LME Issues Discussion Paper on Sustainability Plans

SEATTLE (LME):  The London Metal Exchange (LME) today issued a discussion paper on plans to drive forward its sustainability agenda.

Building on the work already undertaken in embedding responsible sourcing standards into its brand listing requirements, the LME believes now is the right time to expand its focus to incorporate the broader sustainability challenges facing the metals and mining industries.

The LME has laid out its proposed way forward to make metals the cornerstone of a sustainable future, following three core principles: maintaining a broad scope; supporting voluntary disclosure of data; and providing the necessary tools for change. These principles reflect the LME’s belief that the market has not yet fully coalesced around a centralised set of demands or priorities in respect of sustainability. As a result, the LME aims to build consensus through market-led and voluntary transparency, providing a number of tools and services to facilitate solutions related to sustainability in its most expansive sense.

Matthew Chamberlain, LME Chief Executive, commented: “Metals are vital to our transition to a more sustainable future – and this paper sets out our vision to work collaboratively with industry to maximise the potential of metals to power this transition. We already provide access to contracts that are essential both to burgeoning industries such as EVs and to infrastructure supporting the circular economy. But we need to do more, both in building out these areas and in supporting the development of the sustainable production of metals. And we are in a strong position – as the global nexus of metals pricing and trading – to bring the industry together, as with our responsible sourcing initiative, in our collective journey to a greener future.”

Courtesy: www.lme.com