Metals are an essential enabler of a sustainable future, and as global demand for metals increases, so will the expectations on sustainable standards.
Within our own business and in the metals and mining industries more widely, we are committed to both driving and lending support to sustainability initiatives.
We believe we have a collective responsibility as an industry to drive meaningful change in this space. Working together, we can make metals the cornerstone of a sustainable future.
Our strategy aims to provide the metals industry with the option of gaining greater transparency of and access to sustainably produced metal – such as low carbon aluminium – as well as to metal that itself plays a significant role in global decarbonisation and the circular economy – such as EV materials and scrap metals.
“Metals are vital to our transition to a more sustainable future – and this paper sets out our vision to work collaboratively with industry to maximise the potential of metals to power this transition”
- LME Chief Executive, Matthew Chamberlain
Core principles of LME Sustainability
To support the metals and mining industries in the ongoing transition towards sustainability, we have adopted three core principles:
Overview of the LME’s sustainability strategy
The LME’s sustainability strategy hinges on providing metal market participants with the option for greater transparency and access in respect of sustainably produced metal and metal that itself plays a significant role in global decarbonisation and the circular economy.
The LME already provides risk management solutions for battery materials such as cobalt, nickel, and more recently, lithium, which support the creation of a more sustainable future. We have been working closely with the electric vehicle (EV) and battery industries to identify and develop further risk management solutions that are tailored to their requirements, which could increase transparency and access to such metals.
LMEpassport, which launched in August 2021, is a key element of the LME’s strategy to bring greater transparency to metals’ provenance data, including their sustainability credentials. LMEpassort is a centralised digital provenance register that enables users to provide disclosures related to metals’ sustainability characteristics on a voluntary basis.
Sustainability discussion paper 2020
In August 2020 we issued a discussion paper on LME Sustainability, setting out our vision, approach and plans in respect of expanding the vital role the metals and mining industries will play in transitioning to a sustainable future.
We then published our analysis of the broad market feedback which we received, together with the details of the steps we intend to take next.
Market engagement and external partnerships
WebinarsVisit our webinar section to listen to our suite of LME Sustainability webinars, featuring discussions with industry experts and key stakeholders. Our webinars on sustainability focus on the key areas covered in the discussion paper, including the sustainable production, the circular economy and electric vehicles.
Upcoming and new resources and webinars
We have launched a new sustainability newsletter, featuring updates on what's happening at the LME and around the metals community. We will share news from the metals industry and beyond on sustainability initiatives and other important issues.
LME – ASI memorandum of understanding
The London Metal Exchange (LME) and the Aluminium Stewardship Initiative (ASI) have developed a Memorandum of Understanding to underpin collaboration on responsible aluminium value chains.
Key areas of focus include:
- Use of ASI Certification to evidence aluminium brands’ compliance with LME responsible sourcing requirements which are centred on the OECD Due Diligence Guidance
- The potential use of ASI Certification, metrics and audits to support LME initiatives to bring together buyers and sellers interested in aluminium with sustainability assurance
- LME input into ASI monitoring and evaluation projects
- Other relationship-strengthening activities that can promote the shared values of both organisations.
If you have any questions or would like to discuss any matters relating to sustainability at the LME, please email sustainability@LME.com