Forest-Smart Mining : Guidance to Applying Nature-Based Solutions in the Large-Scale Mining Sector (English)

Mining has a vital role to play in the development of a future, low-carbon economy. The Coronavirus (COVID-19) pandemic has caused an urgent demand for both economic recovery and an acceleration of the transition to a low-carbon, sustainable economy as defined by delivery of the Sustainable Development Goals (SDGs). The mining sector is one of the few sectors to have weathered the global pandemic relatively well. Mining in forests represents a particular challenge that is both poorly understood and rapidly growing. Nature-based solutions (NbS) represent an important tool for meeting environmental and social targets, particularly in forested landscapes. NbS are actions that use nature to address societal challenges through the conservation and protection, sustainable management, and/or restoration of natural or modified ecosystems. In parallel to the UN Climate Convention's net zero missions goal there is a global call for the world to become nature positive. The uptake of NbS within mining projects has been limited to date, but this could be set to change. Access to appropriate financing and funding for NbS is not yet obvious. This guidance introduces the concept of NbS, explores the business case, financing, and funding for NbS on mining projects, and outlines the steps required to implement NbS. The guidance is structured in five sections following the introduction: Section 2 introduces NbS, what they are, the sorts of problems NbS can help address, and the challenges for application; Section 3 considers the relevance and growing importance of NbS in mining projects and the potential for NbS to be part of the solution when addressing challenges common to mining projects; Section 4 guides mining companies, and more specifically their project development, commercial, and finance teams, in understanding the wide range of financing and delivery options for implementing NbS, with a focus on third-party financing and funding; Section 5 focuses on innovative financing solutions for NbS, considering the various objectives that different potential sources of finance might have; and Section 6 looks at the integration of NbS into mining projects. Using the main criteria of the International Union for Conservation of Nature and Natural Resources (IUCN) Global Standard for NbS, this section outlines the main considerations required to apply NbS associated with a mining project.