WGC Says Gold Industry Following Ongoing Climate Discussions

The World Gold Council has revealed that the global gold-mining sector is actively following the ongoing climate change discussions. Climate change is a critical global issue that calls for sustained collaboration between different key industries before any meaningful change can occur.

Some industries have undoubtedly played a greater role in proliferating greenhouse gas emissions and will be key to reducing global emissions and advancing the fight against climate change. Sectors such as coal, oil and transportation are responsible for a significant portion of global emissions, and many players in these sectors are working to cut their emissions.

Fossil-fuel production companies have been encouraged to wind down fossil-fuel production in favor of renewable alternatives, and many countries are keen on electrifying their transport networks over the next few decades. Speaking at a recent interview, WGC director of market relations and climate change John Mulligan says that the gold=mining industry is already taking steps to deal with the climate-change crisis. Mulligan said that in many cases, mining firms companies been at the forefront of adopting sustainability objectives and higher performance standards regarding social and environmental issues.

Mulligan briefly talked about the Responsible Gold Mining Principles, a set of 51 principles that outline a variety of environmental, social and governance (ESG) issues within the global gold mining industry. Some gold miners have been especially proactive at decarbonizing their mining operations, Mulligan said, and are often referred to as “first movers” because they often adopt such policies long before their respective governments pass similar ecofriendly regulations and policies.

Mulligan noted that most forward-looking or major mining companies are increasingly incorporating sustainable and responsible business practices into their core business and operational strategies. On top of keeping them in line with government regulations, these sustainability policies are good for business because higher corporate performance on ESG issues is generally associated with more robust company valuations and greater resilience.

Given that many gold miners often operate in places where governments may not have the political will or capacity to push for positive environmental policies, Mulligan says, some of them are taking the initiative themselves. This involves being mindful of how their actions affect local communities as well as recognizing how sustainable policies can present opportunities for local socio-economic development.

Climate-focused policies can also be beneficial for gold mining companies as the pursuit of new technologies and renewable sources of energy often results in greater energy efficiency, major carbon emission reductions and significant cost savings. These benefits are particularly crucial for exploration and mine-development enterprises such as Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) that have to show their stakeholders that every penny invested is being put to optimal use.

NOTE TO INVESTORS: The latest news and updates relating to Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) are available in the company’s newsroom at http://ibn.fm/ELRRF

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