Water is fundamental to life. It is a critical resource not only for all our members' operations but also for other industries, communities and the natural environment. It is therefore one of the most significant issues facing the mining and metals industry. With competition for water continuing to grow, water dependent industries are facing increasingly intense scrutiny, particularly when operating in water stressed areas.
Globally, there is a clear call for greater transparency and disclosure on water use and management. This is especially true for the mining and metals industry, considering its high water dependency and potential to impact water resources.
Already investors, regulators and civil society are seeking greater insights into mining companies' water management practices and risk exposure. And while many mining and metals companies are able to measure, monitor and report on water use, this reporting is often inconsistent.
ICMM recognises that the mining and metals industry needs to do more to meet these disclosure expectations, on aspects such as ensuring comparability among companies within the sector, data on wastewater discharge and recycling, and providing a more comprehensive picture of the risks and opportunities for the industry.
A Practical Guide to Consistent Water Reporting
ICMM has developed guidance and a minimum disclosure standard to support the industry in making consistent, transparent and material water reports; based on key elements of existing disclosure and accounting systems. Through quantifiable reporting of industry’s water footprint and disclosure of material risks and water management plans, mining and metals companies are better able to meet the information needs of different stakeholders, including company and external decision makers.
This guide is focussed on:
- Defining an appropriate set of standardised water reporting metrics for the mining and metals industry.
- Outlining the minimum disclosure standard for member companies which sets a transparent benchmark for the industry.
- Providing practical guidance around preparing corporate water summaries and meeting the minimum disclosure standard.
Leadership on water stewardship is required from all parts of society and our members are required to apply strong and transparent water governance, manage water in operations effectively and collaborate to achieve shared water benefits. This includes, among other elements, the public reporting of water performance using consistent industry metrics.
We encourage the adoption of this approach by the broader industry as a way to provide meaningful information that supports better water use, effective catchment management and to contribute to overall improved water security and sanitation for all.
The guide is also available in Spanish.