Future Minerals Forum
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Sustainable environmental, social, and governance (ESG) practices
- Responsible mineral sourcing
- Capacity building
- Green metals hubs
- Regional critical minerals framework
Environmental Achievements
- Facilitating businesses to reduce operating costs and adhere to environmental standards more effectively through technology adoption (drones, remote data measurement units, etc.)
- Creation of green metals hubs in the Super Region enabled by new technologies and powered by renewable energy
Social Achievements
- Developing human potential to manage the value chains of the future
- Training to develop the skill sets needed to sustain mineral production and processing across the Super Region
- Developing a framework setting to serve as a guideline for responsible mineral production based on transparency of supply chains
Governance Achievements
- Developing a regional critical minerals framework to promote global collaboration and maximize value creation in supplier countries
- Saudi Arabia’s establishment of a Mineral Innovation and Acceleration Park (MIAP) in Riyadh
Climate Goals & Targets
Environmental Challenges
- Underexplored Super Region with lowest exploration spend globally
- Need to increase capacity and logistics of mineral and metal value chains to meet growing demand
- Ensuring local value addition in investments in Africa
Mitigation Strategies
- International Geological Survey Meeting to leverage international collaboration, modernize geological survey data, and support capacity building
- Mineral Exploration Zone to connect junior exploration companies with investors
- Agreements and Memoranda of Understanding to attract investment and promote sustainability standards
Supply Chain Management
Responsible Procurement
- Developing a framework setting to serve as a guideline for responsible mineral production based on transparency of supply chains