Mining 2030 Commission names members, welcomes investor support

Collaborative investor-led initiative the Global Investor Commission on Mining 2030, also known as the Mining 2030 Commission, has, to date, gained the support of 82 investors with over $11-trillion in assets under management (AUM).

The commission, which has also announced the names of its 24 commissioners, strives to ensure a socially and environmentally responsible mining sector by 2030.

Advised by the United Nations Environment Programme and backed by the Principles for Responsible Investment, the membership of the Mining 2030 Commission includes representatives from communities, intergovernmental organisations, civil society, academia, law, unions, the mining industry, banking, insurance and investors among others.

The commissioners will meet on a monthly basis and will contribute to the development of a vision for the future of mining that will specifically consider how investors value, invest and steward the sector to meet future demand in a socially and environmentally responsible manner.

Church of England Pensions Board chief responsible investment officer Adam Matthews has been appointed chairperson and De Beers Group South Africa chairperson Barend Petersen deputy chairperson of the Mining 2030 Commission.

“The Mining 2030 Commission presents a unique opportunity to step back and consider how investors value, steward and 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,” says Matthews.   

“If mining is to provide what society needs into the future then we need to reflect if we are enabling it to do so to the highest standards. The role of investors is critical to how the sector can meet future demand sustainability and responsibly. We need to think long term and the commission presents an opportunity to do so,” adds Petersen.

The other 22 commissioners are:
*Social responsibility researcher and representative of the Brumadinho community Angelica Andrade;

*Royal London Asset Management head of responsible investment Ashley Hamilton Claxton;

*Worley VP Darryn Quayle;

*European Bank for Reconstruction and Development senior adviser David Williamson;

*Natural Resource Governance Institute representative Erica Westenberg;

*Levin Sources founder and CEO Estelle Levin-Nally;

*Indigenous Peoples Advisory Forum committee member Father Nicky Barla;

*LME chief sustainability officer Georgina Hallett;

*IndustriALL Global Union director of mining Glen Mpufane;

*Independent insurance adviser Günter Becker;

*LME Group global head of sustainable investment research Jaakko Kooroshy;

*Extractive Industries Transparency Initiative communications director and interim policy director Joanne Jones;

*Ambassador for Global Tailings Management Institute John Howchin;

*Institute for Human Rights and Business CEO John Morrison;

*Organisation for Economic Cooperation and Development minerals and extractives senior adviser Louis Maréchal;

*ArcelorMittal global head of mine closure planning and circular economy Malcom Shang;

*Inter-American Development Bank lead mining specialist Natascha Nunes da Cunha;

*Newmont Corporation strategic adviser Nick Cotts;

*ING global sustainability lead Peter Kindt;

*White and Case partner and global head of industries and mining and metals Rebecca Campbell;

*Tal Lomnitzer in his personal capacity; and

*Aecom president Vicente Mello.

Among the asset owners and fund managers that have pledged their support for the commission are South African fund manager Ninety One, with $175-billion in AUM; the Australian Council for Superannuation Investors, whose members have $1-trillion in AUM; Canadian fund CDPQ, with $309-billion in AUM; and US fund CalSTRS, with $307-billion in AUM.

Dutch fund APG-AM, with $589-billion in AUM; UK fund Scottish Widows, with $206-billion in AUM; UK fund USS, with $109-billion in AUM; fund manager LGIM, with $1.47-trillion in AUM; Abrdn, with $467-billion in AUM; and AVIVA, with $270-billion in AUM have also pledged their support.

The Mining 2030 Commission builds on the experience of the investor-led response following the 2019 Brumadinho tailings disaster, in Brazil, which contributed to the creation of a Global Industry Standard on Tailings Management, and the effort to establish an independent Global Tailings Management Institute to oversee the audit and implementation of the standard.

The Mining 2030 Commission has also issued an invitation to stakeholders from across the mining sector to contribute evidence to a landscape research project, starting this month, to understand future supply and demand and key challenges that could prevent demand from being met.

Submissions are due by December 20.