As Environmental, Social and Governance-ESG-regulations tighten, the global Copper Mark assurance program for sustainable copper production is evolving to meet higher standards and changing market demands.
In a recent article Michèle Brülhart, Executive Director, Copper Mark, said new market expectations are being embedded across The Copper Mark standards, the framework requires participating sites to keep pace with rising standards to retain or earn The Copper Mark.
For example, 29 Copper Mark participants have publicly available targets for their Green House Gas (GHG) emissions reductions and several sites in the framework are working to fully meet the Copper Mark’s Criteria 15 on GHG emissions.
The Copper Mark is engaged with an additional five participants to fully meet Criteria 31 on Due Diligence in Mineral Supply Chains, ensuring their processes for risk identification and mitigation meet international best-practice standards.
The Copper Mark participants are also required to report publicly on their ESG performance using internationally recognised standards. Seven participating sites in The Copper Mark have, since joining the framework, published their first OECD Five-Step report, supporting the development and implementation of more robust processes of due diligence.
Promoting compliance and improving standards at the site level will require consistent engagement and monitoring, particularly to support companies as they navigate the challenges and tensions around increasing production in the context of rising ESG expectations from governments, investors and end users.
Copper Mark: https://coppermark.org/
