The World Bank has launched its new climate-smart mining facility, aimed at building partnerships to manage the role mining will play in supplying the minerals needed for clean energy technologies to help address climate change.
The initiative will bring together governments, private sector companies, academic and research institutions to promote sustainable mining practices in resource rich developing countries, with initial support from Rio Tinto, Anglo-American, and the German government.
Climate-smart mining has been developed in concert with the broader UN sustainable development goals to ensure that the benefits from the transition to low-carbon technologies are shared.
It will innovate and deploy financing to scale up technical assistance and support for projects such as:
- The integration of renewable energy into mining operations
- The strategic use of geological data for a better understanding of ‘strategic mineral’ endowments
- Forest-smart mining: preventing deforestation, supporting sustainable land-use practices and repurposing mine sites
- Recycling of minerals: supporting developing countries to take a circular economy approach and reuse minerals in a way that respects the environment
- The Facility will also assist governments to build a robust policy, regulatory and legal framework that promotes climate-smart mining and creates an enabling environment for private capital.
Read the article online at: https://www.globalminingreview.com/environment-sustainability/02052019/rio-tinto-supports-world-bank-launch-of-climate-smart-mining-facility/