Biodiversity Impact Accounting for Mining
Biodiversity impacts and risk continue to gain prominence in ESG reporting for the mining sector. Surface disturbance during operations and the use of certain reclamation methods can directly impact biodiversity, making it a material topic for all mining companies.
A long-standing challenge facing mining companies has been the lack of a standard approach for measuring and reporting biodiversity gains and losses and the effectiveness of their biodiversity impact management programs and policies.
KC Harvey has a solution — Biodiversity Impact Accounting.
How We Do It
Using the Biological Diversity Protocol methodology, we assist our mining clients as they advance from basic biodiversity risk screening during project planning and development to site-specific biodiversity impact assessment during construction, operations, reclamation, and closure. Using our recommended methodology, KC Harvey’s ecologists and natural resource specialists perform field work, GIS analysis, and scientific review of existing reports and reclamation plans to develop a customized biodiversity impact inventory based on ecosystems and key species.
We analyze this information using standard accounting principles to determine the current biodiversity impacts and biodiversity gains and losses over time. We present results in a standardized format that is suitable for internal or external reporting. We also identify potential risks and provide recommendations for achieving local, national, and global biodiversity goals. Biodiversity impacts can be assessed for a single operation or for multiple operations if companies are reporting at the regional or corporate level.
After an initial Biodiversity Impact Accounting assessment is completed, the mining company has a basis for setting targets and measuring progress towards biodiversity goals. A range of biodiversity management approaches can be compared to identify actions with greater positive biodiversity impacts or appropriate mitigation strategies. Biodiversity Impact Accounting is also a valuable planning tool for comparing impacts of potential acquisitions or developments on biodiversity.
KC Harvey recently completed a Biodiversity Impact Accounting assessment for Sibanye-Stillwater’s Platinum Group Metals Operations based in Montana, USA. This work is part of an ongoing effort to manage and disclose biodiversity-related metrics across Sibanye-Stillwater’s global operations.
Our services support voluntary ESG reporting and meet the requirements of the ESG reporting frameworks widely used in the mining sector, including the standards developed by the following:
- Global Reporting Initiative
- Sustainability Accounting Standards Board
- International Finance Corporation
- International Council on Mining & Metals
- Mining Association of Canada - Towards Sustainable Mining
Let KC Harvey assist you in evaluating your company’s biodiversity impacts, measuring progress towards biodiversity goals, and developing ESG reporting metrics for biodiversity that serve your company’s needs along with stakeholder expectations.