LONDON (Reuters) -A group of investors in mining called on Monday for the creation of an independent agency for the sector modelled after the International Energy Agency.
The group of investors, which together manage or advise on $18 trillion of assets, said the new International Minerals Agency would be able to monitor global mineral supply and demand as well as illegal flows, a statement said.
The agency would also provide data about which companies are progressing toward global performance standards on sustainability, it added.
The group of investors – the Global Investor Commission on Mining 2030 – includes PIMCO, ING, L&G, Allianz Investment Management, Church of England Pension Fund and Royal London Asset Management.
It released a report in Sao Paulo, aiming to provide a 10-year blueprint for a responsible mining sector, ahead of United Nations climate negotiations, having met with President Luiz Inacio Lula da Silva of Brazil.
“The Commission’s vision offers a roadmap for investors to unlock value by promoting sustainability and improving public perception,” said Peter Kindt, global head transition accelerator at ING.
“Achieving this will require multi-stakeholder collaboration and new initiatives like an International Minerals Agency.”
(Reporting by Eric Onstad in LondonEditing by Matthew Lewis)
