LBMA Responsible Gold Guidance
LBMA’s Responsible Sourcing Programme (the Programme) protects the integrity of the global supply chain for the wholesale precious metals markets. It was set up to consolidate, strengthen and formalise the existing standards of the LBMA Good Delivery Refiners’ due diligence practices. LBMA was actively involved in drafting the OECD Due Diligence Guidance and its Gold Supplement and continues to support the OECD’s work in supply chain due diligence and related projects. The LBMA Responsible Gold Guidance (RGG) has been in force since 2012 and in line with the evolution of best practices and standards for responsible sourcing.
Vital to the credibility of the LBMA Programme is its broad scope, which includes measures to combat money laundering, terrorist financing and human rights abuses globally. In addition, the Programme has also been developed to recognise the increasing importance of strong Environmental, Social and Governance (ESG) responsibilities.
GRI 14: Mining Sector
The Mining Sector Standard has been approved for development by the Global Sustainability Standards Board (GSSB). The Standard is currently being developed by a multi-stakeholder expert Working Group, appointed by the GSSB.
It is proposed that the Standard for Mining will apply to organizations whose primary focus lies on:
Exploration and extraction, including quarrying, and primary processing of all types of minerals, metallic and non-metallic, except for oil, gas, and coal.
Support activities for mining, such as transport and storage.
Supply of specialized products and services to mining organizations, such as engineering, procurement, and construction (EPC) contractors.
The Standard will be required in addition to other applicable GRI reporting requirements.