FYI Resources Ltd (ASX:FYI) (OTCMKTS:FYIRF) (FRA:SDL) has formed an independent environmental, social and governance (ESG) reporting platform to centralise the company’s ESG data and assist in managing key metrics.
Following the awarding of an excellent independent ESG rating and to continue building on its ESG credentials, FYI has engaged globally respected ESG impact monitoring technology company Socialsuite to establish and maintain a tailored reporting platform.
ESG will assist the company to effectively measure, monitor and report on its ongoing ESG progress.
Utilising the Socialsuite platform, FYI will monitor and track its ESG progress on a quarterly basis to demonstrate positive ESG metric improvements and compare them against the industry peer group.
Long-term sustainable value
FYI managing director Roland Hill said: “With corporate governance continually evolving and a growing emphasis on businesses aligning with strong ESG objectives, FYI has made the commitment to continue developing and reporting on its sustainability improvement actions and the managing natural resources chain.
“There is growing evidence that companies that align their long-term corporate goals to strong ESG objectives are more likely to create long term sustainable value”.
Quarterly Socialsuite report
The Socialsuite reporting platform will provide the following:
- Measure and benchmark the progress of FYI’s ESG program;
- Build upon pre-built templates to assess FYI’s internal ESG goals and initiatives;
- Flag and manage internal and third-party ESG risk using pre-built assessment templates and an independent central third-party data exchange;
- Help drive positive ESG outcomes for FYI; and
- Provide the public with simple, transparent quarterly progress reports.
The initial Socialsuite ESG dashboard report for FYI will be released following the end of the June 2021 quarter.
A dashboard update report will be released quarterly thereafter.