Australian Mines Limited (ASX:AUZ) (OTCMKTS:AMSLF) (FRA:MJH) is targeting a 100% carbon neutral status this year through reducing greenhouse gas emissions and offsetting its remaining carbon-generating activity.
The company aims to become certified Carbon Neutral, under the Australian Government’s Climate Active Program.
Making the decision to become carbon neutral is part of the company’s ongoing commitment to building a sustainable business that incorporates leading Environmental, Social and Governance (ESG) practices.
“Leadership position on ESG”
Australian Mines managing director Benjamin Bell said: “Being 100% carbon neutral is a natural extension of Australian Mines’ commitment to taking a leadership position on ESG."
This decision follows the approval of the company’s membership of the Initiative for Responsible Mining Assurance (IRMA) last month.
The IRMA is an independent third-party organisation that verifies and certifies socially and environmentally responsible mining.
“Commitment to communities”
Australian Mines is now working towards IRMA certification specifically for the Sconi Cobalt-Nickel-Scandium Project in North Queensland.
Bell said: [This] will follow on from the approval in March 2020 of our membership of IRMA and Sconi being given ‘Prescribed Project’ status in early 2019 by the Queensland Government, which is a recognition of our commitment to the communities where we operate.
“Australian Mines is a responsible corporate citizen that plans to deliver a globally significant, ethical, reliable and sustainable source of technology metals to the rapidly growing electric vehicle and energy storage industries.”
Developing Carbon Neutrality plan
The company is partnering with Pangolin Associates to develop a Carbon Neutrality plan.
Pangolin Associates is a sustainability, carbon and energy management consultancy working with the Climate Active Program.
Australian Mines expects to begin implementing its Carbon Neutrality plan by June 30, 2020, and be formally certified carbon neutral by the Australian Government before the end of the year.
Bell said: “Investing in becoming a carbon-neutral business is investing to build a long-term sustainable future for Australian Mines and long-term value creation for our shareholders.
“We will join more than 90 organisations across Australia that have attained certified carbon neutrality, leading to over 15 million tonnes of carbon emissions being offset or the equivalent of 4 million cars being off the road for a year.”