We encourage businesses to improve their resource efficiency and adopt sustainable practices along the value chain.
Green and circular economy
A circular economic model aims to reuse, refurbish and recycle products instead of solely taking virgin materials from the ground. In the case of extractive industries, circularity can mean repurposing byproducts, minimizing waste, including tailings, and modifying products down the line to reduce the need for virgin mining. This is crucial in combating climate change, reducing pollution and maintaining biodiversity.
UNEP works with small and medium-sized companies to promote the adoption of sustainable business practices and eco-innovation.
The Partnership for Action on Green Economy supports nations and regions in reframing economic policies and practices around sustainability to foster economic growth, create income and jobs, reduce poverty and inequality, and strengthen the ecological foundations of their economies.
Technology and innovation
The Climate and Clean Air Coalition’s in November 2020, UNEP, CCAC, European Commission, the Environmental Defense Fund and 62 oil and gas companies launched Oil and Gas Methane Partnership 2.0 (OGMP 2.0), a more ambitious and comprehensive iteration of the original 2014 reporting framework. The updated framework was designed to foster and encourage reporting directly connected to strategic action.
The OGMP 2.0 Reporting Framework provides public assurance that this important greenhouse gas is being managed responsibly. Companies that conform to this gold standard of reporting can credibly demonstrate that they are contributing to climate mitigation and delivering their methane improvement objectives and targets.
Please visit the OGMP 2.0 website for updated information and guidance documents.
Global Industry Standard on Tailings Management
The Global Industry Standard on Tailings Management (the Standard, 2020) co-convened by UNEP, Principles for Responsible Investment (PRI) and International Council on Mining and Metals (ICMM) established the first global standard on tailings management for existing and future tailings facilities. Strengthening current practices in the mining industry by integrating social, environmental, local economic and technical considerations, the Standard covers the entire tailings facility lifecycle – from site selection, design and construction, through management and monitoring, to closure and post-closure. Since 2020, the co-conveners are in the process of establishing an independent and multi-stakeholder institute which will oversee the effective implementation of the Standard.
Financing the responsible supply of minerals
The finance sector can play a key role in promoting responsible mining. The International Resource Panel will be launching (early Q4) the report ‘Financing the Responsible Supply of Energy Transition Minerals for Sustainable Development’. It will provide recommendations on how the financing of minerals production could be reformed to bring about sustainable production of these commodities, and the equitable distribution of the resulting financial and other economic and social benefits.
