GTI Resources Ltd (ASX:GTR) has confirmed its focus on clean energy with the adoption of internationally recognised Environmental, Social and Governance (ESG) Stakeholder Capitalism Metrics framework created by the World Economic Forum (WEF).
The framework is based on 21 core metrics and disclosures, designed to provide common metrics that allow consistent reporting of sustainable value creation.
Creating transparency
“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 World Economic Forum,” GTI Resources 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. I am delighted that GTI has adopted this universal ESG reporting framework as we strive to define economic ISR uranium resources in Wyoming’s Great Divide Basin.
“GTI ultimately aims to supply the rapidly expanding nuclear power industry which is experiencing transformative growth as part of the aggressive global push towards net-zero emissions.”
Energy transformation
The global move toward significantly reduced carbon emissions is driving a transformation of the global energy business, including a spectacular resurgence of the nuclear energy industry.
This new global environment is challenging the traditional expectations of corporations and redirecting investment capital into more sustainable sectors and businesses.
At the start of 2020, global sustainable investment reached US$35.3 trillion in five major markets, a 15% increase in the past two years.
GTI intends to chart a course to address rapidly expanding future need for uranium and provide emissions-free nuclear power.
Ultimately, the company seeks to build corporate resilience and enhance its social licence through a commitment to long-term, sustainable value creation that embraces the wider demands of people, the planet and shared prosperity.
WEF ESG Framework
GTI’s board has resolved to adopt the WEF ESG framework and begin making disclosures against the Stakeholder Capital Metrics. They include but are not limited to governance, anti-corruption practices, ethical behaviour, human rights, carbon emissions, land use, ecological sensitivity, water consumption, diversity and inclusion, pay equality and tax payments.
The company has engaged impact monitoring technology platform Socialsuite to streamline the outcomes measurement and ongoing ESG reporting process.
GTI’s goal is to demonstrate commitment and progress on its ESG scorecard, but more broadly to align its mainstream reporting on performance with ESG indicators.
The company says its efforts to define economically viable uranium resources has the potential to create inherent positive impact and the adoption of the WEF framework has already paid ESG dividends.
GTI is now actively pursuing a plan to offset its own operational carbon emissions and has moved to increase its commitment to establishing low environmental impact ISR amenable uranium assets in Wyoming, USA.
About GTI Resources
GTI Resources is a Perth-headquartered mining company with a focus on the exploration of gold and uranium assets in Western Australia and the US.
The company has a large holding in the Niagara gold mining district of Western Australia that offers an opportunity to test the historically mined area using modern exploration techniques.
GTI also has 1,500 hectares in the Henry Mountains region of Utah, USA, where the company plans to advance a uranium project to supply high-grade uranium ore to help fill existing local mill processing capacity.