The London Metal Exchange (LME) is pleased to announce the first sustainability disclosures registered on its newly launched digital credentials register, LMEpassport.
As of today, 12 October, nine producers have listed disclosures under the LME’s sustainability taxonomy, which covers environmental, social and governance spheres designed to ensure that all aspects of the sustainability world – and crucially, the ways in which LME-listed brands have moved to address them – can be reflected.
Georgina Hallett, the LME’s Chief Sustainability Officer, commented: “We’re delighted to see key members of the metals community taking the opportunity to provide greater visibility of their sustainability credentials. Transparency can help facilitate meaningful progress in important target areas and we’re pleased to support our brands in their vital work to drive the sustainability agenda across all base metals”.
For the launch today, the LME has approved a limited set of possible disclosures, but looks forward to working with its listed brands and standards / certification organisations to expand this set to ensure that brands are able to provide transparency across all their sustainability work. By doing so, they are responding to growing consumer demand for transparency in respect of ESG standards at all levels.
The LME’s sustainability work started with the introduction of a comprehensive set of responsible sourcing requirements to ensure all metal delivered across the LME has gone through a robust process of identifying and addressing human rights risks. However, the LME is conscious of the need for progress in sustainability across a much broader range of issues, and the launch of sustainability disclosures in LMEpassport marks a key step for the LME in addressing this need. Carbon footprint is just one of several such areas captured in the sustainability taxonomy, and which is central to collective efforts to reduce carbon emissions, as set out in the Paris Agreement.
The LME is delighted that the following companies have disclosed sustainability certifications and metrics, and looks forward to working further with its listed brands.• Anglo American Platinum
Peter Whitcutt, CEO Marketing, Anglo American: “We welcome LMEpassport as a way of highlighting not only the quality of our products but also our sustainability credentials, contributing to greater transparency across the entire industry. We look forward to continuing to work with the LME to further demonstrate our commitment to responsible sourcing through future disclosures, such as ongoing independent third party assurance of all our mines against recognised standards.”• Antofagasta plc
Iván Arriagada, CEO, Antofagasta plc: “Sustainability and transparency are at the core of everything we do so we are pleased to join the LMEpassport sustainability disclosure platform. By publicly reporting our ESG credentials, reporting progress on implementation of the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and by obtaining recognised third-party assurance of the highest international sustainability standards like the Copper Mark, our stakeholders can see how we progress towards our targets. We are committed to mining responsibly and sustainably to create a better future for all.”• Boliden
Mikael Staffas, Group CEO, Boliden: “Our ambition is to be the most climate friendly and respected metal provider in the world and we are happy to contribute to sustainability improvements in our sector as base metals play a crucial role in the transition away from fossil fuels in society.”• CBA – Companhia Brasileira de Alumínio
Ricardo Carvalho, CEO, CBA: “We welcome the LMEpassport initiative, which mirrors CBA’s focus on ESG throughout the whole value chain. As one of the lowest carbon aluminium producers globally, CBA is committed to a sustainable world, fostering aluminium as the metal of choice for a greener future.”• Freeport-McMoRan, Inc.
Andrea Vaccari, Director Responsible Production Frameworks & Sustainability, Freeport-McMoRan, Inc.: “We are pleased that the LME’s Digital Passport system will begin associating our brands with our third-party responsible production certifications. We believe such a system will help advance transparency in the market.”• RUSAL
Steve Hodgson, Director of Sales and Marketing, RUSAL: “We congratulate the LME on the launch of LMEpassport and we are pleased to have supported its development through the LMEpassport advisory group. RUSAL has long been committed to transparency in reporting of sustainability credentials and we see this as a positive step in providing consumers and investors alike an informed choice as to the products they purchase and consume, meeting their own corporate goals.”• Teck Resources Limited
Marcia Smith, Senior Vice President, Sustainability and External Affairs, Teck: “At Teck, we are committed to producing the essential metals and minerals that the world needs in an environmentally and socially responsible manner. The LMEpassport will further enhance transparency in the metals and minerals supply chain and strengthen consumer confidence.”• Thailand Smelting and Refining Co., Ltd (Thaisarco)
Andrew Davies, Managing Director, Thaisarco: “We are extremely pleased to participate in the LME Passport program, continuing to improve ESG and transparency in the metals industry.”• Zhejiang Huayou Cobalt Co., Ltd
CHEN Hongliang, Company President, Huayou Cobalt: “We congratulate the newly launched program of LMEpassport, and we believe it can enhance customer confidence in the market. Huayou Cobalt is pleased to participate in LMEpassport by voluntarily reporting sustainability credentials and we are dedicated to further improving our ESG disclosures.”
Sustainability disclosures on LMEpassport are publically displayed on the LME’s sustainability webpage.