Aldoro Resources adopts global standard for ESG reporting

Aldoro Resources Ltd (ASX:ARN) has adopted the gold standard for environmental, social and governance (ESG) framework with 21 core metrics and disclosures created by the World Economic Forum (WEF) for all of its activities. The company has resolved to adopt the WEF ESG framework and will set up an impact measurement plan for each sustainability area. This will include but is 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. Adoption of WES framework also includes engaging Socialsuite technology platform for ESG reporting, monitoring and improvement. “Demonstrating our ESG commitment” Chairman Joshua Letcher said: “ESG is of the highest importance to Aldoro Resources, it is our commitment to ensure that we deliver on our Environmental, Social and Governance commitments along with providing access and demonstrating our ESG commitment whilst building a world-class battery minerals portfolio to enable a greener future, I am delighted our company has adopted this universal ESG framework to measure and report our ESG performance.” Measures for adopting ESG framework The company is charting a course to build resilience and to enhance its social licence through a greater commitment to long-term, sustainable value creation that embraces the wider demands of people, the planet and shared prosperity. Aldoro’s board has instructed management to set up an impact measurement plan for each sustainability area. For measuring, monitoring and reporting progress on ESG adoption, the company has engaged impact monitoring technology platform Socialsuite to streamline the outcomes measurement and reporting process. Currently, the company is reviewing its commitment to transparency to shareholders, and this will result in several new additions to the company’s website, including access to the company ESG dashboard to enable shareholders to monitor the delivery of a better resources industry. Baseline ESG Dashboard The company has deployed Socialsuite’s ESG technology platform to set its initial ESG baseline in its first quarterly ESG dashboard.  With a tailored action plan, the company will focus on delivering and reporting progress toward disclosing and improving ESG metrics and indicators. WEF ESG background In its summer meeting in 2019, the WEF’s International Business Council (IBC) flagged the existence of multiple ESG reporting frameworks and the lack of consistency and comparability of metrics on reporting progress on sustainable development goals. In collaboration with Deloitte, EY, KPMG and PwC, a set of universal, material ESG metrics and recommended disclosures were identified that could be reflected in the mainstream annual reports of companies consistently across industry sectors and countries. The metrics were designed to enhance transparency among corporations, investors, and all other stakeholders.