Public Policy And Issues
WGC seeking input for ethical gold standard
London--The World Gold Council (WGC) has unveiled its latest draft of the conflict-free gold standard, which aims to create absolute trust that the gold produced under its guidelines does not fuel armed conflict, fund armed groups or contribute to human rights abuses.
The standard is underpinned by a declaration of principles that include commitments to certain behaviors, such as respecting human rights and ensuring payments are not made, directly or indirectly, to illegal armed groups.
“Responsible gold mining is an important contributor to both economic growth and social development in gold-producing countries,” Ian Telfer, chairman of the WGC and Goldcorp, said. “We believe that, where it is responsibly undertaken, gold mining and its related activities can play a crucial role in achieving sustainable development and alleviating poverty in developing countries.”
Telfer added responsible mining also contributes to sustained growth in developed countries.
The WGC received input from a wide range of stakeholders following the publication of a first draft in June 2011, including non-governmental organizations, governments, investors and media. This most recent “exposure draft” allows for further comment from interested parties by June 30, before the final version is published.
The WGC exposure draft can be viewed here, as well as contact information for the WGC.