Stewart Investors, a prominent player in sustainable investment and long-only equity management, has achieved a significant milestone by becoming the inaugural investment management firm to join the Initiative for Responsible Mining Assurance (IRMA). This membership underscores the firm’s commitment to promoting socially and environmentally responsible mining practices on a global scale.
A Diverse Coalition for Sustainable Mining
IRMA brings together a wide array of members, encompassing both civil society and corporate stakeholders from across the globe. The coalition features key players including Anglo American, Mercedes-Benz, Human Rights Watch, IndustriALL Global Union, the Batani Foundation, and Mining Affected Communities United in Action (MACUA). By joining IRMA, Stewart Investors aligns itself with nearly 100 other organisations dedicated to ensuring that the mining industry operates with respect for human rights and the welfare of affected communities.
A Vision for Responsible Mining Practices
The goal of IRMA is to foster a mining industry that prioritises human rights, ensures safe working conditions, mitigates environmental impacts, and contributes positively to the communities it touches. The inclusion of Stewart Investors as a member represents a significant step in achieving this vision.
Aligning with IRMA’s Mission
Commenting on this landmark decision, Chris McGoldrick, Senior Investment Analyst at Stewart Investors, stated, “We are proud to align ourselves with IRMA’s mission as its first investment manager member. Responsible sourcing of minerals is essential for companies and investors across all sectors. We view our membership as a unique opportunity to collaborate with IRMA and other stakeholders to drive meaningful change in the industry.”
Pioneering Responsible Mineral Sourcing
Stewart Investors began its journey in responsible mineral sourcing in 2020, prompted by discussions with various companies, especially within the electronics sector. This engagement led the firm to commission extensive research focused on conflict minerals within the semiconductor supply chain. Since then, Stewart Investors has partnered with over 30 companies on these matters and spearheaded a collaborative engagement effort with more than 160 investor supporters, collectively managing US$6.59 trillion in assets. This initiative aims to establish best practices in mineral due diligence and transparency.
An Invitation to Positive Change
Rebecca Burton, Deputy Director of the Initiative for Responsible Mining Assurance, remarked, “We are delighted to welcome Stewart Investors as the first investment manager in IRMA’s ranks. Their proactive leadership within the investment community reflects a growing recognition of the importance of responsible mining practices. This partnership signals that investors are joining consumer-facing brands in urging mining companies to adopt IRMA’s standards. We applaud their commitment to driving positive transformation in an industry critical to our shared future.”
The IRMA Framework Explained
IRMA operates on a tripartite model, consisting of a voluntary global mining standard that defines best practices for safeguarding people and the environment, an independent assurance process that evaluates mines against this standard, and an organisation focused on generating value for all parties involved in and affected by mining. IRMA’s governance framework is unique in that it empowers civil society and workers with equal authority alongside mining companies and other corporate stakeholders. This unique model enhances its credibility and offers significant advantages for the mines that undergo assessment.
The Role of Investment Managers in Responsible Mining
Investment managers play a pivotal role in IRMA’s membership structure. They have the ability to encourage mining companies to engage in the assessment process and can recommend that consumer-facing brands within their portfolios motivate their suppliers to adhere to responsible practices.
