Gold Miners Encouraged to Implement Plans to Fight Climate Risks

SEATTLE (Scrap Monster): The World Gold Council (WGC) announced publication of its ‘Gold and Climate Change: Adaptation and Resilience’ report, which outlines key strategies to help the gold mining industry manage associated risks. It urged gold miners across the globe to implement clear plans to fight rising climate risk challenges.

ALSO READ:

WGC: Global Gold Supply Surged in Third Quarter

WGC Demand Trends Report Hints at Firmer Q3 Gold Demand

The report noted that gold mines are mostly located at remote and diverse geographical locations. They play a key role in local economies. Also, a large number of communities are either directly or indirectly dependent on the mining industry for their livelihood. The industry needs to create sustainable mining operations in the face of climate hazards, the WGC noted.

WGC warned that the supply chain is vulnerable to the increased complexity, frequency and severity of climate impacts, if there is no consistent, systematic and widespread planning. The report highlights the steps taken by gold producers in ensuring resilience at mine sites and communities. These steps need to be accelerated to catch up with rapidly rising climate impacts.

The gold trade body emphasized the need for various industry stakeholders to share their knowledge and resources.