Critical Minerals and ESG: Balancing Opportunity and Responsibility
ENSOR was honored to take part in the Uzbekistan International Mining Forum (UIMF 2025) in Tashkent. Victor Davydov, ENSOR's co-founder and environmental and social consulting director participated in the session “Metals of the Technological Revolution: Critical Minerals,” presenting on “Critical ESG Requirements for the Critical Minerals Sector: Aligning Uzbekistan’s Mining & Metals Operations with Global ESG Expectations for Capital Raising.”
Victor's key message was: Critical minerals are essential for modern economies but their extraction and processing come with significant ESG risks. Poor management of these risks can limit access to global markets and capital. Strong ESG performance, on the other hand, can open doors to investment and sustainable growth.
He covered the following themes:
🔹 Key ESG risks and impacts for critical minerals sector specific for Uzbekistan;
🔹 The differences in ESG expectations across main destinations for critical minerals exports;
🔹 How the EU Critical Raw Materials Act (CRMA) is reshaping supply-chain transparency, circularity, and sustainability certification;
🔹 The growing importance of international standards and schemes such as IRMA and CMSI
🔹 The role and ESG expectations of international financial institutions
Drawing on ENSOR’s consulting experience, Victor shared insights into existing regulatory gaps with critical ESG requirements of international standards (such as 59 critical requirements of IRMA standard) and practical steps for companies seeking to attract responsible finance and expand into export markets.
Grateful to the UIMF organizers, colleagues, and participants for an inspiring exchange of ideas and a shared vision of responsible growth.