Markets working to support sustainable development

Mining and metals

Alliance for Responsible Mining & Fairmined Standard

Business and Biodiversity Offsets Program (BBOP)

The Business and Biodiversity Offsets Program (BBOP) is an international collaboration between over 70 companies, financial institutions, government agencies and civil society organisations. It aims to help companies to conserve biodiversity in an ecologically effective and economically efficient manner as they pursue their business goals.

The UN Clean Development Mechanism

The Clean Development Mechanism (CDM) is one of the three market based instruments included in the Kyoto Protocol (1997). It is designed to help countries meet emissions reductions, encourage private sector involvement and contribute to sustainable development.

Ceres Coalition and Principles

The Ceres Coalition of investors, environmental organisations and other public interest groups states it’s mission as: ‘Integrating sustainability into capital markets for the health of the planet and people’. The coalition includes many Fortune 500 companies and is involved in improving the dialogue between multiple stakeholders through engagement and disclosure.

The Ethical Trading Initiative (ETI)

Members of Ethical Trading Intiative (EITI) have to adopt the Base Code for ethical trading and sign up to the Principles of Implementation – these require a company to demonstrate its commitment to ethical trade, to integrate ethical trade into core business activities and drive year-on-year improvements. In addition they should support suppliers through training and capacity building and should report on their activities openly and accurately.

The ETI Base Code Principles are that:

The OECD Declaration on International Investment and Multinational Enterprises

The Organisation for Economic Co-operation and Development (OECD) declaration is a policy commitment by member governments to: improve the investment climate; encourage Multi National Enterprises (MNEs) contributions to social and economic development; and minimise and resolve difficulties from their operations. The guidelines are supported by a network of National Contact Points (NCP's), agencies established to help governments adhere to the guidelines.

Extractive Industries Transparency Initiative (EITI)

The EITI seeks to set a global standard for transparency in oil, gas and mining and is applicable to national governments. The EITI has a number of principles and indicators that are predominantly centred on improving transparency and accountability in the extractive industries.

The EITI maintains the EITI standard, which was updated in May 2013. Countries implement the EITI Standard to ensure full disclosure of taxes and other payments made by producing oil, gas and mining companies. These payments are disclosed in an annual EITI Report. 

International Council on Mining and Metals (ICMM) Sustainable Development Framework

All ICMM members are required to implement the Sustainable Development Framework. This includes integrating a set of 10 principles and six supporting position statements into corporate policy, as well as setting up transparent and accountable reporting practices.

Principles

United Nations Global Compact

The UN Global Compact  (GC) was launched in July 2000 and is a commitment by companies to incorporating environment and development principles within their business structures. Open to any company, The UN Global Compact is a ‘practical framework for the development, implementation, and disclosure of sustainability policies and practices’.

The Kimberley Process

The Kimberley Process Certification Scheme (KPCS) aims to certify that rough diamonds have not been sold to fund conflicts, i.e. that they are not ‘conflict’ or ‘blood’ diamonds. The KPCS entered into force in 2003.

The process brings together diamond exporting and importing states along with industry organisations and civil society groups.

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