Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has been granted green label certification for debt issued to develop its Lake Way Sulphate of Potash (SOP) Project, which confirms the Western Australian project's positive environmental aspects
The green label is set out by the Loan Market Association (LMA) and Asia Pacific Loan Market Association (APLMA) green loan principles and will be positive for the company’s debt partners, as well as all other stakeholders including the local community, offtakers and suppliers.
This designation also covers associated governance procedures relating to correct management of proceeds and reporting.
“Positive environmental contribution”
Salt Lake Potash chief executive officer Tony Swiericzuk said: “We are delighted to have received the ‘Green’ label designation for the Lake Way Project, confirming the positive environmental contribution our project will make towards reducing emissions from the global fertiliser industry.”
Shares have been as much as 4% higher to A$0.61 and are up from A$0.32 at close on April 29.
The company’s eligibility was assessed by DNV GL.
As part of the review for certification, Wood Canada Limited conducted a technical assessment of greenhouse gas emissions of SOP production at Lake Way, relative to Mannheim SOP production in other locations.
The assessment concluded that a Mannheim process plant of comparable capacity would have 60% higher carbon dioxide emissions than the Lake Way Project.