Brazilian mining association makes ESG practices a priority

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The new leadership of the Brazilian mining association Ibram will make it a priority to guide the mining industry towards better levels of sustainability in order to improve public and investor perception of the industry.

“We develop [ESG] initiatives, setting goals. We cannot think about the present and the future without considering sustainability aspects. The mining sector has sought to move forward and position itself on these issues,” IBM Chairman Raul Jungmann said in a statement.

Jungmann, who took over as head of Ibrahim earlier this year, held a meeting with association members to outline his program. IBRAM has more than 120 members, including mining companies responsible for more than 85% of the country’s mining production.

“ESG is a very important issue from the point of view of companies, project financiers, investors and insurance companies, and the mining sector is undoubtedly the sector most exposed to the risks associated with [ESG] practices,” the executive of a global insurance and reinsurance brokerage told BNamericas, on condition of anonymity.

“The mining sector is a sector that not only requires constant improvement in ESG practices, but also requires continuous monitoring of these practices,” the source added.

Jungmann said he was invited by Ignacio Ybáñez, European Union Ambassador to Brazil, to lead a presentation for other EU ambassadors on the Brazilian mining sector’s commitments to sustainability and the crisis. climate change, among other topics.

“It will be April 26. A great opportunity for the Brazilian mining industry to speak directly about these global agendas to all of Europe,” he said.

ESG practices have come to the fore in Brazil, which has experienced two major disasters in recent years due to the collapse of tailings dams, causing massive environmental damage and loss of life.

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Andrew B. Reiter