Page 27 - Bullion World Issue 1 May 2021

Bullion World | Issue 01 | May 2021

“ We believe that the

rate of transition means
that it is credible that
gold mining will reach
net-zero by 2050, in
alignment with the Paris
”
Accord.

Members, 33 of the world’s leading gold energy alternatives. There are many
“ Last year, we mining companies, are committed to the examples where gold miners are taking
RGMPs.
the lead including the first all-electric
released a report The World Gold Council and its Members mine, a Newmont mine in Ontario
have long believed that responsible
Canada, and installation of one of the
entitled Gold Mining’s gold mining can support sustained world’s largest solar arrays in Burkina
Contribution to socio-economic development for the Faso at an IAMGOLD mine which
the UN Sustainable communities and countries that host not only supplies the mine but also
surrounding communities. We believe
gold mining operations.
Development Goals. that the rate of transition means that it
The report features Last year, we released a report entitled is credible that gold mining will reach
over 40 case studies Gold Mining’s Contribution to the UN net-zero by 2050, in alignment with the
Sustainable Development Goals. The
Paris Accord.
looking at 15 of the 17 report features over 40 case studies
” focus of the SDGs is partnerships and an investment portfolio can reduce its
SDGs. looking at 15 of the 17 SDGs. A main In addition, investing in gold means that
gold miners can really make a difference greenhouse gas emissions exposure
to the lives of many when working in over time. This is because 99 percent of
effective partnerships with governments greenhouse gas emissions occur at mine
and communities and the COVID-19 site, so once gold is mined it virtually
pandemic has made working in effective has no emissions associated with it.
partnerships even more important The downstream use of gold - bars,
than ever. The gold industry was quick jewellery and for electronic products -
to respond to some of the immediate does not have a significant impact on
challenges created by the pandemic gold's overall carbon footprint or global
including providing medical facilities greenhouse gas emissions.
and PPE supplies and working with
host governments to enhance critical Whilst the gold industry has done a lot to
health care and education for local improve its ESG credentials, more work
communities. needs to be done and this continues to
be an area of focus. However, it is clear
Climate change has come to the that gold is an essential part of our lives,
forefront as a critical global issue. can support sustainable development
In recent years, there has been an and is a key enabler of the transition to a
increased focus on climate change lower carbon economy.
from investors and the broader society
on what companies, governments and Terry Heymann, Chief Financial Officer,
industries are doing to respond to the World Gold Council
challenge. This is to be welcomed.

The gold mining industry is in a good
position to decarbonize, including by
switching from fossil fuels to renewable

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