International Council on Mining and Metals Sustainable Development Framework (ICMM)

Abstract

There has been growing recognition on the part of the mining companies that the status quo has become untenable. Mining companies around the world are being confronted with protests and demonstrations that often turn violent and lead to loss of human life, damage to property, and disruption in production operations. At the same time, they are being subjected to lawsuits in their home countries with potential damage awards in the billions of dollars.

This chapter is a revised, updated, and expanded version of two earlier papers by the authors: S.P. Sethi, “The Effectiveness of Industry-Based Codes in Serving Public Interest: The Case of International Council on Mining and Metals,” Transnational Corporations (United Nations Conference on Trade and Development, Geneva, Switzerland), vol. 14, no. 3 (2005), pp. 55–99; and S.P. Sethi and O. Emelianova, “A Failed Strategy of Using Voluntary Codes of Conduct by the Global Mining Industry,” Corporate Governance: The International Journal of Business and Society, vol. 6 no. 3 ( 2006), pp. 226–238. Additional research support for the current chapter was provided by Suparna Ray and is gratefully acknowledged.