AUM in Action

Investor Initiative Targets Laggard Mining Firms

A US$25 trillion investor initiative has named more than 100 small mining companies that have so far failed to commit to an industry standard to manage tailings risk. The Global Industry Standard on Tailings Management was co-created by the International Council on Mining and Metal, the United Nations Environment Programme and the Principles for Responsible Investment. The latter was represented by the Church of England Pensions Board (CoEPB) and Swedish Public Pension Funds, with CoEPB being part of the Investor Mining and Tailings Safety Initiative (IMTSI) alongside Allianz Investment Management. A total of 77 companies, representing over half of the market capitalisation of publicly listed mining firms, have already committed to implementing the industry standard. The CoEPB has published the names of 126 smaller mining firms that have yet to confirm they will adopt it. Those will be the ones targeted by the initiative. “Those companies not committing to the standard are clearly labelling themselves as an increased risk in investors’ portfolios, for insurers and banks, and to the communities and environment in which they operate,” said Adam Matthews, Chief Responsible Investment Officer for the CoEPB and Board Member of the Institutional Investors Group on Climate Change. “They also undermine efforts by the whole sector to address the systemic issue of tailings waste, and as such, will be the intense focus of a renewed investor engagement.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top