Progress Made in Glencore's Tailings Management Disclosed

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Progress Made in Glencore’s Tailings Management Disclosed

Posted by: Baris Karapinar
Category: ESG News

Swiss-based Glencore has revealed its advancements in tailings management in alignment with global standards. The company played an active role in shaping the Global Industry Standard on Tailings Management (GISTM), introduced in 2020 by the International Council on Mining and Metals (ICMM), United Nations Environment Programme (UNEP), and Principles for Responsible Investment (PRI).

Aiming for transparency and responsibility, Glencore pledged adherence to the GISTM on August 5, 2020. The company now reports on the compliance of its tailing storage facilities (TSFs), specifically those with ‘Very High’ or ‘Extreme’ Consequence Classifications, following the ICMM timeline.

Notably, Glencore’s approach stands out through its rigorous application of the GISTM, going beyond self-assessment by involving independent third-party verification. This commitment marks a shift towards increased openness in managing these critical facilities.

Over the past three years, Glencore has initiated commendable measures, including establishing the Tailings Manager Academy, engaging in global Satellite (InSAR) monitoring, conducting engineering enhancements at various TSFs, and developing comprehensive action plans to bridge identified gaps. Independent assessments from Klohn Crippen Berger and third-party assurance from Acorn International further validate Glencore’s responsible practices.

With ongoing third-party assessments guiding their efforts, Glencore is resolute in addressing conformance gaps in TSFs categorized with ‘Very High’ and ‘Extreme’ Consequences. The company’s disclosure, accessible on its website, underscores transparency, featuring informative factsheets for 15 facilities, outlining compliance gaps and time-bound corrective actions. Additionally, Glencore’s register for ‘Low’, ‘Significant’, and ‘High’ Consequence TSFs reflects its continued commitment to responsible tailings management.

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