Gemfields Group Ltd: Most Responsible Natural Resources Leadership Global 2019
The Gemfields Group actively promotes transparent practices to radically transform the coloured gemstone industry, avowing that its primary objective is to positively impact communities while supporting African resource nationalism. The group recognises that today’s consumers are more informed and concerned about sustainable business practices and has taken steps to pre-emptively address sector-specific challenges. Gemfields is a pioneer of transparency and a proud corporate citizen who contributes significant revenue to local tax coffers. The group approaches mining operations from the perspective that the resources of the land belong to the indigenous people. As a custodian of precious African resources — rubies and emeralds — the group diligently fulfils its fiduciary duty to citizens with clear accounting of revenue streams. It challenges the mining industry to go beyond compliance by setting new benchmarks for sustainable business practices. It uses the UN Sustainable Development Goals as a framework to guide operations and aims to give back — to the communities and the environment — as much as it has taken. Before the start of any operation, Gemfields conducts comprehensive environmental impact assessments and builds a seed bank of indigenous biospecimens to contribute to the rehabilitation of mining lands. It provides university scholarships to local engineering and mining students, builds schools and health clinics, and improves utilities and transport infrastructure. It helped establish farming associations in Zambia and Mozambique that provide local communities with long-term livelihood projects. The CFI.co judging panel recognises the role the Gemfields Group plays in national economies and local communities with the 2019 Most Responsible Natural Resources Leadership (Global) award.
