Only one third of companies with tailings dams have adopted standards
Three years to the day since the Brumadinho dam disaster, the Church of England’s pensions board said on Tuesday it would vote against re-electing company heads of 183 mining companies who have not committed to a new global standard on tailings.
The pensions board said 79 mining and metals companies have signed onto the new Global Industry Standard for improving the safety of tailings dams worldwide.
This represents just one-third of companies with tailings dams, by market capitalisation. BHP, Anglo American, Glencore, Rio Tinto, and Vale have signed up to implement the standards.
The standards were developed by the pensions board, the Council of Ethics of the Swedish AP funds representing the Principles for Responsible Investment, the International Council on Mining & Metals, and the UN Environment Programme.
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