Adam Matthews, Chief Responsible Investment Officer, Church of England Pensions Board (who acted on behalf of PRI in the process of developing the Standard) said:
“As investors in the mining industry, the safety of tailings facilities is a major priority for the Church of England Pensions Board. Now that we have a Global Industry Standard on Tailings Management, we are very supportive of practical resources like those published today that seek to bridge the Standard and implementation.
“We have been clear, along with many other investors, banks and insurers, that poor tailings management poses a significant risk to life and the environment and companies that do not demonstrate conformance to the Standard will find themselves at odds with their shareholders, banks and insurers. It is crucial for industry to get this right and to continue to improve. In that context, we welcome ICMM’s Conformance Protocols as an effective means of demonstrating conformance. This is another important foundational piece of the puzzle being put into place in advance of the establishment of an independent Global Tailings Institute later this year."