The Institute of Directors launches new Natural Resources Special Interest Group

The Institute of Directors (IoD) will launch its new Natural Resources Special Interest Group at the House of Lords, London, on Monday 25 March 2024.

Business leaders, government ministers, ambassadors, high commissioners, representatives of diplomatic missions to the UK, and members of the House of Lords will be in invite-only attendance.

The event will encourage responsible harnessing of natural resources for the global energy transition and witness the first-ever signing of The Responsible Natural Resources Declaration by attendees.

The event will include speeches from the Rt. Hon. Baroness Northover, Nusrat Ghani MP, Minister of State for the Investment Security Unit, and a pioneer for critical minerals policy for the UK.

The industry keynotes will feature Simon Moores, CEO of Benchmark Mineral Intelligence, and Richard Taylor, Chair of the IoD Natural Resources Special Interest Group (SIG).

The IoD, the UK’s leading body for professional directors, formed in 1903 and was granted a Royal Charter in 1906.

The Natural Resources SIG is a platform designed to facilitate communications between industry leaders, government officials, and peers in the natural resources sector.

Its primary aim is to enable the sharing of best practices and to engage in constructive discussions about critical issues affecting the industry. By working together, the participants can take action to advance the energy transition.

This sector encompasses several crucial areas such as commodity metals, critical minerals, processing and mining, energy, water, fisheries, and agriculture. These areas are essential to the UK’s economy and the global sustainable future.

Commenting on the launch, the IoD’s Natural Resources leadership team, Richard Taylor, Juan Cabrera, and Kruthika A. Bala stated:

“We are delighted to launch the Natural Resources SIG, which will provide a valuable platform for individuals and organisations working in this vital sector. By bringing together diverse perspectives, we can foster collaboration, share knowledge, and contribute to a more sustainable and prosperous future for the UK’s natural resources industry.

“We are delighted to host this launch reception with Benchmark Mineral Intelligence, signifying our commitment to fostering a diverse and inclusive platform for knowledge sharing and collaboration within the vital natural resources sector. “

Simon Moores, CEO at Benchmark Mineral Intelligence, added:

The IoD is creating this new platform in the heart of Westminster to engage on one of the megatrends of our times: the sustainable management of the natural resources space.

“The mining and refining of critical minerals like lithium, copper, and rare earths are at the heart of the transition away from fossil fuels.

“A pledge and aligning continuous and constructive dialogue from those in the highest positions of power and influence is the only way this global challenge can be met.”

The Natural Resources SIG welcomes all IoD members, non-members, and individuals working in the natural resources sector. To learn more about the group please visit the Natural Resources page here.

The Rt Hon. Baroness Northover, Member of the House of Lords, and Vice Chair of the All-Party Parliamentary Group (APPG) on Critical Minerals said:

“Critical minerals represent a significant strategic opportunity for the UK’s future. These essential resources underpin the development of clean technologies, driving economic growth, green job creation, and our journey to net zero. A secure supply chain unlocks UK potential. Success hinges on nurturing domestic talent in critical minerals alongside forging robust international partnerships.

“The IoD’s Natural Resources Group’s focus on critical minerals is a timely and important initiative. Shedding light on both the opportunities and the potential challenges associated with this strategic resource is crucial for informed decision-making.”

Industry and Economic Security Minister Nusrat Ghani asserted:

“A secure supply of critical minerals is essential for UK industry, our energy transition, our economic growth, and national security. Resilient supply chains mean manufacturers have confidence to do business in the UK, creating jobs and wealth and helping to level up the country.

 “Initiatives like the IoD’s Natural Resources Group can play an important role in raising the profile of important supply chain issues amongst our industry leaders and build relationships to help businesses tackle these global challenges.”

Speaking ahead of the launch event, Dr. Roger Barker, Director of Policy and Corporate Governance at the IoD stated:

“The Natural Resources SIG is a tremendous addition to the IoD’s evolving family of special interest groups. It enables IoD members to engage with peers and decision-makers on some of the big issues facing UK business, including the challenge of securing access to crucial natural resources, and executing a viable transition to net zero. We encourage business leaders with an interest in these key topics to join us in this exciting initiative.”

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The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.
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