PGM miners and fabricators have gathered under the umbrella of the IPA to set down a framework of sustainability principles.
We commit to:
- Improving our understanding of the environmental, social and economic impacts and benefits of our materials across their life cycle;
- Working with suppliers, customers and other actors along the Platinum Group Metals (PGM) value chain to develop proactive solutions that address risks, and realize opportunities that contribute to sustainable development; and
- Communicating on our activities, and engaging with stakeholders to better understand their expectations and to inform them of our progress.
Like all materials, the development and use of PGM have impacts on the environment and the economy. PGMs also have unique properties that have significant benefits for the environment and society. These benefits include auto-catalysts that reduce emissions from gasoline and diesel engines, improving energy efficiency of industrial processes, and enhancing medical technology to improve health care.
In addition to our members' individual sustainability initiatives, IPA Members have agreed to pursue the following industry-wide principles in order to optimize the benefits of PGMs and reduce their impacts:
• Sustainability Leadership
We will pursue leadership in adopting environmentally, socially and financially responsible business practices, integrating sustainability considerations into corporate level decision making and encouraging continual improvement.
• Ethical business practices
We will conduct business with employees, suppliers and customers in an ethical manner and uphold respect for the people and communities in which we operate.
We will demonstrate, and pursue through research and development, applications of PGMs that contribute to sustainable development.
• Life cycle approach
We will collaborate with suppliers, customers and other stakeholders to understand the life cycle impacts of our materials and products. We will also contribute to a global database of life cycle information and support users of our materials in documenting their benefits and impacts.
• Stakeholder engagement
We will engage stakeholders in constructive dialogue in order to understand their expectations of IPA and its members with respect to sustainable business practices.