SEATTLE (Scrap Monster): Metals Focus- the leading precious metals research consultancy announced publication of its Gold Environment, Social and Governance (ESG) Focus 2023 report.
As per the report published by the UK-based consultancy, the world gold mining industry has shown significant improvement in key ESG metrics during the previous year. The report outlines the data for 17 major gold miners across the globe, in comparison with 2014 figures, so as to provide a broad outline of ESG trends in the gold mining industry.
The combined scope 1 and 2 greenhouse gas (GHG) emissions recorded notable decline by 2% in 2022. This is mainly due to boosted emission reduction initiatives and reduced use of fossil fuels. The water consumption rates recorded decline by 3%. The report also points to significant improvements in water recycling rates. The spending on community projects rose considerably to $373 million.
Sarah Tomilson, Director of Mine Supply, Metals Focus noted that the dip in combined scope 1 and 2 greenhouse gas emissions driven by proactive industry initiatives is a promising sign for the future. The 37% jump in community project investments underscores the industry’s dedication to fostering resilient and sustainable communities, she added.
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