Green Mining in Latin America and the Caribbean: Comparative Analysis of Public Policies and Industry Standards to Promote Sustainability in Mining

Mining is a vital sector in numerous economies of Latin America and the Caribbean (LAC) as an important source of income and investments, an important generator of direct and indirect jobs, and a lever for innovations and chains. At the same time, its poor management can result in negative impacts on the environment and local communities. Enhancing the positive impacts of mining in LAC then implies addressing the challenges that exist for public policy and the development of the industry. This research by the IDB examines various good practices and international standards of the mining industry as references to review the existing policies and regulations in Brazil, Chile, Colombia and Peru on social, environmental and governance sustainability of the mining sector in LAC. This comparative analysis revealed spaces where the regulations are less demanding or ambitious than industry standards and we consider those spaces as opportunities for improvement. Based on the evaluation, this work presents a proposal for a regional road map that identifies interventions to be taken in order to close gaps between local or national standards and the global standards of the mining industry.