By Gail Moss2021-01-26T16:11:00+00:00
The Church of England Pensions Board (CEPB) and the Council on Ethics of the Swedish National Pension Funds have led investors in setting a 2030 deadline for reforms to the mining sector.
The announcement came on the second anniversary of the Brumandinho disaster, when a tailings dam near a mine in south-east Brazil collapsed, killing 270 people, and creating a river of iron ore waste which contaminated the countryside.
The disaster prompted the formation of the Mining & Tailings Safety Initiative (MTSI), a group of over a hundred investors in the extractive industries with a total $20trn (€16.3trn) in assets under management, who seek to precipitate change within the sector via engagement with companies and affected communities.