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Biodiversity, Finance and Mining: Understanding the Link

October 11, 2023

Millani & The Mining Association of Canada
ESG, Disclosure

What is biodiversity and why does it matter? The Mining Association of Canada (MAC) and Millani's recent collaborative report helps explore these questions in the context of the mining sector and capital markets, explain related regulations, and provide insights on what biodiversity means for issuers and what investors are looking for when it comes to related disclosures.
This report is the outcome of Biodiversity, Finance and Mining: Understanding the Link, a conference and roundtable session which took place in June 2023.
Biodiversity, Finance and Mining: Understanding the Link
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Since CIRI's last Backgrounder on this topic in February 2025, the pace of new developments in the area of ESG standards and regulatory disclosure has slowed. The most significant development has been the cessation of all progress by the U.S. Securities and Exchange Commission toward the development of climate disclosure rules for listed companies.
Millani's eleventh Semi-Annual ESG Sentiment Study of Canadian Institutional Investors finds that current pushback on ESG is less a retreat than a pause, with uncertainty eroding disclosure quality, trust, and ultimately increasing the cost of capital.