Contribution of gold to society:
1.The gold industry makes a meaningful contribution to the UN Sustainable Development Goals.
The WGC has long believed that responsible gold mining supports the continued socio-economic development of the countries and communities in which gold mining operates through its contribution to employment, taxation and investment in local communities. Gold itself also plays a key role in supporting social needs and is considered important in global culture. It is deeply understood and recognized as a source of financial security and is critical to numerous technology and healthcare applications.
2.Gold can promote social and economic development.
Gold mining is a major economic driver in many countries around the world. Well-managed, transparent and responsible resource extraction can be a major contributor to economic growth due to the creation of jobs and business opportunities for local people. In addition to direct and indirect employment, gold mining also generates foreign direct investment and tax revenue for countries.
Gold mining companies often operate in remote locations and invest in infrastructure and utilities. In addition to meeting the needs of gold mines, these improvements to roads, water and power supplies are a long-term benefit to businesses and communities across the region, outstripping the mine’s production life.
As gold miners decarbonize their energy sources, they can also bring cleaner electricity to local communities, and in some places will be key players in bringing low-carbon electricity to the region, with potential development benefits far far beyond the mines. Gold miners often work with host governments, communities and NGOs in their countries to determine how best to support wider social and economic development.
Gold mining companies also have ethical and business incentives to improve health and education in the communities in which they operate. Many companies invest in social infrastructure, including schools, colleges and health centers, to improve the opportunities and well-being of local people. In addition, many miners provide health care for their employees and surrounding communities—from COVID-19 relief to malaria responses. Responsible gold mining contributes to the achievement of the United Nations Sustainable Development Goals.