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