The role of Central Banks in supporting due diligence and raising ESG standards amongst artisanal and small-scale gold miners (ASGM)
Apr 25, 2023 | 12:30 PM - 2:00 PMPartner session - Room CC20
Apr 25, 2023 | 12:30 PM - 2:00 PM
Partner session - Room CC20
Description
Organised by: World Gold Council
The session will build on a World Gold Council (WGC) report on how Central Banks can use ASGM domestic purchase programmes, designed to build gold reserves, to leverage wider policy objectives such as promoting formalisation, supporting due diligence, reducing the use of mercury, and improving safety and environmental standards. The WGC is convening a new study group to facilitate the sharing of good practices between central banks on: improving co-ordination between government agencies; creating a better understanding of the incentives that encourage formalisation; increasing ASGM access to clean finance and reducing illicit flows. The panel will feature case studies from central banks and the World Bank. It is hoped that the initiative will significantly reduce the vulnerability of ASGM groups and boost the proportion of ASGM production that can satisfy due diligence expectations. Speakers will include the Central Banks of Ecuador, Mongolia and Philippines and the World Bank.
