With climate change and global warming being actual threats to humanity, the world is now seeing a shift towards greener initiatives. And even in business, it can be a great opportunity to invest in the green economy. And you can be surprised by the number of green power investments available.
However, it seems that mining has become an investment that is overlooked. While mining may not be the first thing you think about when it comes to the green economy, it actually plays a critical role in sustainability. The key is green mining.
What Is Green Mining?
When it comes to environmental pursuits, mining is probably low on most people’s lists. That’s because mining has had a bad reputation of ruining the environment. With irresponsible mining comes deforestation, soil and groundwater pollution, landslides, and loss of biodiversity, all of which significantly damage the environment. So, with all of this and more, why is mining a good green power investment?
Well, since people have become aware of the negative impact mining has on the environment, efforts have been made to improve mining practices. This is essentially what green mining or environmental mining is. It involves the best mining practices, processes, and technology that are meant to reduce the environmental impact attached to the extraction and processing of minerals and metals.
Environmental Mining in Canada
To be more specific, let’s take a look at the green mining situation in Canada. The ability of the Canadian mining industry to enact green mining and seize investment opportunities relies heavily on their adoption of ESG values.
To those unfamiliar with the term, ESG stands for Environmental, Social, and Governance. These are non-financial factors investors include in their decision-making to identify the risks and growth opportunities of their investments.
According to a poll by KPMG, 42 percent of Canadian mining companies find the social element of ESG a big concern. And environmental risk seems to be less of a concern at just 19 percent. This is much lower than the 27 percent average globally.
However, the increasing demand for clean energy is pushing the Canadian mining industry towards environmental mining. With metals such as nickel, cobalt, and lithium needed across the world, the Canadian mining industry sees much growth in the future. Canadian miners also play a significant role in the production of minerals needed for other green industries, such as solar, wind, and geothermal power.
With this greater demand and the current state of the environment, many miners across the globe are actively seeking green mining initiatives. This includes the deployment of environmental technology and innovations that can hopefully promote responsible mining and reduce mining waste. In fact, the Canadian Green Energy initiative has encouraged the use of hybrid diesel-electric loaders in mines, which can significantly reduce poisonous gas emissions to 40 to 70 percent.
With the growing demand for minerals, the Canadian mining industry seems to be a great green investment opportunity. And while the environmental impact of mining is indeed a concern for investors, many Canadian miners are actively pursuing green mining initiatives. With environmental mining, we can still gain the minerals we need while working hard to reduce our overall impact on the environment.
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