Water Risks in the Mining Sector: Why they matter to business?
Event description
The mining sector has a key role to play in contributing to good global water management and supporting the objectives of the UN Sustainable Development Goals. This webinar, moderated by Ambika Jindal as Lead of the Valuing Water Initiative, explored the necessity of sharing responsibility in considering the multiple values of water in the mining sector alongside a financial return. As a notoriously water-intensive economic activity, mining frequently infringes on other forms of water use whether that be water as a public health concern, as an essential prerequisite for producing livelihoods, or as a cultural heritage or an element of spiritual practice.
Jindal highlighted that by integrating broad water risks into the mining sector and pro-actively collaborating with local communities, companies can not only demonstrate to investors their management of water risks but also build trust among all stakeholders whilst showing respect for other water users and the ecosystems in which they operate.
Hélène de Villiers-Piaget, CEO of the Responsible Mining Foundation, spoke about recent research from the Responsible Mining Foundation which highlighted the risk of operational concerns overriding public interest due to the discrepancy in the availability of data on water quality versus water quantity. Mining companies are much less likely to track and report on their management of water quality compared to water quantity even though other stakeholders sharing the same water resources as mining operations rely heavily on the quality of the water and need useful information on water pollution levels. Villiers-Piaget noted that whilst companies’ operational concerns about their water supply promote more regular reporting of water consumption levels, companies have largely neglected to publicly disclose locally-relevant data on water quality. She expressed concern that this could ultimately hinder mining companies from tapping into liquidity pools made available by investors and lending.
May Hermanus , Adjunct Professor at the University of the Witwatersrand, spoke about the need to value mines more comprehensively to take into account the local water context of a mine and associated costs which may not be solely economic.
Emmanuel Peni, Human Rights Defender & Project Sepik coordinator, spoke about the human rights impacts of the mining industry on indigenous peoples and how they connect to water resources. He cited the example of Helena Taliberti and Vagner Dinix who lost both their children (Camila & Luiz Taliberti) to the Brumadinho Disaster and urged investors to withdraw their stake from mining companies responsible for such disasters pending a change in the company’s behaviour. He also touched upon the multiple values of water referencing how, in his culture in Papua New Guinea, water is recognized as a “super spirit”.
Peter Kindt, Head of Metals, Mining & Fertilizers EMEA, ING Bank spoke about how understanding, measuring and analysing water-related issues in the mining industry is a complex and often undervalued task while of great importance to banks and other investors. This is not just from an impact investment perspective, but also because sustainable business is better business. Therefore companies need to be on better trajectories to improve and adhere to industry best standards with clear financial incentives to do. He also spoke about the need to engage with the mining sector to drive impact rather than focusing on exclusion which does not encourage good behaviour.
Moderator:
Ambika Jindal
Lead Valuing Water Initiative, Ministry of Foreign Affairs (NL)
Speakers:
May Hermanus
Adjunct Professor, University of the Witwatersrand (South Africa)
Emmanuel Peni
Human Rights Defender & Project Sepik coordinator (PNG)
Helena Taliberti and Vagner Diniz
Instituto Camila e Luiz Taliberti (Brazil)
Peter Kindt
Head of Metals, Mining & Fertilizers EMEA, ING Bank (NL)
Hélène Piaget
CEO, Responsible Mining Foundation (CH)
Richard Morgan
Head of Government Relations, Anglo American (UK)