Ensure sustainable mining standards and traceability

Metals and minerals are imperative for a successful transition to a low-carbon economy; however the sector accounts for both significant emissions and land degradation. For example, almost 15% of the land used in producing raw materials today falls within a protected area, for example. BNEF estimates that this land disturbance could more than triple as existing mines expand to meeting growing demand. Meanwhile, several communities are pushing back on mining projects because of their impact on local communities.

The mining sector must adopt more-sustainable practices as it expands and responds to energy-transition-related demand. Policymakers should urge the sector to reduce its carbon footprint by ensuring sustainable mining standards and traceability. One way this could be done is by holding the sector accountable through the enforcement of compulsory emissions reporting and global greenhouse-gas benchmarks. Other options include encouraging the use of renewable electricity and low-carbon fuels in powering operations, or introducing targets for secondary production, which refers to recycling metals from end-of-life products. The close proximity of several mining activities to highly biodiverse areas means that policymakers should consider measures that mitigate any damage or disruption to natural ecosystems. Given the mining sector’s unique intersection with social and governance issues, governments should also enforce effective traceability requirements across the sector. This transparency permits end-users to ensure that the metals and minerals used in products are sourced responsibly and ethically.