APEC Sustainable Mining: Can Investments and Sustainable Developments happen in tandem?

About a week ago, the fourth meeting of APEC Ministers responsible for Mining was held in Russia.There was consent amongst the participating countries of the increasing importance of sustainable development in mining. Other issues brought up included  increasing social responsibility, innovations and Investments. 

What is the significance of this ? Obviously, there is a need to alter our business structures in a way that directly and sincerely addresses the issue of environment and sustainability. It’s time to get serious- social responsibility is increasing in its importance and is becoming today more of a criteria than something we can choose to address.

Another thing that caught my attention is the issue of investments. Yes, we all know and recognize the value of investments. But what value does it have in the context of sustainable development?

In countries such as Indonesia and Philippines, it is imperative to pay attention to and adapt to the economic and social situations of the country. Economic disasters, social unrest, protests- all these upset the possible flow of investment into a country that might need it, ultimately curbing the potential that investments might offer to developing the country and the industry. Investments have the power to nurture and grow sustainable development, which requires no small effort nor investments. Innovations, education, and so on- these require copious amounts of money.

So besides being vigilant, how does a country create an attractive investment climate? This issue was discussed by APEC Ministers Responsible for Mining. Governments will need to make an effort to improve living standards. Resource management is crucial to the initiative as well, as well as steps to boost regulatory efficiency and mitigate the environmental impact of the industry.

Ultimately, will making an effort to reach out to the society also help? Bridging the gap between the public and industry to strengthen ties may be the step needed to attract investors, as well as continued communications between all stakeholders.