ESG Club
PI Partnership – World Gold Council Sustainable development: interconnections and dependencies
For example, the issue of identifying threats to the availability and quality of water – vital for economic, social and environmental health – is
inextricably
connected to understanding climate trends and impacts. There are, of course, other non-climatic factors that will impact water systems and we need to be mindful of those too, but I doubt few climate or conservation practitioners view these as discrete or binary issues. Similarly, in seeking to protect and, in many cases, restore eco-systems and bio- diversity, there will be key factors needed to deliver progress that have no immedi- ate link to decarbonisation plans. But it is unlikely that these factors will remain
unaffected, at some level and over time, by climate impacts. Importantly, the interconnected nature of climate change and wider environmental vulnerabilities, and their possible social consequences, is increasingly recognised in conservation standards and guidance frameworks designed to enable a clearer, more integrated understanding of these overlapping relationships³. This greater awareness of the intersection of climate, water, and biodiversity chal- lenges is certainly evident from what I have witnessed of gold mining compa- nies, and other leading companies across the mining sector, as they seek to build greater knowledge and capacity in
addressing local vulnerabilities and iden- tify possible solutions to protect both eco- logical and social systems. It is also reflected in many of the discussions I’ve had with sustainable investment leaders. The rapid growth in the number of insti- tutional supporters of the Taskforce for Nature-related Financial Disclosures (TNFD) is indicative of this trend. That said, what we might take from this debate is the need to avoid narrowly- focused plans to combat climate change that might be harmful to nature and other sustainability objectives. Concurrently, we might also draw hope and inspiration from the many emerging opportunities to act – and invest – in ways that can make significant positive improvements across a range of ESG issues. But even as we broaden our appreciation of nature’s value and act in a more con- certed fashion to preserve our ecosys- tems, we must not slow or weaken our decarbonisation plans. Indeed, we must move faster, try harder and be braver in our actions.
1)
https://www.un.org/sustainabledevelopment/blog/2019/07/ sdg-progress-report-2019/ 2)
https://www.un.org/sustainabledevelopment/blog/2021/06/ tackling-biodiversity-climate-crises-together-and-their- combined-social-impacts/ 3) See, for example:
https://www.mdpi.com/2225- 1154/10/2/13/html
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