Why Nature Is Demanding We Pay Attention

This therefore matters deeply to all sectors, all value chains, and all their stakeholders. Industries and markets need to better understand their relationship with nature - both the risks and vulnerabilities that may affect them and, also, their potential contributions to ecosystem protection, resilience and rehabilitation.

To understand this relationship as it relates to gold - and, specifically, gold mining where the impacts are likely most concentrated - we have spent the last year (with the research team from S&P Global Sustainable1) mapping out the sector's global 'nature risk profile'. The findings from our analysis are described in our new report (Gold, Nature and Biodiversity) which also details a range of practical responses and solutions implemented at or around gold mine locations.

It is often suggested that, unlike climate change mitigation - focused on the reduction of greenhouse gases - nature and biodiversity are far too complex to measure in a consistent way. But using a recently defined methodology (that, whilst still evolving, is already being presented as a solution to institutional investors and policy makers), we've been able to arrive at a detailed overview of sectoral impacts and vulnerabilities.

The overarching approach in our new report can be seen to mirror the approach we developed a few years ago when looking at physical climate impacts and local adaptation and resilience responses at and around gold mine sites. For a global risk overview, we need to adopt a robust methodology that can be applied to diverse sites and locations. But to understand what 'good practice' and practical solutions look like, we also need to focus on site-specific details and actions. Fortunately, mining company disclosures on these matters have evolved rapidly and, looking at our Member companies' outputs, we found a wealth of examples to explore in more detail.

We were, frankly, pleasantly surprised that there is already substantial evidence in company reporting on nature-related issues of a widespread commitment to transparency, good practice, protection and rehabilitation - not just minimising harm but actively restoring nature where possible. The report describes a wide range of WGC Member-led initiatives to protect a wide range of species - from buttercups to bats, from cacti to chimpanzees. Hearteningly, this often extends to locations well beyond the mine site, with many solutions seeking to address negative impacts not directly associated with mining operations or current activities. Acknowledgement of historical impacts - from mining but also from other economic activities - and a sensitivity to communities' relationships with local ecosystems were a feature of many reported initiatives.