Regulator calls mining industry push for sustainability ‘transformative’ – BusinessWorld Online
MINES and Geosciences Bureau (MGB) Director Michael V. Cabalda said the mining industry’s sustainability efforts have been “transformative,” after a significant number of companies were recognized for their improved practices.
The Chamber of Mines of the Philippines’ (CoMP) Towards Sustainable Mining (TSM) initiative is “one of the most important transformative initiatives we’ve seen in recent years,” Mr. Cabalda said.
TSM, adopted in 2017, recognizes members of the industry who adhere to global best practices in mining, with 21 CoMP members having been recognized.
TSM National Coordinator Rocky G. Dimaculangan rejected allegations that the program amounts to “greenwashing,” noting that assessments are verified by external partners and that its findings are made available to the public.
Maria Karla L. Espinosa, a director with the Department of Finance (DoF) focusing on the extractive industries, said she hopes to open up the program to allow non-CoMP members to be evaluated for the award.
Ms. Espinosa added that companies can be “raise the bar for stewardship” for sustainability to inform and improve public policy, including tax measures.
“TSM if fully and broadly implemented, can support the government’s efforts to improve sustainability” she said. — Andre Christopher H. Alampay
