GRI Introduces New Sustainability Reporting Standard for Mining Sector

A Leap Towards Transparency in Mining

The Global Reporting Initiative (GRI), a frontrunner in promoting standardized ESG reporting, unveiled a groundbreaking reporting standard for the mining sector today. This initiative is designed to enhance transparency around the sustainability impacts of mining operations, covering a broad spectrum of issues from emissions and biodiversity to community impacts and human rights.

The mining sector’s role in sustainable development is nuanced, supplying critical minerals for the low-carbon transition while also facing scrutiny over its environmental and social impacts. Carol Adams, Chair of the GRI’s Global Sustainability Standards Board (GSSB), highlights this dichotomy, emphasizing the sector’s pivotal role in enabling a low-carbon future alongside the potential for significant harm to nature and communities.

The newly launched GRI 14: Mining Sector 2024 standard is part of GRI’s ongoing effort to develop sector-specific standards, with the mining sector being identified due to its substantial impact. The standard outlines 25 likely material topics for mining companies, including emissions, waste management, human rights, climate change, anti-corruption, and community engagement. Unique to this standard are areas such as tailings management, artisanal and small-scale mining, and operations in conflict zones, aiming for enhanced site-level transparency.

The standard was crafted by an independent group of stakeholders from various sectors, including businesses, investors, labor groups, and civil society. It integrates principles from responsible mining guidance and standards, with contributions from notable entities such as the Extractive Industries Transparency Initiative (EITI), Initiative for Responsible Mining Assurance (IRMA), and the International Council on Mining and Metals (ICMM), among others.

This initiative marks a significant advancement in sustainability reporting within the mining industry. By setting clear expectations for reporting on critical impacts, the GRI 14 standard aims to foster improved communication between mining companies and their stakeholders, building trust and facilitating a more sustainable approach to mining operations globally.

Access to the new GRI mining standard is expected to empower organizations within the mining and quarrying sectors to better articulate their sustainability efforts and impacts, aligning with broader global efforts towards environmental stewardship and social responsibility.