The Chamber of Mines of the Philippines (COMP) announced in December 2017 that it will adopt the Towards Sustainable Mining® (TSM®) initiative, a mining sustainability standard developed by the Mining Association of Canada (MAC).
This is the first time that TSM has been adopted by a mining association in Southeast Asia. COMP is the fourth national mining association outside of Canada to adopt TSM in the span of fewer than two years, underscoring the program's growing global presence. The national mining associations of Finland (FinnMin), Argentina (Cámara Argentina de Empresarios Mineros), and Botswana (Botswana Chamber of Mines) are currently implementing TSM.
MAC and its members launched TSM in 2004. Implementation of the program is mandatory for all MAC members' Canadian operations, but many voluntarily apply it to their international sites. MAC freely shares TSM with other countries seeking tools to improve the environmental and social performance of their mining industries, including engagement with civil society and enhanced transparency and accountability.
TSM requires mining companies to annually assess their facilities' performance in key areas, including tailings management, community outreach, safety and health, biodiversity conservation, crisis management, and energy use and greenhouse gas emissions management. The results are freely available to the public and are externally-verified every three years to ensure what has been reported is accurate.
While COMP will tailor its performance areas so that they reflect the unique aspects of its domestic mining sector, they will strongly align with those of Canada's.
To ensure TSM reflects the expectations of civil society and industry stakeholders, it was designed and continues to be shaped by an independent, multi-interest advisory panel. As part of its implementation, COMP will implement a similar advisory body to provide this valuable oversight function.
Source: Market Insider
