Rare earths explorer ABx Group (ASX:ABX) has released a baseline environmental, social, and governance (ESG) report as it works to improve its ESG metrics.
In October 2023, the company made public its commitment to greater transparency on the ESG front in line with the World Economic Forum Stakeholder Capitalism framework.
The framework comprises a set of 21 core and 34 expanded metrics aimed at improving the ways companies measure and demonstrate their contribution to a more prosperous society and sustainable planet.
It enables reporting on core ESG matters such as governance, anti-corruption practices, ethical behaviour, human rights, carbon emissions, land use, ecological sensitivity, water consumption, diversity and inclusion, pay equality and tax payments.
ABx enlisted the help of the Socialsuite reporting platform to assist with the initial ESG gap analysis and preparation of the baseline report.
Managing Director Mark Cooksey says the release of ABx’s first disclosure report is an important milestone for the company on the pathway to improving its ESG metrics.
“As part of our purpose of ‘delivering materials for a cleaner future’, ABx is committed to the principles of ESG,” he says.
“We believe that taking appropriate actions that improve our ESG metrics will advance our business and create value for shareholders.
“The board is committed to ESG reporting on a regular basis, sharing our progress and improvements to creating long-term value for all our stakeholders.”
ABx’s two key focus areas are the creation of a rare earths project, to enable the increased production of permanent magnets that are essential for renewable energy generation, and the establishment of a plant to produce hydrogen fluoride and aluminium fluoride from recycled industrial waste.
Write to Angela East at Mining.com.au
Images: ABx Group
