State of Sustainability Initiatives Review: Standards and the Extractive Economy
This report examines voluntary sustainability initiatives (VSIs), and their aim to promote sustainable production practices in the mining sector.
In the last decade, the international community has increasingly recognized the central role of sustainable consumption and production in the implementation of sustainable development.
As a result, the mining sector, like other primary commodity sectors, has seen a wide variety of multistakeholder, market-based supply chain initiatives arise. These are called voluntary sustainability initiatives (VSIs), and they aim to promote sustainable production practices, often at the global level.
The rapid growth in the number of VSIs has been cause for concern for some civil society and public-sector players, as well as for the private sector, as keeping track of the sheer volume and diversity of initiatives is challenging and costly. Because this monitoring is difficult, the value of VSIs to society and the marketplace may suffer as a result.
This report dives headfirst into this complex and quickly moving space to provide readers with synthesis and analysis across a number of areas. We have applied a distinctly rigorous methodology across 15 major initiatives, capturing not only the content (environmental, social and business dimensions)—where most other analyses end off—but also the level of obligation demanded by the initiative to implement sustainability actions. Our review is comprehensive, revealing the different strengths (and often the different intended purposes) of VSIs and the challenge of finding a one-size-fits-all initiative.
For recent developments on the standards covered in this report, please visit the individual standards' websites:
- Aluminium Stewardship Initiative (ASI)
- Bettercoal (BC)
- Initiative for Responsible Mining Assurance (IRMA)
- International Council on Mining and Metals
- International Finance Corporation Environmental and Social Performance Standards
- MAC's Towards Sustainable Mining
- Responsible Jewellery Council
- Cornerstone Standards Council
- Fair Stone
- Natural Stone Council
- The Forest Trust Responsible Stone Programme
- XertifiX
- Fairmined
- Fairtrade Gold and Silver
You might also be interested in
CSDDD: EU's Due diligence law vote should drive supply chain sustainability efforts
The European Parliament has voted to adopt the Corporate Sustainability Due Diligence Directive, aiming to address the environmental and social impacts of the supply chains of Europe's large corporations.
Will the Inclusion of Voluntary Standards in Trade Agreements Lead to More Sustainable Trade?
The use of voluntary sustainability standards (VSSs) and similar systems in free trade agreements (FTAs) is gaining traction. Will it lead to more sustainable production and consumption globally?
Ecuador Referendum Rules Out ISDS Return, Underlining Public Support for a Sustainable Path
Ecuador has voted to allow international arbitration and investor–state dispute settlement (ISDS) in its treaties and agreements. But the risks that initially made them turn away from this outdated model remain.
Strategic Environmental Assessment for the Mining Sector
Strategic environmental assessments (SEA) are an essential tool for policy-makers working to develop a sector-wide vision for responsible mining.