A COALITION of investors managing $18 trillion in assets has called for the establishment of an independent International Minerals Agency modelled on the International Energy Agency, said Reuters on Tuesday.
The Global Investor Commission on Mining 2030, whose members include PIMCO, ING, L&G, Allianz Investment Management, Church of England Pension Fund and Royal London Asset Management, said the proposed body would monitor global mineral supply and demand as well as illegal flows.
The agency would also track companies’ progress towards global sustainability standards, the group said in a statement released in São Paulo.
The commission unveiled a report outlining a 10-year blueprint for a responsible mining sector ahead of United Nations climate negotiations. Members met with Brazilian President Luiz Inácio Lula da Silva before the announcement.
“The Commission’s vision offers a roadmap for investors to unlock value by promoting sustainability and improving public perception,” said Peter Kindt, global head transition accelerator at ING.
“Achieving this will require multi-stakeholder collaboration and new initiatives like an International Minerals Agency,” he added.
