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RIYADH, Saudi Arabia, Dec. 12, 2022 /PRNewswire=KYODO JBN/ --

Future Minerals Forum (FMF) partners, the Development Partner Institute (DPI)

and Clareo, are jointly issuing a cogent new paper focused on the importance of

responsibly sourcing minerals. They call for a multi-stakeholder, multi-sector

approach, and stress the role Saudi Arabia and the wider region covering Africa

and Western and Central Asia could – and must – play in spearheading

innovation.  

Ahead of the 2023 and second edition of the Future Minerals Forum (FMF),

scheduled to take place between January 10th and the 12th, in Riyadh, the

Development Partner Institute and Clareo are calling on  the industry to

maximise and fully develop close collaboration with stakeholders. The joint

paper emphasises the need for standardized environmental, social and governance

(ESG) principles to address critical concerns, not least the reduction of  

greenhouse gas emissions, and the drive towards creating a fossil-fuel-free

economy.

With more than 600 ESG reporting provisions instituted globally, DPI and Clareo

stress the importance of  work performed at bodies such as the International

Sustainability Standards Board (ISSB), announced at COP26  last year.

The organizations urge the mining industry to embrace a universal but flexible

approach, adopting international standards while still taking local factors

into account. Its model brings greater clarity to what it calls the "current

ESG reporting difficulties".

DPI and Clareo point  to the role that Saudi Arabia can now play in supporting

the creation of a universally adopted set of principles that support the

adequate, affordable, secure and responsible sourcing of minerals.

They argue that with considerable support and engagement in these issues, the

Kingdom is in prime position to foster a triangle of trust between government,

communities and mining companies. They identified three specific areas in which

Saudi Arabia is poised to  make the biggest impact.

Peter Bryant, Chair of both the Development Partner Institute, and of Clareo

(specialising in ESG innovation) concludes in the paper:

"Tackling this challenge requires a mindset shift, an investment in innovation

and most importantly, a multi-stakeholder approach that takes into account the

goals and incentives of each player in the value chain."

To learn more, please download the full report through the following link

https://bit.ly/3iSwWN2

Omar Shereen, omar.shereen@fleishman.com, +966 50 663 0489

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Source: Future Minerals Forum