impacts at abandoned mines
novel monitoring/biomonitoring methods as a means to assessing metal bioavailability and potential impact at mine sites.

To conclude the session, the chairs noted that that mining impacts the local environment in numerous ways. The day also brought attention to the need for management strategies that are tailored to local geology and ecology.

ICMM member companies strengthen their commitments to Indigenous Peoples

Casilda Malagon — Fri, 17 May 2013 09:25:06 +0000

Yesterday in Barcelona, Spain, the ICMM Council of CEOs approved an Indigenous Peoples and Mining Position Statement. This strengthens member companies’ commitment to uphold fundamental human rights and respect cultures, customs and values in dealings with employees and others. As Mark Cutifani, CEO of Anglo American and chair of the ICMM Council of CEOs, stated, "ICMM members are taking a collective leadership stance to ensure that we build constructive and mutually-beneficial relationships between mining companies and Indigenous Peoples".

The 2013 position statement replaces an earlier position statement from 2008. It articulates a progressive set of commitments that applies to all ICMM member companies. The most significant change is the adoption of a commitment to work to obtain the consent of Indigenous Peoples for new projects (and changes to existing projects) that are located on lands traditionally owned by or under customary use of Indigenous Peoples and are likely to have significant adverse impacts on Indigenous Peoples.

The position statement outlines ICMM’s view of Free, Prior and Informed Consent (FPIC) as a process based on good faith negotiation through which Indigenous Peoples can give or withhold their consent to a project. Such processes should strive to be consistent with Indigenous Peoples’ traditional decision-making processes while respecting internationally recognized human rights. The consent provision builds upon a number of supporting commitments that apply to most interactions between ICMM members and local indigenous communities. These supporting commitments address engagement with Indigenous Peoples, understanding their rights and interests, building cross-cultural understanding, agreeing appropriate processes for consultation and engagement, and participation in decision making.

A number of related commitments address how ICMM members should engage where government is responsible for managing Indigenous Peoples' interests in a way that limits companies’ involvement, and how to move forward where differences of opinion arise between Indigenous communities and companies.

The statement recognizes the right of states to make decisions on development of resources and that in most countries, neither Indigenous Peoples nor other groups have a right to veto projects. The position statement acknowledges the reality that where consent cannot be reached, a host government may decide to proceed with a project in balancing the rights and interests of Indigenous Peoples with the wider population. In these circumstances it will be up to ICMM member companies to determine whether they remain involved with the project.

The commitments in the position statement come into effect from May 2015. By that time, members should ensure that their policy frameworks relating to Indigenous Peoples are aligned with the position statement. The commitments will not apply to projects that have started the approvals and permitting processes at the time of the adoption of the position statement.

Mining makes positive contribution to sustainable development in Brazil, report reveals

Holly Bassett — Thu, 16 May 2013 09:35:03 +0000

ICMM together with the Brazilian Mining Association (IBRAM) have released a new report: The mining sector in Brazil: building institutions for sustainable development. Mining creates many impacts in host countries: on foreign direct investment, export earnings, government revenues, household and national incomes (Gross Domestic Product/GDP) and employment. But in low- and middle-income countries especially, two questions always arise when new mines are in prospect:

Why have some countries but not others leveraged their natural resource endowments to create a better life for their people?
What specific policies and practices should the mining industry, governments, local communities and development agencies adopt to promote broader economic and social development?

ICMM’s Mining for Partnerships for Development (MPD) work has investigated these questions through a series of country case studies, of which Brazil is the sixth. The study assesses the economic and social impacts of mining in Brazil at both national and local level using Vale’s operations in Southeast Pará as a case study. Representatives from federal and state government agencies, companies, civil society organizations, academia and labour groups came together to discuss draft findings at a one-day workshop on 29 February 2012 in Brasilia.

The report presents the study’s key findings, including those relating to the overall quantitative macro-economic mining activity in Brazil. It details the investment surge in Brazil, including large investments into new mining projects attracting foreign direct investment (FDI) in excess of US$10 billion per annum in recent years. It also examines the complex economic, social and governance challenges faced by remote and often poor regions (such as Southeast Pará) hosting large-scale mining operations. The report finds that Vale’s, Alcoa’s and Hydro’s innovative approaches to partnerships at a local level are acting as a catalyst for broader based, sustainable social and economic development.

The analysis of Brazil summarized in this report uses the Mining: Partnerships for Development Toolkit methodology, which is applied by ICMM in conjunction with Oxford Policy Management. It follows earlier case studies on Peru, Chile, Ghana, Tanzania and Lao PDR.

Download a copy of the report in English or Portuguese.

Download the summary of this report (also available in Portuguese and Chinese)

ICMM launches series of climate change reports

Laura Pocknell — Wed, 15 May 2013 01:11:15 +0000

ICMM has just launched a series of reports on climate change intended to demonstrate that our members in the mining and metals industry are ready and able to play a constructive and pragmatic role in climate change policy discussions. Three areas covered include:

responding to the risks associated with the physical impacts of climate change
examining options for revenue recycling out of carbon pricing policies
impacts of carbon prices on the competitiveness of commodities in four regions.

The cost of carbon pricing: competitiveness implications for the mining and metals industry assesses how best to develop carbon pricing policies that work towards transitioning to a low carbon economy without compromising the ability of commodity based industries to compete internationally. ICMM recognizes that it is the right of governments to set their own specific targets, policies and measures to manage their emissions. That said, this report demonstrates that careful consideration in both design and implementation phases is required for such policies and measures to be both environmentally and economically effective.

Options in recycling revenues generated through carbon pricing examines how 16 regulatory authorities are managing their carbon revenues towards addressing climate change. As far as we are aware, this is the most comprehensive review of current revenue recycling activities that has been published. We hope this analysis will help to inform the public policy debate around this critical issue.

Adapting to a changing climate: implications for the mining and metals industry explains why it is important for the mining and metals sector to understand the impacts from a changing climate and to develop strategies to adapt. It looks at relevant climate impacts and how mining and metals companies can evaluate risks and opportunities associated with those impacts. The report also examines the available options for adapting to climate change impacts.

Ultimately, our aim is to ensure that we strengthen our contribution to sustainable development by playing our part in addressing the climate change challenge, while at the same time securing the continued competitiveness of the mining and metals industry.

ICMM launches new publication on responsible reporting of mineral assets

Holly Bassett — Tue, 14 May 2013 00:00:00 +0000

ICMM has released Responsible reporting of mineral assets describing the work of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO).

CRIRSCO is a volunteer-run international organization aimed at establishing international standards for the reporting of mineral resource and reserve estimates and has worked with ICMM in a strategic alliance since 2007.

CRIRSCO’s objectives are to:

promote uniformity, excellence and continuous improvement in national and international reporting standards through consultation and co-operation
represent the international minerals industry on resource and reserve reporting issues, including discussions with other international organizations, attending international meetings and providing written submissions
encourage the continued development of international exchange of competent/qualified persons through nationally-based recognized professional organizations.

Encouraging leading practice in resource estimation is consistent with ICMM’s sustainable development goals and brings added assurance that a nation’s mineral wealth is being developed in a responsible manner.

Most developed countries use almost identical resource and reserve definitions as defined in the CRIRSCO reporting template, and new codes and standards are being based on the template. This unified approach has provided the mining industry, regulators and investors with a common framework to report and interpret mineral resource and mineral reserve estimates, thereby facilitating funding to the mining industry through improved investor understanding and confidence.

Download a copy of Responsible reporting of mineral assets

Collaboration and leadership are key for improving health and safety performance

Casilda Malagon — Tue, 30 Apr 2013 15:33:18 +0000

ICMM has launched the report of the Health and Safety Conference held in Santiago, Chile, in November 2012. The conference brought together 19 companies, over 300 delegates and five chief executives to share lessons and learn from each other. Based on its proceedings, and enriched by in-depth interviews and post-conference feedback, the report highlights the importance of collaboration, culture and leadership.

A common message, heard throughout the 19 sessions that took place, was that to successfully ensure the well-being of employees, contractors, their families and their communities, companies must "put people first". It is people’s well-being that drives efforts to improve health and safety performance in ICMM, whose members have committed to seek continual improvement.

Other themes that emerged from the conference discussions were that:

health and safety paradigms are shifting
leadership is the primary enabler of good health and safety performance
there is a growing willingness for collaboration and learning through sharing experience
integrated well-being is both the concept guiding the development of processes, and the outcome of sound health and safety management.

All presentations, posters and remarks from CEOs are available at: http://www.icmm.com/health-and-safety-conference-2012

ICMM launches report on the cost of carbon pricing

Laura Pocknell — Fri, 19 Apr 2013 15:19:41 +0000

ICMM has launched the second in a series of three climate change reports. The cost of carbon pricing: competitiveness implications for the mining and metals industry assesses how best to develop carbon pricing policies that work towards transitioning to a low carbon economy without compromising the ability of national industries to compete internationally.

We recognize that it is the right of governments to set their own specific targets, policies and measures to manage their emissions. That said, this report demonstrates that careful consideration in both design and implementation phases is required for such policies and measures to be both environmentally and economically effective.

This report includes a survey of the current carbon pricing policies in select regions, new research on the quantitative impacts of climate change on four commodities in different carbon pricing regions and also provides an assessment of these current policies against ICMM’s Principles for climate change policy design.

ICMM releases Annual Review 2012: Building Trust

Holly Bassett — Tue, 14 May 2013 10:58:53 +0000

The International Council on Mining and Metals (ICMM) has released its 2012 Annual Review - Building Trust.

"ICMM's Council of CEOs recognizes the value of strong trusting relationships among the industry and its key stakeholders," said ICMM chair, Marius Kloppers (CEO, BHP Billiton). "It is why we as a group of CEOs, ordinarily in competition with each other, come together at ICMM to collaborate in strengthening environmental and social performance and through that, our contribution to sustainable development."

For the fourth time in an ICMM annual review, member progress was assessed against their reporting and assurance commitments. Twenty out of the 22 member companies obtained a G3 A+ application level compared to 17 in 2011 and 15 in 2010. This means 20 companies reported on all the indicators required in the Global Reporting Initiative (GRI) Mining and Metals Sector Supplement and sought independent third party assurance of their reports.

ICMM's Annual Review 2012 highlights achievements made throughout the year including:

setting out ICMM's strategic direction for the next three years with its new Strategy and Action Plan
launching an important new series of publications that hope to inform and prompt dialogue and discussion about mining's contribution to sustainable development
holding the successful ICMM Health and Safety Conference in Santiago, Chile where the "inevitability" of injuries and fatalities was put aside in favour of an unequivocal commitment to fight fatalities.

"ICMM has much to be proud of", said Anthony Hodge, ICMM President. "Yet we know that the mining and metals industry continues to face a substantial trust deficit. Trust must be founded on more than words - it needs concrete actions that demonstrate consistent delivery of commitments and requires efforts to understand the perspectives of others and solution building that respects the values of all interested parties."

Download a copy of the Annual Review

ICMM hosts second CEO panel at PDAC International Convention

Laura Pocknell — Thu, 07 Mar 2013 10:43:35 +0000

ICMM hosted its second CEO session at the 2013 Prospectors and Developers Association of Canada (PDAC) International Convention, Trade Show & Investors Exchange on Tuesday 5 March. The topic of the panel was Mining’s Contribution to Sustainable Development based on ICMM’s recently published series of publications of that name.

Five CEOs – Jamie Sokalsky (Barrick), Jochen Tilk (Inmet), Chuck Jeannes (Goldcorp), Joe Conway (Primero Mining) and Andrew Cheatle (Unigold) – addressed an audience of over 300 delegates in a session moderated by ICMM President Anthony Hodge. Ross Gallinger, PDAC Executive Director, provided opening remarks at the session.

The CEOs discussed the benefits, costs, risks and responsibilities relating to mining and metals in today’s world.

Jamie Sokalsky said, “As an industry, we all recognize the benefits of mining and we communicate those regularly to governments and communities. However, many of the risks and costs associated with our business are less understood and I think we need to do more to educate our stakeholders on these issues and how we are managing them.”

Jochen Tilk added, “We need to know our stakeholders, but more importantly, listen to and understand their perspectives so we can effectively communicate the contribution our companies can make.”

All the CEOs acknowledged that the industry still needs to improve. Joe Conway said, “Where the industry gets it wrong is when we do not take the time to understand the values of host communities.”

Andrew Cheatle agreed, saying “The perception of mining starts from the moment the first boot hits the ground. You have to get it right from the very beginning.”

Chuck Jeannes told the audience that it is not just the mining companies who are responding to this challenge. There is now greater recognition from investors that companies need to incorporate ESG (environmental and social governance) performance into their operational processes and expect senior leadership to be held accountable for performance on those metrics. He said, “For the most part in the past, investors have just wanted to know you are managing these issues. More and more, they are taking a greater interest in how we do that.”

In the second half of the session, the CEOs addressed questions from the audience on topics ranging from the industry’s sometimes poor track record in environmental performance to the importance of understanding and respecting community wishes.

The question and answer session was interrupted for a short time by a small group of protestors. In concluding the session, Anthony Hodge said, “The interruption to the meeting shows the strength of feeling that mining activities can spark – this underlines the importance of building trust and demonstrating the industry’s commitment to improving its contribution to sustainable development.”

ICMM and World Bank sign memorandum of understanding

Laura Pocknell — Wed, 06 Mar 2013 13:40:54 +0000

ICMM's President, Anthony Hodge, and Rachel Kyte, Vice President of Sustainable Development at the World Bank, have signed the first memorandum of understanding (MOU) between their organizations.

The document outlines possible avenues of collaboration for continuous improvement of the mining and metals sector in areas related to sustainable development.

The signing of the MOU signals the strengthening of a long-term relationship. Since its inception, ICMM has partnered with the World Bank on several projects including the development of the Community Development Toolkit and the Resource Endowment initiative.

ICMM launches Mining: Partnerships for Development Toolkit in Spanish

Laura Pocknell — Fri, 01 Mar 2013 11:00:39 +0000

ICMM’s Mining: Partnerships for Development Toolkit is now available in Spanish.

The Mining: Partnerships for Development project focuses on enhancing mining’s economic and social contribution. It supports the formal commitment made by ICMM member companies to actively support or help foster multi-stakeholder development-focused partnerships in countries where they are active.

Mining is economically critical for millions of the world’s poorest people with some 50 countries being significantly dependent on mining. Yet mineral wealth does not always mean positive economic growth – the so-called “resource curse” theory.

In 2004, ICMM began the Resource Endowment initiative in collaboration with UNCTAD and the World Bank Group. It developed a substantial body of research on why some countries have avoided the “resource curse” and developed practical actions for companies, governments and civil society.

The Resource Endowment initiative showed that the “resource curse” is not inevitable. Mining investments can drive economic growth and reduce poverty nationally and locally. However, companies alone cannot unlock the development benefits from mining – governance is key and multi-stakeholder partnerships can help fill capacity gaps.

The findings were based on the application of ICMM’s Resource Endowment Toolkit in four countries – Chile, Ghana, Peru and Tanzania. The toolkit was then revised, extended and re-published as the Mining: Partnerships for Development Toolkit.

The new version of the toolkit was launched in 2011 and responds to a clear need in different parts of the world for a more systematic and objective way to quantify and agree ways to enhance mining’s economic and social contribution.

It is currently being applied in a number of countries and can be used by mine managers and those interested in promoting economic and social development (host governments, development agencies and development-focused NGOs).

For more information on how to participate in this work, visit www.icmm.com/mining-partnerships-for-development or email us at info@icmm.com.

Download the Mining: Partnerships for Development Toolkit in Spanish.

New look for icmm.com

Laura Pocknell — Thu, 28 Feb 2013 17:05:26 +0000

ICMM has launched its refreshed website, with a new design and improved navigation. The improvements are based on a usability study conducted in 2012 and feedback from ICMM staff and members.

The new website includes an improved navigation menu and search function where users can search for content by region, topic, work program or year. The homepage also links directly to ICMM’s social media platforms – Twitter and Linkedin.

We hope you find the changes to our website improvements and if you have any feedback please send an email to info@icmm.com.

ICMM presents updated Community Development Toolkit in French and Spanish

Casilda Malagon — Thu, 28 Feb 2013 16:32:50 +0000

ICMM has launched its updated Community Development Toolkit in French and Spanish. The toolkit includes 20 tools aimed at fostering constructive relationships among communities, companies and governments. It features a number of new tools and draws upon work on sustainable development that has emerged since the 2005 version was published with the World Bank.

“Community development activities present both challenges and opportunities,” said Anthony Hodge, ICMM President. “Establishing good local relationships at the earliest stage possible can increase the chance of maximizing these opportunities.”

The Community Development Toolkit aims to improve opportunities for the sustainable development of communities around mining and metals operations and regions during all phases of the mining cycle.

Download the Community Development Toolkit.

Mark Cutifani and international speakers put spotlight on sustainable development

Casilda Malagon — Thu, 28 Feb 2013 16:32:19 +0000

ICMM, in partnership with African Mining Indaba, hosted the sustainable development session for the third year running at the biggest mining conference in Africa. Mark Cutifani, AngloGold Ashanti CEO, opened proceedings with his keynote address on mining's contribution to sustainable development.

Cutifani examined the importance of mining to the global economy, whilst acknowledging the challenge of ensuring its contribution to development is maximized. He also called for all stakeholders – including industry and governments – to “acknowledge their differences and work together to change South Africa for good”.

This was followed by an interactive panel discussion on mining’s economic contribution to sustainable development featuring Joyce Aryee (Communications and Management Consultant), Roger Baxter (Chamber of Mines of South Africa), Rafael Benke (Vale), Philip Daniel (International Monetary Fund) and May Hermanus (University of the Witwatersrand).

ICMM’s second panel focused on the global challenge of revenue transparency and anti-corruption and included Roosevelt Jayjay (Extractive Industries Transparency Initiative), Emmanuel Kuyole (Revenue Watch Institute), Xolani Mkhwanazi (BHP Billiton) and Greg Thompson (Transparency International, Australia).

The discussions explored issues such as the need for improvement in skills development, infrastructure and social investment in local communities and the progression from transparency into accountability. While recognizing the progress that has been made, the panelists called for multi-stakeholder collaboration to tackle the serious challenges the industry still faces.

For those who were not able to attend, ICMM will post the video of the sessions, as well as the written remarks from a number of the speakers, on the ICMM website in the near future.

ICMM, IPIECA and Equator Principles Association launch cross sector biodiversity initiative

Casilda Malagon — Thu, 28 Feb 2013 16:34:04 +0000

ICMM, IPIECA (the global oil and gas industry association for environmental and social issues) and the Equator Principles Association have launched a cross-sector biodiversity initiative (CSBI) in Washington, D.C.

The initiative has been created to develop and share good practices and practical tools to apply the new International Finance Corporation's (IFC) performance standard 6 on biodiversity conservation. IFC's performance standards have become globally recognized as a benchmark for environmental and social risk management in the private sector.

CSBI aims to share experiences and to create a culture of learning and continuous improvement. The collaboration is being trialled by ICMM, IPIECA and the Equator Principles Association for one year with a view to longer term collaboration.

Although the CSBI is an industry forum, the group will engage with non-industry groups who have interest and experience in offsets and the biodiversity mitigation hierarchy included in IFC performance standard 6.

CSBI is looking to seek input on overall strategic directions for the initiative and welcomes interested parties to get in contact with ICMM (info@icmm.com) or IPIECA for further information.

ICMM hosts investor panel at African Mining Indaba

Casilda Malagon — Tue, 05 Mar 2013 12:02:38 +0000

ICMM held its first investor panel Sustainability and Investors: a critical relationship at African Mining Indaba 2013. Moderated by Aidan Davy, ICMM Deputy President, the panel brought together four prominent South African experts to discuss the increasing relevance of environmental, social and governance (ESG) factors in the investment industry and how they link to a company’s long-term profitability.

Jon Duncan (Old Mutual Investment Group), Abdul Davids (Kagiso Asset Management), Carron Howard (Cadiz Asset Management) and Malcolm Gray (Investec Asset Management) discussed a variety of issues including integrating ESG considerations into investment-related decisions and the need for companies to provide more accurate and comparable ESG data to enhance investment research.

“It has become clear that the interests of long-term investors and ICMM are increasingly aligned,” said Aidan Davy after the panel. “Both parties care deeply about how mining companies manage sustainable development issues. As a consequence, investors expect companies to have policies, systems and controls in place to manage these issues and report on performance. These are also fundamental expectations of ICMM member companies.”

Recent research carried out by ICMM, based on engagement with over 30 responsible investment firms, shows that investors have more confidence in companies that have effective risk management systems in place and provide high quality disclosures on their social and environmental performance.

For more information on ICMM’s work on engaging with the investment community, visit ICMM’s website.

This is the third year that ICMM partners with Mining Indaba to develop the conference’s sustainable development agenda and the first time ICMM holds a panel with investors during the main program.

ICMM and IUCN release report on biodiversity offsets

Holly Bassett — Mon, 18 Mar 2013 12:08:29 +0000

ICMM and the International Union for Conservation of Nature (IUCN) have released a report on current trends and key issues regarding biodiversity offsets.

Biodiversity offsets are ways to counterbalance, compensate or make up for the disturbance of land, ecosystems and habitat which occurs in mining and processing operations.

The Biodiversity Consultancy was commissioned to write Independent report on biodiversity offsets for ICMM and IUCN. It is the latest product to be released as part of the five-year Memorandum of Understanding between the two organizations.

“IUCN welcomes this report which also highlights that the effectiveness of biodiversity, in practice, is dependent on the importance of an enabling policy environment and good governance across the sectors,” said Gerard Bos, Head of the Global Business and Biodiversity Program, IUCN.

In 2005, ICMM released Biodiversity Offsets – A Briefing for the Mining Industry. This latest report reflects the evolution of the offsets agenda since then.

The practical issues of implementing biodiversity offsets are explored along with other factors that can cause offsets to fail. The report also makes the business case for using offsets and explains how companies can use them to reduce risk.

ICMM will continue to provide opportunities for its members and others to share good practice on the practical implementation of biodiversity offsets.

Independent report on biodiversity offsets is now available to download.