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Mining is a notoriously dirty and dangerous business – so much so that it has often been shunned by responsible and risk-averse investors. In recent years, the Brumadinho dam disaster and the Juukan Gorge scandal have provided ample evidence of the environmental and social risks associated with the sector.
Yet it is crucial to the energy transition. According to the Global Investor Commission on Mining 2030, around 300 new mines will be required to supply the minerals for the batteries, solar panels and wind turbines that will power the green economy.
This means investors can no longer ignore the sector, says Adam Matthews, chair of the commission and chief responsible investment officer at the Church of England Pensions Board.
In this episode of The Responsible Investor Podcast, he talks to RI editor Lucy Fitzgeorge-Parker about how investors can work together and with the mining industry to ensure that the ramp-up required for the energy transition is managed to minimise the impact on workers, communities and nature.
With more than 10 years’ experience of engaging with the industry, plus first-hand knowledge of mining in some of the world’s most remote and dangerous regions, Matthews is uniquely qualified to comment on a key challenge for ESG investors.