Thirty investment institutions with over US$2.7 trillion in assets under management have endorsed a statement calling for responsible mining practices in the nickel supply chains of the electric vehicle industry, with new signatories still joining after the initial February 20 launch.   

Led by the Dutch Association of Investors for Sustainable Development (VBDO) and Rainforest Foundation Norway, the statement uniquely specifies the Initiative for Responsible Mining Assurance (IRMA) as key to advancing responsible nickel mining. 

Consistent with the IRMA Standard, the statement calls for upstream suppliers to commit to the adoption of free, prior and informed consent (FPIC), independent third-party auditing, multi-stakeholder consultations, fair compensation to affected rights-holders, effective grievance procedures and a commitment to report publicly on the implementation of these actions. 

The list of signatories includes pension funds and asset managers well-recognized in the sustainable investing space including PGGM, Storebrand, and Triodos Investment Management.