Gold's Dark Web: The Hidden Price of a Booming Market

Gold prices have more than doubled in five years, driven by geopolitical instability and a flight to hard assets. But the record market carries a devastating hidden price.

Gold is now the leading mineral driver of deforestation, destroying biodiversity and reversing hard-won climate gains. Rogue gold mining is poisoning water supplies and food chains, with severe health consequences. Higher returns are making gold an increasingly attractive vehicle to fuel armed conflict in Sudan and Ukraine, poisoning communities across the Amazon and West Africa along the way. This gold flows through London’s bullion market, the world’s largest gold trading hub - meaning London carries real weight — and real responsibility.

To understand the realities on the ground and what can be done, Fern are co-hosting an event with CAFOD, Spotlight on Corruption, Global Initiative against Transnational Organised Crime (GI-TOC), Mighty Earth and the FACT Coalition during London Climate Action Week, bringing together community leaders and experts to make the case for urgent reform. Participants will hear from banks and policymakers on their plans and perspectives.

Civil society organisations have developed joint recommendations for the UK government, the Financial Action Task Force, and the international community to address the harm caused by gold and note that the upcoming UK-hosted Illicit Finance Summit in December, the UK’s presidency of the Financial Action Task Force and the G20 are defining opportunities to act.

Date: 25 June
Time: 12:00–13:15 BST
Location: Amigo Room, St George's Cathedral, London or online

The event will feature the following panellists:

• Jackeline Mendoza Díaz, Asháninka Leader, Community of Samiri, Puerto Inca, Huánuco, Peru
• Daryl Bosu, Deputy Director, A Rocha Ghana
• Sophia Pickles, Global Initiative Against Transnational Organised Crime
• Julia Yansura, Program Director, Environmental Crime & Illicit Finance, FACT Coalition

Moderator: Jack Farchy, Senior Reporter for Energy and Commodities at Bloomberg News.

The panel will be followed by reflections from politicians and senior representatives of banks (names will be updated frequently as speakers are confirmed):

• Matthew Allen, Head of Policy, Complex Advisory and External Engagement, Economic Crime Risk, Santander

 

Register here

This is a hybrid event. You can choose whether you'd like to join in person or online on the registration page.

Categories: Events, Critical minerals