World Gold Council members commit to TCFD reporting

The World Gold Council (WGC) has announced that its members, 33 of the world’s most forward-thinking gold miners, have committed to reporting their positions and progress on climate-related risks in line with their commendations of Taskforce for Climate-related Financial Disclosures (TCFD), according to a press release from the Council. 
The TCFD recommendations and reporting framework is now widely recognised as the preferred method for embedding climate change into the governance, strategy and risk management systems of organisations, and how they disclose comprehensive and high-quality information on these factors to investors and stakeholders. 
This unified approach on climate-related reporting further clarifies the commitments already embedded in the World Gold Council’s Responsible Gold Mining Principles (RGMPs) which require companies to take action to combat climate change and report in line with accepted standards.
Randy Smallwood, Chair of the World Gold Council commented: “I am delighted that the World Gold Council membership has unanimously agreed to adopt TCFD reporting. Making progress on climate change is a vital aspect of the gold mining sector’s commitment to responsible mining.”
Terry Heymann, Chief Financial Officer at the World Gold Council, said: “Through our research, we have been able to gather substantial evidence that the gold mining sector is in a strong position to reduce emissions in line with Paris Agreement targets. There is still much work to be done to reduce the emissions generated by our industry, but we are making good progress. Having our member companies commit to reporting via TCFD will help further demonstrate the industry’s determination to address climate-related risks and report on its progress clearly and transparently.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished