LME enhances LMEpassport to include additional emissions data
The London Metal Exchange (LME) today announced a number of important advances to its sustainability commitments. LMEpassport gets enhanced to include emissions data comparability and disclosures related to non-LME grade metal.
With 210 brands (of 443 LME-listed brands) and 350 disclosures currently listed, LMEpassport is fast expanding as new LME-approved certifications and standards become available. Along with a new easy-to-navigate interface and search functionality, LMEpassport has now incorporated a single approved emissions methodology for nickel (provided by the Nickel Institute) and zinc (provided by the International Zinc Association), as well as for aluminium (provided by the International Aluminium Institute).
This provides greater emissions data transparency across each of these metals, enhancing users’ ability to compare data in a meaningful way.
Additionally, producers are now able to list disclosures for their non-LME registered brands alongside their LME brands, with Freeport-McMoRan Inc. already taking advantage of this new service. This further expands the use case of LMEpassport, enabling producers to showcase the sustainability credentials of a broader product suite.
Matthew Chamberlain, LME Chief Executive, commented:
“We are delighted that momentum has continued to build in LMEpassport usage since its launch last year. With disclosures now in their hundreds, we are starting to see our commitment to transparency and comparability in sustainability data develop in a meaningful way.
It is especially encouraging to see the results of the first responsible sourcing reporting, which is testament to the huge effort made by our producer-community to introduce enhanced compliance and accountability processes to metal supply chains. We look forward to continuing to work with all our stakeholders to build a better, more sustainable market.”