NEWS

22.03.11
Transparency in mining sector is on the rise, reveal new figures by ICMM and GRI

Transparency in the mining and metals sector is on the rise, according to new figures released by the International Council on Mining and Metals (ICMM) and Global Reporting Initiative (GRI).

A growing number of ICMM member companies are disclosing social and environmental data, with 17 out of 18 reporting in line with GRI standards last year. This is revealed in the latest performance assessment published in ICMM’s 2010 Annual Review – Making progress through dialogue.

“We have seen a significant rise in the level and quality of sustainability reporting among ICMM members this year,” said ICMM President Anthony Hodge. “This is encouraging both in terms of the work being done by ICMM, but also as a reflection of a growing culture of transparency in the industry.”

Fifteen out of 18 companies obtained a G3 A + application level. This means they reported on all the indicators required in the GRI Mining and Metals Sector Supplement and sought independent third party assurance. In 2009, eight companies reported to this level.

The sector supplement was developed by GRI in partnership with ICMM and sets the standard for the entire industry. Today, mining accounts for the fifth highest number of GRI reports globally.

The 2010 data from GRI reveals a 12% increase (from 103 to 115) in reporting among mining and metals companies from the previous year. More than half (62) of these reports now follow the sector specific guidelines.

Maaike Fleur, Senior Manager Reporting Framework at GRI said: "The mining industry can have a big impact on our world, both on society and on the environment. ICMM's Annual Review 2010 shows that the sector is making great progress towards transparency.”

ICMM represents many of the largest companies in the sector. As part of their membership commitments, all companies are required to report in line with the GRI G3 Guidelines, the sector supplement as well as their implementation of ICMM’s ten sustainable development principles.

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GRI Mining and Metals Sector Supplement
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SUSTAINABLE DEVELOPMENT FRAMEWORK

Principle 01:

Implement and maintain ethical business practices and sound systems of corporate governance.

Principle 10:

Implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders.

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