GTI is moving with the ESG times as it focuses on clean energy
GTI has moved to align itself with the growing importance of Environmental, Social and Governance reporting in a world that’s transitioning to clean energy.
The company has adopted the internationally recognised ESG Stakeholder Capitalism Metrics framework with 21 core metrics and disclosures created by the World Economic Forum.
This is important for GTI Resources (ASX:GTR) as the new global environment is challenging the traditional expectations of corporations with sustainable investment hitting US$35.3m in five major markets at the start of 2020, up 15% in just two years.
“The GTI board is committed to best practice governance and will monitor and report the company’s activities against the 21 Core Metrics identified by the WEF,” executive director Bruce Lane said.
“The WEF ESG framework is helping us to create transparency around aspects of our operation so that our stakeholders can evaluate our performance in these key areas.
“In particular, the company is transitioning to carbon neutral operations as it seeks to develop its clean energy projects in the US.”
He added that GTI aimed to supply the nuclear power industry that is growing to meet the global push towards net zero emissions.
The company has engaged impact monitoring technology platform Socialsuite to streamline its outcomes measurement and ongoing ESG reporting process.
Earlier this month, GTI secured two rigs to progress uranium exploration at its Thor ISR project in Wyoming.
Drilling to confirm the grade and tenor of uranium mineralisation that was previously identified by Kerr McGee in the 1970s and 80s, as well as to support definition of an economic uranium resource, will begin in December.
The company has also completed a field reconnaissance exploration program at its Henry Mountains Project to increase its understanding of uranium and vanadium mineralisation within Section 2 at the southwestern end of the 5.5km mineralised strike.
This article was developed in collaboration with GTI Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.