Global investors with $11trn in assets rally behind Mining 2030 Commission

The Global Investor Commission on Mining 2030, also known as the Mining 2030 Commission, is a collaborative investor-led initiative.

The member investors include Dutch fund APG-AM, Canadian fund CDPQ, US fund CalSTRS, UK funds Scottish Widows and USS, as well as managers LGIM, Abrdn, AVIVA, South African manager Ninety One and the Australian Council for Superannuation Investors.

The Global Investor Commission on Mining 2030 chair Adam Matthews said: “The Mining 2030 Commission presents a unique opportunity to step back and consider how investors invest for the long-term in a sector whose time horizons are multi-decadal and often at odds with short-term investment pressure.

“Twinned with this will be a consideration of the role of investors in supporting the alignment and consolidation of best practice standards on the key issues that challenge the sector as well as the role of addressing existing and future conflict that can be caused or exacerbated by extraction.”

The Mining 2030 Commission, comprised of 24 Commissioners representing diverse geographies and mining stakeholder groups, is aiming to develop a comprehensive vision for the future of mining.

The members are poised to meet monthly to discuss how investors can responsibly value, invest in and steward the sector to meet future demand.

The Commission is guided by the United Nations Environment Programme (UNEP) and supported by the Principles for Responsible Investment (PRI).

Its membership spans communities, intergovernmental organisations, civil society, academia, law, unions, the mining industry, banking, insurance and investors.

This inclusive approach is to ensure a broad spectrum of perspectives, including representatives from the European Bank for Reconstruction and Development (EBRD), ING Bank, mining company Newmont, the Indigenous People’s Advisory Forum (IPAF), IndustriALL Global Union, London Stock Exchange Group (LSEG) and the Brumadinho community.

Key objectives: A roadmap to responsible mining

The Commission aims to ensure that the mining industry maintains a clear social license to operate, meets society’s needs responsibly without fostering conflict or corruption, operates within planetary boundaries and contributes positively to social development and the environment.

The Mining 2030 Commission has outlined five key objectives to guide its mission. These include unravelling how investors value, invest in and engage with the mining sector; focusing on changing mineral demand, and defining good practice.

Additionally, it seeks to identify barriers and systemic challenges facing the mining industry, hindering the delivery of minerals and metals to meet societal demands and the low-carbon transition requirements.

The Commission also aims to identify investors’ requirements in assessing data related to the social and environmental performance of mining companies. This involves describing the current landscape of available data, considering regulatory requirements and voluntary standards.

Furthermore, the Commission has committed to assessing the role of standards in driving industry best practices, examining efforts by organisations to consolidate global best practice standards and disclosures.

Lastly, it will consider how mining activities can contribute to or exacerbate conflict, identifying practices to avoid or minimise conflict and exploring the role of investors in responding to such situations.