Dr. Chibamba Emphasizes Need for Robust ESG Framework in Mining and Manufacturing
Dr. Douty Chibamba, Permanent Secretary of the Ministry of Green Economy and Environment, underscores the importance of establishing a robust Environmental, Social, and Governance (ESG) framework to guide mining and manufacturing companies in their operations.
Speaking at the EU-Zambia Business Forum Panel Discussion on ESG Requirements, Dr. Chibamba highlighted the dominant role of mining in Zambia’s economy, contributing significantly to GDP, foreign exchange earnings, government revenue, and formal employment.
As global demand for critical minerals such as copper, cobalt, lithium, manganese, and nickel continues to rise, Dr. Chibamba stressed the necessity for stringent policies and operational procedures to mitigate adverse environmental, social, and governance impacts associated with mining and manufacturing activities.
Acknowledging Zambia’s ambitious goal to increase annual copper production to 3 metric tonnes by 2030, Dr. Chibamba emphasized the importance of balancing economic growth with environmental sustainability.
He outlined the Ministry’s efforts to foster sustainable mining practices through legal and legislative frameworks, including the Environmental Management Act and Environmental Impact Assessment Regulations.
The Green Growth Strategy further promotes resource-efficient extraction technologies and cleaner production practices, aligning with global energy transitions and sustainable development goals.
Dr. Chibamba emphasized the role of ESG in enhancing transparency, trust, and access to financial markets for mining and manufacturing companies.
Responding to queries on Zambia’s attractiveness to international investment, Dr. Chibamba highlighted political will, policy frameworks, and institutional frameworks as key conducive environments.
However, he acknowledged the challenge of balancing increased mining output with sustainable environmental management, a common concern among mining countries.
In conclusion, Dr. Chibamba reiterated the importance of integrating ESG principles into mining and manufacturing operations to support sustainable development, economic growth, and inclusive prosperity in Zambia.
