Finance

COEPF statement thumbnailCOEPF statement thumbnail

The Church of England Pension Fund

issued a “Statement on Anglo American and Proposed Take-Over Bids.”

The statement explained “Anglo has played a distinct role in driving best practice and was one of the first to support institutional investor calls for a different approach following the Brumadinho tailings disaster. It recognised that the social license of the sector was under threat and that the key to addressing challenging issues and building trust required multi-stakeholder approaches. It is also Anglo that has championed the development of a multi-stakeholder approach to standards through initiatives such as IRMA.”

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29 investors managing US$1.2 trillion

signed a statement demanding companies enhance their environmental and social due diligence in nickel supply chains of the electric vehicle industry.

The 29 signatories endorsed VBDO and Rainforest Foundation Norway’s  investor statement which uniquely mentions IRMA as “one key initiative in this area which downstream companies can support by joining directly but also by prioritising sourcing from mines audited by IRMA and requiring their own suppliers to be audited by IRMA.”

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Cover of Investor Expectations for Diversified MiningCover of Investor Expectations for Diversified Mining

Climate Action 100+

, an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change, published “Investor Expectations for Diversified Mining.”

In section 9.iii “Aligning with core best practices for the acceleration for of [transition mineral] mining” they suggest “that IRMA be considered the primary independent responsible mining [verification] when assessing indicator 9.iii because of its multistakeholder governance system that specifically allocates equal governing power to each of the represented stakeholders: communities, workers, NGOs, mining companies, companies that purchase mined materials, and investors.”

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Morningstar-Sustainalytics

Associate Director for Stewardship, Joris Laseur published a blog: “Raising the Bar in Mining and Minerals for the Cleantech Supply Chain: The Role of Multi-Stakeholder Initiatives.”

In discussing the shift towards renewables, Mr Laseur notes that “metals need to be mined responsibly and then become part of the circular economy,” and that “two initiatives have emerged as leaders in the supply chains of cleantech equipment: Aluminium Stewardship Initiative (ASI) and the Initiative for Responsible Mining Assurance (IRMA).

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