By Jeff Kapembwa
Copper-mining companies should be wary of the risks posed to the environment as they extract the red metal amid rising demand and any oversight might derail the Green Growth Strategy being espoused globally, bearing in mind the consequences of the climatic change effects on economies.
Zambia like many other copper-producers caught in the fray, is developing a home grown and inclusive Green Growth Strategy under its 2022-26 National Development Plan (NDP) is envisaging to attain inclusive development -sustainable and equitable over the use of the country’s natural resources within ecological limits’.
The plan further envisions fostering economic growth and development through sustainable resource management driven by the country’s potential to build the economic capacity to adapt to climate change, develop circular systems and reduce waste and material consumptions.
Minister of Economy and Environment (MGEE), Collins Nzovu notes that the call for adherence to regulations that protect the environment was more cardinal than ever before to attain sustainability and avert disasters associated with over-use hence the call for delicate balance.
Speaking in Kitwe during the just ended EU-Zambia Business Forum dubbed: Growing Copper Industry in Zambia through Green Value Chains” on the sidelines of the FinnBizWeek 2024-the eighth meeting since inception and aimed at the Finland Zambia collaboration in various sectors, Minister Nzovu called for a delicate balance between the rapid increase in copper output and maintaining the environmental sustainability to avert disasters heightened by climatic effects.
There is urgent need for legislations that protect social and governance (ESG) safeguards as the global production of and demand for copper increases rapidly, and ensuring all players adhere to the set rules while inducing punitive measures against those flouting them and ensuring unreserved compliance.
Zambia plans to soon launch the Environmental Management (amendment) Act No. 9 of 2023, to be complimented by the Green Growth seeking to meet the country’s ambitious copper output target for Zambia within the environmental sustainability realm.
THE amendment to the Act embraces two guiding principles in the Green Growth strategy that are relevant to the envisaged rapid copper production which emphasis the need to live within the carrying capacity of mother earth:
It entails living within planetary boundaries – all human prosperity depends upon sustainable utilization of the environment and natural resources.
There will be efficiency and sufficiency as green growth is low carbon, diverse, circular and inclusive as espoused in the country’s current development plan where the entire pillar to environmental sustainability.
Its implementation, Minister Nzovu said, is overseen by the environmental cluster which comprises all relevant ministries, Non-Government Organisations and the private sector.
Minister Nzovu stressed the essence of copper, dubbed: “the new oil” and its role in transitioning the human economy and how it helps in decarbonisation of the human economy when it is deployed in the transportation, electrification and renewable energy sectors and if not guided by legislation could affect environments and reverse various economic gains.
“Allow me to reiterate the importance of ensuring that we mine our copper in an environmentally friendly manner across the globe, given that mining is a significant contributor to Greenhouse Gases (GHG) emissions that are responsible for climate change.” noted minister Nzovu.
“I am afraid we are not doing enough as a global community of nations to fight climate change,” he said.
At the same occasion, President Hakainde Hichilema called for affordable capital and best technology as the construction of Lobito development project is being undertaken to link Zambia, Angola and DR Congo to facilitate tripartite trade and economic development among the three neighbours with shared resources.
President Hichilema regretted that time in memorial, African economies have been undervalued, leading to prohibitively expensive capital.
However, Zambia’s stable democracy, which has seen peaceful transitions seven times over 60 years, underscores its credentials as an attractive investment destination. Regrettably, Africa is deprived of affordable capital to carry out massive projects such as the Lobito corridor which are key ingredients in economic development.
The private sector has been challenged to communicate to the three Governments what is likely to slow the project so that it is attended to so that the project can be actualized in the stipulated time.