Vertex Minerals
ENVIRONMENTAL SOCIAL GOVERNANCE
Vertex Minerals Limited (VTX) is pleased to be making progress on our Environmental, Social, Governance (ESG) reporting and we acknowledge the importance of incorporating ESG into our business model for ethical and financial reasons.
“Being a leader in this space [ESG] is as much about creating a long-term sustainable business that attracts and retains customers, as well as the best talent, as it is about doing good for the planet… Those who don’t act… will be left behind.”
Australian Financial Review, Jul 25, 2022; ‘Why every letter of ESG counts’.
Ben Kilpatrick, Partner, Customer Advisory at KPMG
WHAT IS ESG ?
ESG refers to the environmental, social and governance information about a company.
ESG Reporting
All Reports can be found here
The World Economic Forum (WEF) has created a framework of ESG metrics and disclosures based on what it refers to as the four pillars:
• Principles of Governance
• Planet
• People and
• Prosperity
Principles of Governance
The definition of governance is evolving as organizations are increasingly expected to define and embed their purpose at the centre of their business. But the principles of agency, accountability and stewardship continue to be vital for truly "good governance".
Planet
An ambition to protect the planet from degradation, including through sustainable consumption and production, sustainably managing its natural resources and taking urgent action on climate change, so that it can support the needs of the present and future generations.
People
An ambition to end poverty and hunger, in all their forms and dimensions, and to ensure that all human beings can fulfil their potential in dignity and equality and in a healthy environment.
Prosperity
An ambition to ensure that all human beings can enjoy prosperous and fulfilling lives and
that economic, social and technological progress occurs in harmony with nature.
Image source: ‘Four pillars’,WEF/IBC Measuring Stakeholder Capitalism Report, 2020
WEF FRAMEWORK METRICS FOR ESG REPORTING
Within the four pillars, 21 themes are addressed and reported on by ESG companies like VTX using the WEF Framework Metrics (pictured below).
This information and analysis can then inform our internal decision-making and business strategies and it allows investors to see that we are actively engaged in ESG analysis and goal setting, aiming to be a good corporate citizen, responsible environmental steward and that we are led by accountable managers.
Image Source: World Economic Forum ESG Framework Metrics, Social Suite ESGgo
SUSTAINABLE DEVELOPMENT GOALS (SDGs)
The United Nations has developed 17 Goals to ‘Transform our World’ and it describes these Sustainable Development Goals (SDGs) as ‘…the blueprint to achieve a better and more sustainable future for all.’
The four pillars at the basis of the World Economic Forum’s framework for ESG reporting are also aligned with the United Nations’ SDGs. These SDGs are drawn wherever possible from existing standards and disclosures, and the metrics have been selected for their universality across industries and business models.
Below is a United Nations chart of icons used to identify each of the SDGs. In each of the four pillars outlined further down, we have added in the associated icons used by the United Nations to demonstrate the relevant SDGs in each ESG pillar.
PLANET (ENVIRONMENTAL)
OUR DISCLOSURES AND METRICS
CLIMATE CHANGE
PL-01-C1 GHG Emissions DOWNLOAD DOCUMENT HERE
PL-01-C2 TCFD Implementation DOWNLOAD DOCUMENT HERE
As referenced in above document - we are providing a full copy of the 2017 Final Report - Recommendations of the Task Force on Climate-related Financial Disclosures HERE
NATURE LOSS
PL-02-C1 Land use and key biodiversity areas DOWNLOAD DOCUMENT HERE
FRESH WATER AVAILABILITY
PL-03-C1 Water Consumption DOWNLOAD DOCUMENT HERE
ASSOCIATED UNITED NATIONS SDGs
PEOPLE (SOCIAL)
VTX supports the growth of knowledge, prosperity and well-being for all people and that includes our employees, contractors, workers, suppliers, distributors, retailers and investors.
Growth in these areas for all our people leads to success in our business (both financial and non-financial) but also at all levels of our society. The business case for us to manage and disclose information on how we ensure an engaged, skilled and healthy workforce across our value chain is compelling.
OUR DISCLOSURES AND METRICS
DIGNITY AND EQUALITY
PE-01-C1 Diversity and inclusion DOWNLOAD DOCUMENT HERE
PE-01-C2 Pay equality DOWNLOAD DOCUMENT HERE
PE-01-C3 Wage level DOWNLOAD DOCUMENT HERE
PE-01-C4 Child, forced or compulsory labour DOWNLOAD DOCUMENT HERE
HEALTH AND WELL BEING
SKILLS FOR THE FUTURE
ASSOCIATED UNITED NATIONS SDGs
GOVERNANCE
VTX understands that good governance is crucial to achieving long-term value by aligning and
driving both financial and societal performance, as well as by ensuring accountability and building legitimacy with stakeholders.
OUR DISCLOSURES AND METRICS
GOVERNING PURPOSE
GO-01-C1 Setting Purpose DOWNLOAD DOCUMENT HERE
QUALITY OF GOVERNING BODY
STAKEHOLDER ENGAGEMENT
ETHICAL BEHAVIOUR
GO-04-C1 Anti-corruption practices DOWNLOAD DOCUMENT HERE
GO-04-C2 Mechanisms to protect ethical behaviour DOWNLOAD DOCUMENT HERE
RISK AND OPPORTUNITY OVERSIGHT
ASSOCIATED UNITED NATIONS SDGs
PROSPERITY
VTX is aware that the UN’s 2030 Agenda for Sustainable Development identifies prosperity as an area of critical importance, as outlined in the WEF Report on Measuring Stakeholder Capitalism (2020).
We also acknowledge that the inclusion of prosperity is a significant part of the WEF’s ESG framework and we understand the importance of economic, social and technological progress occurring in harmony with nature so that we can assist our people and society as a whole in achieving these goals.
OUR DISCLOSURES AND METRICS
EMPLOYMENT AND WEALTH CREATION
PR-01-C1 Rate of employment DOWNLOAD DOCUMENT HERE
PR-01-C2 Economic contribution DOWNLOAD DOCUMENT HERE
PR-01-C3 Financial investment contribution DOWNLOAD DOCUMENT HERE
INNOVATION OF BETTER PRODUCTS AND SERVICES
PR-02-C1 Total R & D expenses DOWNLOAD DOCUMENT HERE
COMMUNITY AND SOCIAL VITALITY
PR-03-C1 Total tax paid DOWNLOAD DOCUMENT HERE
ASSOCIATED UNITED NATIONS SDGs
Sources: (Accessed November 2022)
‘Why every letter of ESG counts’, AFR, Jul 25, 2022, Sponsored by KPMG Ben Kilpatrick, Partner, Customer Advisory at KPMG https://www.afr.com/companies/financial-services/why-every-letter-of-esg-counts-20220721-p5b- 3ku
Deloitte – IAS Plus - WEF issues publication on ESG Framework https://www.iasplus.com/en/news/2020/09/wef-issues-publication-on-esg- framework
Investopedia – Financial Media, New York - ESG https://www.investopedia.com/terms/e/environmental-social-and-governance-esg-criteria.asp
World Economic Forum - ESG
https://www.weforum.org/partners/live-updates/how-are-the-forums-partners-fulfilling-their-esg-responsibilities/
United Nations - SDGs
https://www.un.org/sustainabledevelopment/sustainable-development-goals/
World Economic Forum and International Business Council Report: Measuring Stakeholder Capitalism, 2020
https://www3.weforum.org/docs/WEF_IBC_Measuring_Stakeholder_Capitalism_Report_2020.pdf
The World Economic Forum
https://www.weforum.org/partners/live-updates/how-are-the-forums-partners-fulfilling-their-esg-responsibilities/
Heading images: https://www.pexels.com/
ESG heading - pexels-oliver-sjöström-931018
People - pexels-belle-co-1000445
Planet – pexels-pixabay-87651
Governance – pexels-alex-andrews-1203808
Prosperity - pexels-julia-filirovska-8245622