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Response to the European Bank for Reconstruction and Development (EBRD) 2024-2028 Mining Strategy

14 September 2023

In September, ICMM submitted its comments on the European Bank of Reconstruction and Development's (EBRD) draft mining sector strategy for 2024-2028.

ICMM strongly believes that the EBRD – alongside other Multilateral Development Banks – plays an important role in enabling the transition to a green economy and helping to increase ESG performance across the sector.

In our response, ICMM made a number of recommendations to the EBRD to take into consideration as they finalise their mining sector strategy, including:

  • That EBRD makes support for adoption of the Global Industry Standard on Tailings Management (GISTM) a priority.
  • That EBRD does not support stockpiling measures.
  • That EBRD ensures that its financing of mining activities is flexible and allows for innovative approaches – such as potential re-mining of tailings – to be supported.
  • That EBRD adopts a technology-neutral position, with all low-carbon energy sources (not just renewables) eligible for inclusion, noting that different technologies will be suitable, depending on specific contexts, regulatory environments, and resource efficiency considerations.
  • That EBRD enshrines a policy that encourages states to only award contracts or permits to develop mineral resources to companies committed to mining responsibly and with the capacity to do so – in line with good international practice.