Asia’s burgeoning critical minerals industry is intensifying environmental, human rights, and climate-related dangers, according to a recent report by the AIGCC and ISS STOXX. The boom, particularly in sectors like nickel, cobalt, and copper, presents significant challenges.
The report indicates that while a majority of companies involved in mining these essential minerals have established strong policies. These policies often address crucial areas such as labor practices, modern slavery, and emissions reduction.
However, a significant gap exists between policy formulation and practical execution. The AIGCC and ISS STOXX findings suggest that the implementation of due diligence processes on the ground often lags behind stated commitments.
This disparity raises concerns about the real-world impact of mining activities on both the environment and the rights of individuals involved in or affected by the operations.
The amplified risks underscore the need for more rigorous oversight and accountability within the critical minerals supply chain as demand continues to grow.
Source: Down To Earth