The Euromines Position Paper regarding the establishing the framework to facilitate sustainable investment (EU Taxonomy) is now available.
As the recognized representative of the European metals and minerals mining industry, Euromines welcomes the Commission’s Sustainable Finance Action Plan for a greener and cleaner economy and agrees that a socio – economically efficient, sustainable and flexible financial system is essential for long-term value creation.
The European mining industry plays a critical role in underpinning economic growth. The development of mineral resources is a pillar for many national economies, in terms of contribution to gross domestic product, foreign direct investment, tax & royalty revenues as well as other governmental revenues. Even more, the mining industry produces more than 42 different metals and minerals and employs 350.000 people directly and about 4 times as many indirectly. Modern extraction and processing of minerals and metals has brought huge benefits to society while reducing pressures on the environment, addressing green-house gas emissions, tackling pollution, minimising waste and improving efficiency in the use of natural resources. Even more, the mineral industry will continue to enable downstream sectors to realise all these improvements.