ICMM publishes updated guidance to improve the quality and consistency of corporate water reporting
London, UK – The International Council on Mining and Metals (ICMM) today launched an updated Water Reporting: Good Practice Guide to improve the quality and consistency of corporate water reporting that will enhance stakeholders’ understanding of, and ability to use, water reports and associated data.
The guidance broadens ICMM’s minimum reporting commitments to include new metrics for disclosure, such as holistic reporting of how water is used to meet operational demands and how it is actively managed; and reporting of aggregated water metrics for all sites within a company as well as a separate aggregated total for all sites situated in water-stressed areas. It supports mining companies to disclose water data in a consistent way that allows for easier comparison of performance by interested stakeholders.
The Guide builds directly on external reporting guidance and definitions, including CEO Water Mandate, GRI, CDP Water and the MCA Water Accounting Framework. It captures practical experience from companies operating in diverse geographies, commodities and regulatory systems, and was developed in consultation with industry experts and investors, helping to make this resource a strong global tool.
Transparent reporting is important so that stakeholders such as investors, government, local communities and civil society have greater line of sight over mining companies' water management practices and related data.
“The external reporting landscape is evolving, and ICMM’s updated Water Reporting: Good practice guide will help companies strengthen their management of this precious and shared resource for the benefit of all users, while reducing corporate risk exposure.
Aligning frameworks and efforts on water is helpful to many stakeholders as we drive towards solving shared water challenges. ICMM’s Water Reporting: Good practice guide is a useful reference document in that regard – cross-linking key efforts and resources related to water reporting.
ICMM’s Water Reporting: Good Practice Guide helps to stimulate mining companies to manage water resources in an inclusive, socially equitable and environmentally-sound way, which is crucial for the sector to play a leading role in the transition to a sustainable society.
The ICMM Water Reporting: Good Practice Guide was updated to support alignment between members on the information and methodologies for accounting for the inflow, use, loss, storage and discharge of water at our operations. Having a standardised method of reporting provides a higher level of comparability and increased transparency for member companies.
Australia’s minerals industry is proud to support ICMM’s new Water Reporting: Good Practice Guide, which reinforces the industry’s commitment to water stewardship through responsible water use and transparent and consistent reporting.
ICMM members commit to apply strong and transparent corporate water governance, including to publicly report company water performance, material risks, opportunities and management response using consistent industry metrics and recognised approaches. This Guide builds on good practice principles from ICMM’s 2017 publication A Practical Guide to Consistent Water Reporting as well as practical member learnings from its implementation, and is publicly available on ICMM’s website for use by the wider industry.
-ENDS-
Note to editors
ICMM’s Water Reporting Guidance update can be viewed here.
About ICMM
ICMM is an international organisation dedicated to a safe, fair and sustainable mining and metals industry. Bringing together 28 mining and metals companies and over 35 regional and commodities associations, it strengthens environmental and social performance and serves as a catalyst for change, enhancing mining’s contribution to society. Every ICMM company member adheres to its Mining Principles which incorporates comprehensive environmental, social and governance requirements, robust site-level validation of Performance Expectations and credible assurance of corporate sustainability reports.
Media contact
Kira Scharwey
Communications Manager
ICMM
Kira.Scharwey@icmm.com
+44 (0)7483 092 315