The World Gold Council and its members recognise that climate change imposes very substantial risks to the global economy and socio-economic development. Policy makers, industry stakeholders, asset owners, investors and wider society, are now eager for a greater understanding of these risks and their potential consequences, and how these might be mitigated or managed in future. To contribute to a clearer, more consistent appreciation of how climate-related risks (and opportunities) might impact the future prospects of the gold industry, we have undertaken research in 2018 and 2019. In 2018, we released a report Gold and Climate change: An Introduction. This report was an initial step to build understanding of the gold industry’s greenhouse gas emissions (GHG) footprint, the efforts already underway to reduce emissions and gold’s role in improving energy efficiency and developing low carbon technologies.
To build on this report we released Gold and Climate Change: Current and Future Impacts in 2019. We believe that the new analysis in this report offers a comprehensive overview of the current status of gold’s climate impacts and how the sector might adapt in the face of climate change in order to transition to a net zero carbon future. We have also examined how gold’s role as an investment asset might be affected by climate-related physical and transition risks in comparison to the other mainstream investments.