We have developed an Environmental, Social and Governance (ESG) framework and roadmap to guide us to act and report on ESG topics that we have identified being relevant to our business and our stakeholders.
The framework aims to gradually improve our alignment to key ESG standards from the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI), the Towards Sustainable Mining (TSM) initiative and International Sustainability Standards Board (ISSB)* Standards - S1 (General Requirements) and S2 (Climate).
This follows an identified need to incorporate ESG into our business strategy, governance and operations as we plan to commence mining operations at the Honeymoon site in late 2023.
This is an initial step towards a broader and ongoing commitment to sustainability, and we are proud to have achieved this important milestone.
Our ESG framework aims to gradually align our annual report information to leading ESG standards.
This begins in 2023/2024 with formally participating in the Towards Sustainable Mining (TSM) initiative and preparing a sustainability framework guided by key ESG standards, such as the International Sustainability Standards Board (ISSB) S1 (General Requirements) and S2 (Climate) standards, and the Global Reporting Initiative (GRI).
The focus is to develop initiatives and targets to address the material topics and then report on progress aligned with the standards. In the long-term, Boss Energy expects to report in accordance with detailed disclosure standards that are expected to be formally established by the Australian Accounting Standards Board (AASB) in the future based on the Australian Government consultation paper in June 2023.
We expect as Australian regulatory landscape continues to refine the timing, the roadmap will evolve based on the latest legislative and regulatory requirements.
Managing key environment and social risks.
Broad range of external stakeholders (Stakeholder Value).
External impacts of a company’s activities (Economic, Environmental, Social).
Broad range of external stakeholders, including customers (Stakeholder Value).
ESG issues expected to have financially material impact on the business (Internal & Regulator Focus) including through expected standards from the AASB.
Investors and other providers of financial capital (Enterprise Value).
Below are key roadmap actions that will guide us through implementing the ESG Framework across Strategy, Governance, Environment and Social topics.
*Note: The International Sustainability Standards Board (ISSB) final standards were released in June 2023. The Australian Government released a consultation paper in June 2023 with proposed positions for the detail, implementation and sequencing of standardised, internationally-aligned requirements for the disclosure of climate-related financial risks and opportunities in Australia and timelines and scaled thresholds as applicable.
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