Source · Select Committees · Business and Trade Committee
Recommendation 11
11
Accepted
Paragraph: 52
Detail how the UK Battery Strategy will promote robust ESG standards across the battery industry.
Recommendation
The UK Battery Strategy should set out how the Government plans to promote robust environmental, social and governance standards across the battery industry domestically and globally to promote transparency and a green and clean battery supply.
Government Response Summary
The government states it promotes ESG standards through the Critical Minerals Strategy by leveraging the UK's position in responsible mining finance, ensuring domestic compliance, encouraging global frameworks, and actively collaborating internationally. It also highlights specific funding for recycling and reuse initiatives to support a circular economy.
Paragraph Reference:
52
Government Response
Accepted
HM Government
Accepted
A) As set out in the Critical Minerals Strategy, the Government is leveraging the UK’s position of international leadership including as the home to global mining majors, as a centre for responsible mining finance, metals trading and standards, and as a major consumer of critical minerals in our advanced manufacturing industries. The Government is engaging with UK mining, mining finance and metals trading communities to facilitate and encourage greater private sector capital investment in critical mineral projects along the value chain. B) The Government is also ensuring that UK domestic mining complies with permitting and planning regulations and encouraging the proportionate use of globally recognised frameworks and guidelines for responsible mining and investment where applicable. These include EITI standards, the Initiative for Responsible Mining Assurance (IRMA), the ICMM principles, the Equator Principles, and the UN Resource Management System (UNRMS) that protect the interests of communities and our natural environment. C) The Government is playing a leading role in global efforts to drive up ESG performance to improve the resilience of supply chains and level the playing field for responsible UK businesses overseas. The UK will use its wide-ranging membership of international forums to explore how we can work with partners to improve existing global ESG standards that support a more transparent, responsible and sustainable critical minerals industry. D) In the process of diversification of supply chains, we want the UK to contribute its expertise in responsible mining and enable UK businesses to play a role in the development of global supply. That is why the Government is supporting UK companies to participate in building responsible, diversified supply chains overseas. E) As part of our support for UK manufacturing, the government has provided specific funding and support to increase the UK’s capacity to recycle or reuse critical goods, through the ‘circular economy’, and to use innovative new technologies to reduce dependencies on relevant imports. To date this has included: supporting the Faraday Institution with £78 million in funding for electrochemical energy storage research; and launching the Life Science Innovative Manufacturing Fund, providing £60 million in funding to support the UKs ambition to grow the UK life sciences sector and to improve the UK’s ability to respond to major shocks or trading constraints. F) UK Research and Innovation’s (UKRI) “Materials for Manufacturing 2050 Vision” sets out a range of steps to promote research and innovation for manufacturing supply chain resilience by 2050. Action is already underway with specific projects focussed on developing the circular economy of critical goods.