Building resilience in the mining and metals industry

Challenge the practice is addressing: This practice addresses the construction of resilience in the mining and metals industry. A changing climate will have a wide range of implications for the mining and metals sector. Extreme weather events and long-term changes in climate patterns will impact fixed assets and disrupt supply chains. Members of the ICMM are concerned with water management, facilities with long lifespans for which design criteria may include climate-related assumptions, as well as how climate change may impact closures and closure processes

Concrete practice to achieve the expected goal: ICMM members are guided through a step-by-step process to identify climate risks and opportunities. The seven steps (Defining the scope, Understanding the current situation, Exploring future climate scenarios, Assessing climate risks and opportunities, Identifying risk management/ adaptation options, Evaluating risk management/ adaptation options, Developing adaptation pathways) suggest ways for members to develop plans for adapting to climate-related challenges, while recognizing that each company is on its own road to climate resilience. Using observational and predicted climate data and scenarios is particularly important to understanding current and potential future risks, and using mining and metal companies' well-established risk management procedures and systems is an integral part of this step-by-step approach.

Expected impact/goal of the practice: Climate change may impact a mining company's environmental performance and social license to operate as it begins to impact host communities and local environments. On the other hand, climate change may also present opportunities for mining companies. In addition to reducing costs, preserving or enhancing revenue, and improving relationships with stakeholders, minimizing climate-related risks can also identify new opportunities for business.

Who is the target user group of the practice/intervention or implementing the practice/intervention? This practice is relevant for industry.