Country for PR: United Kingdom
Contributor: PR Newswire Europe
Wednesday, October 23 2019 - 17:00
New Report From the World Gold Council Points the Way for Gold Industry Resilience in the Face of Climate-related Risks
LONDON, Oct. 23, 2019, /PRNewswire-AsiaNet/ --

The World Gold Council today launched its 'Gold and Climate Change: Current and 
future impacts' report, aiming to provide investors and industry stakeholders 
with greater clarity around both gold's emission profile and the role that gold 
can play as a climate risk mitigation asset in long-term investment strategies. 

Building on the World Gold Council's initial work of 2018, the new report 
offers a more comprehensive overview of the current status of gold's climate 
impacts and how the sector, and gold mining in particular, might decarbonise, 
in line with the objectives of the Paris Agreement. 

In addition, the report examines how gold's role as an investment asset might 
be affected by climate-related physical and transition risks in comparison to 
other mainstream investments.

Key findings of the report include:

- Revised estimates of the emissions associated with both the production and 
consumption of gold represent a more accurate and comprehensive understanding 
of gold's greenhouse gas (GHG) intensity and carbon footprint, while broadly 
validating our 2018 work. In addition, the findings confirm that gold's 
downstream uses – as jewellery, bullion and in electronic products – have 
little material impact on gold's overall carbon footprint. 

- There are substantial opportunities for gold mining to decarbonise. 
Specifically, there are compelling reasons to believe that energy and fuel use 
in gold mine production can transition towards a net zero pathway in a 
practical and cost-effective manner. 

- Gold as an asset looks relatively robust in the context of climate-related 
physical and transition risks, particularly when viewed in comparison to most 
other mainstream assets. Gold's resilience is partially a reflection of the 
diverse drivers of demand which underpin the wider investment case for gold. 

- Taken together, these findings suggest gold may have an additional role to 
play as a climate risk mitigation asset in long-term investment strategies.
Dr Ben Caldecott, Director of the Oxford Sustainable Finance Programme and an 
Associate Professor at the University of Oxford, commented: "Investors all over 
the world, from large institutional investors to small millennial retail 
savers, have become increasingly aware of their portfolios' environmental 
footprints. The global challenge of transitioning to a negative carbon 
footprint poses a massive challenge but also opportunity and will reshape the 
value of assets and companies across sectors of the global economy. This new 
report by the World Gold Council maps out the key questions the gold industry 
needs to address now in order to achieve net zero but it also looks at gold 
playing a part of the solution. I welcome this report and look forward to 
seeing the gold industry's progress over the coming years."

Terry Heymann, Chief Financial Officer at the World Gold Council, commented: 
"We recognise that climate change imposes very substantial risks to the global 
economy. This new research demonstrates that gold has an important role to play 
in supporting the transition to a lower-carbon economy, both through 
decarbonisation efforts and as a compelling investment as investors look for 
resilient assets in their portfolios, which are less likely to be negatively 
impacted by the physical and transition risks associated with climate change."

The full report is available for download here 

You can follow the World Gold Council on Twitter at @goldcouncil 
[] and Like on Facebook 

Note to editors: 

World Gold Council 

The World Gold Council is the market development organisation for the gold 
industry. Our purpose is to stimulate and sustain demand for gold, provide 
industry leadership, and be the global authority on the gold market. 

We develop gold-backed solutions, services and products, based on authoritative 
market insight and we work with a range of partners to put our ideas into 
action. As a result, we create structural shifts in demand for gold across key 
market sectors. We provide insights into the international gold markets, 
helping people to understand the wealth preservation qualities of gold and its 
role in meeting the social and environmental needs of society. 

The membership of the World Gold Council includes the world's leading and most 
forward-thinking gold mining companies. 

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Source: World Gold Council