“If anyone needed reminding that tailings dams pose a clear and present danger to the environment and communities this latest disaster should leave us all in no doubt this issue remains urgent and requires continued attention from industry, governments and investors. This incident appears to have occurred at a joint venture and underlines how important it is that company’s disclosure where they have tailings facilities in such ventures.
"The Global Tailings Portal, created following the Brumadinho disaster, asked companies to disclose this information. It would appear that not all have done so. We would ask all companies to re-check their disclosures to ensure that any joint venture, whether with a majority or minority ownership interest, correctly lists any tailings facilities within the operation. The incident underlines the critical importance that companies commit to adopt and implement the new Global Tailings Standard and for an Independent International Institute, currently under development by investors and the UN, to verify compliance.
"We are under no illusion that there remains some distance to go before we can be confident best practice is being applied by all companies whether listed, private or in a joint venture. We remain committed to achieve this ambition working with governments, companies and our partners at the Council on Ethics of the Swedish National Pension Funds and the United Nations Environment Programme.”
Adam Matthews, Co-Chair Mining & Tailings Safety Initiative and Chief Responsible Investment Officer, Church of England Pensions Board