Delivering on climate goals will require a rapid halt to deforestation, and reforestation and afforestation at scale. But it will also require a secure and sustainable supply of minerals and materials for green technologies and sustainable infrastructure. Many of these commodities are found in critical forest landscapes, placing forests at increased risk as demand for minerals increases. This paper explores the mining sector’s impacts on forests, and the potential for ‘forest-smart’ mining policies and practices to support deforestation-free mineral supply chains.
Abbreviations and acronyms
BRI: Belt and Road Initiative
CBRC: China Banking Regulatory Commission
CCCMC: China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters
CCICED: China Council for International Cooperation on Environment and Development
COMET: Coalition on Materials Emissions Transparency
CSBI: Cross-Sector Biodiversity Initiative
DRC: Democratic Republic of the Congo
ESG: environmental, social and governance
ESIA: environmental and social impact assessment
F4F: Finance 4 Forests
FCPF: Forest Carbon Partnership Facility
FREL: forest reference emission level
FRL: forest reference level
GHG: greenhouse gas
IETA: International Emissions Trading Association
IFC: International Finance Corporation
IPCC: Intergovernmental Panel on Climate Change
ITMO: internationally transferred mitigation obligation
LME: London Metal Exchange
MDB: multilateral development bank
MRV: measurement, reporting and verification
NDC: Nationally Determined Contribution
NGO: non-governmental organization
NYDF: New York Declaration on Forests
ODA: official development assistance
OECD: Organisation for Economic Co-operation and Development
PBC: People’s Bank of China
REDD+: reducing emissions from deforestation and forest degradation
SBTI: Science Based Targets initiative
SDG: Sustainable Development Goal
SIS: safeguards information system
SOE: state-owned enterprise
TCFD: Task Force on Climate-related Financial Disclosures
UNFCCC: United Nations Framework Convention on Climate Change
VCU: verified carbon unit