Govt. to introduce environmental rating system
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BusinessGovernment says it will soon introduce an environmental rating system to recognise and reward companies that demonstrate good environmental stewardship. Minister of Green Economy and Environment, Gilbert Siame, says the initiative is aimed at encouraging companies to adopt…
Government says it will soon introduce an environmental rating system to recognise and reward companies that demonstrate good environmental stewardship.
Minister of Green Economy and Environment, Gilbert Siame, says the initiative is aimed at encouraging companies to adopt responsible environmental practices through a positive incentive-based approach.
Dr Siame says the ratings will enable companies with good environmental records to earn recognition, which could enhance their corporate profiles and attract responsible investors.
The Minister disclosed this when officials from Konkola Copper Mines (KCM) called on him at his office in Lusaka this morning.
Dr Siame explained that the rating will also promote healthy competition among companies and encourage those performing poorly to improve their environmental management practices.
He commended KCM for its public commitment to responsible corporate citizenship and environmental protection, stressing that environmental pollution and land degradation should not be compromised.
Speaking earlier, KCM Board Chairperson, Moses Banda, disclosed that the company has committed U$D20 million towards Corporate Social Responsibility programmes aimed at benefiting communities in its areas of operation.
Dr Banda said the initiative is intended to enable the company and local communities to contribute to national development in line with the Grow Zambia Agenda.
Meanwhile, Vedanta President for Strategy and Growth, Pushpender Singla, said the company has increased its investment portfolio in Zambia from U$D1.3 billion in 2024 to U$D2.5 billion this year.
He disclosed that KCM has increased copper production from 50, 000 metric tonnes in 2024 to 130,000 metric tonnes last year, with production expected to exceed 170,000 metric tonnes this year, through its 14,500 workforce.
Mr Singla attributed the growth in production to the growing mining sector which is also expected to create more opportunities for employment, suppliers and local businesses.
The Vadenta President revealed that his company will produce 300,000 metric tonnes of copper, representing 10 percent of the government’s three-million-metric-tonne national copper production target.
He said the mining firm is committed to invest in a country where policies are good.
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