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Thursday, Feb 9, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Mining

G7 countries form Sustainable Critical Minerals Alliance to reverse biodiversity loss

The purpose is to push the mining industry worldwide to be more environmentally sustainable, socially inclusive and responsible

Photo via Minister of Natural Resources Jonathan Wilkinson.

Canada and other G7 members have created the Sustainable Critical Minerals Alliance to push the mining industry worldwide to be more environmentally sustainable, socially inclusive and responsible.

Canada’s Minister of Natural Resources Jonathan Wilkinson announced during the COP 15 that the Sustainable Critical Minerals Alliance aligns with the G7 2030 Nature Compact commitment to halt and reverse biodiversity loss by 2030 through a globally-wide system change to reduce greenhouse gas emissions.

The alliance is formed by Canada, Australia, France, Germany, Japan, the United Kingdom and the United States.

Through the alliance, countries will work to develop sustainable and inclusive mining practices and source critical minerals. They will also focus on the prevention of biodiversity loss, protecting species at risk, supporting nature protection and minimizing pollution as well as driving toward net-positive benefits to the natural environment.

Read more: Canada unveils $3.8B ‘Critical Minerals Strategy’ for sustainability

Read more: Calibre releases short doc on environmental initiatives in Nicaragua

Countries agreed to the following six commitments:

  • Support local and Indigenous communities by respecting their rights and interests
  • Reduce greenhouse gas emissions and work toward achieving net-zero emissions by no later than 2050
  • Adopting requirements for reclamation and remediation to close and return mine sites to their natural state and holding responsible parties accountable for environmental harm
  • Promoting material stewardship, including byproducts and recovery from waste, keeping products in use longer as well as accelerating the reuse and recycling of critical minerals
  • Foster ethical corporate practices through sustainability reporting to investors and the public

Days before, the Canadian government published The Canadian Critical Minerals Strategy, a 52-page document outlining the country’s comprehensive action plan to transform into a more energy-efficient and sustainable nation.

 

 

 

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