On Monday, the London Metal Exchange (LME) said it is collaborating with producers and regulators to improve its ESG data platform that describes the sustainability credentials of its traded metals. This was one of the outcomes of the LME week, a yearly gathering of the worldwide metals’ community in London.
LME engages global collaboration to improve its ESG data platform
Known as LMEpassport, the platform in question is the digital information register that details the sustainability of metals traded on this exchange. To date, it lists 466 disclosures from 219 brands, including copper, aluminium, zinc, and lead.
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In 2021, when LMEpassport launched, it contained only 22 entries. The LME chief sustainability officer, Georgina Hallet, said:
ESG data transparency and comparability are vital components in addressing industry-level sustainability challenges. We’re delighted that already more than 50% of LME-listed brands are now sharing sustainability credentials on LMEpassport and we’ve recently added 12 new sets of certifications, metrics and standards against which producers are able to disclose. Galvanising our industry to advance the global sustainability agenda is a core part of the LME’s strategic focus and we look forward to further collaborating with our industry partners.
LME collaborations in this regard included Sweden’s Boliden, the China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters, the Cobalt Institute, and the Global Reporting Initiative. Sven Hjelmstedt, the Boliden director of sales, added:
The green transition begins with green metals and the LMEpassport provides us with a comprehensive picture of the sustainability performance directly linked to our LME brands. We are welcoming additional data transparency, enabling us to add commitments and targets as we aim to lead the industry’s transition.
