Suvo is taking ESG seriously; here’s what it plans to do
Link copied to
Suvo is taking steps to ensure that it is keeping up with the ever-increasing focus on environmental, social and governance (ESG) considerations by adopting a global framework.
This framework focuses on key metrics along with disclosures that are based on leading global ESG standards.
Additionally, Suvo Strategic Minerals (ASX:SUV) has established an independent ESG committee and appointed ESG specialist ESG+F Pty Ltd (“ESG+F”) to oversee the execution of its ESG strategy.
“As a producer and explorer of minerals critical to the world transitioning to a low-carbon economy, it makes strategic sense for Suvo to embed leading ESG processes and expertise across all our operations and supply chains,” executive chairman Robert Martin said.
“With our strategic upgrade underway at Pittong, and mining, environmental and social studies all underway for our White Cloud Kaolin and Nova Silica Sands projects, the company has the opportunity to make measurable and permanent sustainability improvements that optimises its assets for the long term, opens access to new sources of capital and new markets.”
ESG+F’s managing partner Oliver Barnes noted that 2021 was a breakout year for ESG, with the global sustainable investment market reaching US$35.3 trillion with a CAGR in Australasia of 36% between 2014-2020.
Further support for the importance of ESG comes from fund manager Schroders, which found in a survey that 94% of global investors (91% in Australia) were conscious of sustainable investing and ESG-aligned investment opportunities.
Suvo’s ESG framework focuses on 100 ESG metrics that are believed to be material to its industry sector, operating jurisdictions, and assets.
These include climate change, responsible use of resources including energy and water, ecological footprint including biodiversity, health and safety, human rights, social supply chain and shareholder rights.
Its board has instructed management, supported by ESG+F, to create a systematic pathway for the implementation of its ESG strategy and to align ESG initiatives within its operations.
This article was developed in collaboration with Suvo Strategic Minerals, 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.