Unlocking the Future of Sustainability in Mining, Introducing GRI 14 : Mining Sector Standard

In February, the Global Reporting Initiative (GRI) took a significant step forward in the realm of sustainable development with the launch of the GRI 14: Mining Sector Standard. This standard unveils the dual nature of the mining sector, one as a vital engine for economic growth and another as a source of critical sustainability challenges. As the backbone of various industries, providing indispensable raw materials, the mining sectors contribution to economic development is undeniable, especially for developing countries. However, its operations cast a long shadow, threatening the very fabric of our environment and society if left unchecked.

A New Era of Accountability and Transparency

Carol Adams, Chair of GRI’s Global Sustainability Standards Board, emphasizes the important position that the mining sector is for sustainability. "The sector is both a key to unlocking a low-carbon future and a significant source of environmental and social impact.” Adams states that there is a critical need for detailed, consistent, and globally comparable reporting standards for mining companies. This standard then can be further use to enable mining organizations to effectively communicate their impact, fostering trust and transparency with stakeholders. This is why the GRI 14: Mining Sector Standard is developed

A Collaborative Effort for a Sustainable Future

Developed by a dedicated Working Group as part of a multi-stakeholder initiative appointed by the GSSB, this project commenced in 2021 and is set to be implemented in 2026. It aims to provide a comprehensive framework for reporting on the sectors most significant economic, environmental, and social impacts. The standard identifies 25 material topics, ranging from greenhouse gas emissions to local community impacts and human rights, linking closely to the Sustainable Development Goals (SDGs). The standard is only applicable by organizations that fulfill these criteria, which is:

1.      Exploration, extraction, including quarrying, and primary processing of all types of minerals, metallic and nonmetallic, except for oil, gas, and coal.

2.      Support activities for mining, such as transport and storage, when integrated into the mining organization’s core operations.

3.      Supply of specialized products and services to mining organizations, such as those provided by contractors for Engineering, Procurement, and Construction (EPC) and operational activities mentioned above

Starting from 2026, the mining sector will be expected to use this framework to determine its material topics and disclose information related to these topics. Information disclosure is done by using the GRI Universal Standards 2021, comprising of GRI 1: Foundation 2021, GRI 2: General Disclosures 2021, and GRI 3: Material Topics 2021, and the GRI Topic Standards, comprising of GRI 200: Economy, GRI 300: Environment, and GRI 400: Social.

Industry Leaders Rally Behind GRI 14

The support for GRI 14 spans across the sector, with endorsements from legal, environmental, and industry bodies. K.C. Michaels of the International Energy Agency (IEA) praises the standard for balancing sustainability with industry challenges, emphasizing the importance of reporting on biodiversity, water usage, and emissions. Deepak Gulliya from WWF India points out the standards role in guiding companies through new explorations, ensuring a mindful approach to ecological and community impacts. Aiden Davy of the International Council on Mining and Minerals (ICMM) acknowledges the expanded reporting scope, advocating for streamlined reporting in an increasingly complex landscape.

A Call to Action for Sustainability in Mining

The GRI 14: Mining Sector Standard is not just a reporting framework; it is a call to action for the mining sector to engage in responsible, sustainable practices that respect both the planet and its people. By adhering to this standard, companies can play a pivotal role in the global transition to a sustainable future, ensuring that the mining sector contributes positively to both economic growth and environmental stewardship.

As we embark on this journey together, the GRI 14: Mining Sector Standard stands as a testament to the power of collaboration and commitment to sustainability. Let us embrace this opportunity to redefine the mining sector for the betterment of our world.