Our commitment to Sustainability

Message from the CEO

Our ESG framework will provide a foundation for delivering sustainable production at the Honeymoon site

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.

ESG Framework

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.

2023

Launch ESG Framework and Roadmap

2024

Preparation of ESG Framework

2025

Commencement of ESG Reporting

Our ESG Framework

Towards Sustainable Mining

Focus

Managing key environment and social risks.

Audience

Broad range of external stakeholders (Stakeholder Value).

Global Reporting Initiative

Focus

External impacts of a company’s activities (Economic, Environmental, Social).

Audience

Broad range of external stakeholders, including customers (Stakeholder Value).

Sustainability Accounting Standards Board

Focus

ESG issues expected to have financially material impact on the business (Internal & Regulator Focus) including through expected standards from the AASB.

Audience

Investors and other providers of financial capital (Enterprise Value).

ESG Roadmap

Below are key roadmap actions that will guide us through implementing the ESG Framework across Strategy, Governance, Environment and Social topics.

From 2023 to 2024

Launch ESG Framework and roadmap

Outline a statement of Boss Energy’s commitment to ESG on the website and/or Annual Report.
Assign board members and staff titles with responsibility and oversight on ESG performance, including to implement the initiatives outlines in this roadmap.
Develop ESG / sustainability policies to cover the material ESG topics.
Plan to formally begin participation in a program aligned to customer needs, such as TSM or the WNA audit framework.
Engage with the WNA to understand more about the framework for internationally standardised reporting on the sustainable development performance of uranium mining and processing sites.

From 2024 to 2025

Preparation of ESG framework

Include training for new staff on ESG topics during inductions and annual refresher training for Board, management and existing key staff.
Establish annual reporting on material ESG topics, and disclose the process of identifying ESG topic-related risks.
Consider incorporation of material ESG risks into Boss Energy’s Risk Management Framework.
Completion of year 1 gap analysis under TSM or WNA aligned audit program.
Prepare sustainability framework and webpage. Focused on the material ESG topics.
Continue to monitor AASB progress on climate-related disclosure requirements.

2025 onwards

ESG reporting

Report on progress in meeting requirements of TSM.
Obtain an ESG Rating such as with MSCI or CDP.
Implementation and training; and completion of TSM year 2 self assessment and aggregate level reporting.
Completion of year 3 self-assessment and public facility level reporting (2026) under TSM or WNA requirements. Followed by TSM External verification self-assessment (2027).
Prepare sustainability report in accordance with the GRI and ISSB standards. Including use of the GRI Mining Standard.

From 2023 to 2024

Launch ESG Framework and roadmap

Collect existing data to effectively communicate and report on business conduct and ethics initiatives, policies and measures.
Inform management and employees on the Code of Conduct, including the company’s position on business ethics and whistleblower policy, and gather feedback around potential improvements.

From 2024 to 2025

Preparation of ESG framework

State alignment to ASX Corporate Governance Principles & Recommendations.
Report on financial assistance received from the government.
Establish a sustainable supply chain strategy and procurement framework (for example, introduce a code of conduct for suppliers).
Develop biodiversity and land conservation governance, policies and processes.
Prepare a suitable governance body/committee for material ESG topics.

2025 onwards

ESG reporting

Review of supplier governance requirements for modern slavery requirements under the Modern Slavery Act 2018.
Continue to monitor if Boss Energy meets the required reporting threshold for reporting under the Modern Slavery Act 2018, if so, develop a Boss Energy modern slavery statement.

From 2023 to 2024

Launch ESG Framework and roadmap

Begin measuring energy consumption (e.g. litres of diesel, kWh of electricity) for GHG emissions (Scope 1 and 2).
Identify suitable water metrics, such as total water withdrawn, consumed and discharged.
Prepare a list of waste/hazardous materials that will be generated from mining, and planned disposal methods.
Prepare to describe the approach for the management, security and transport of uranium product/radioactive substances.
Investigate renewable energy options for electricity.
Monitoring oversight and management of environmental matters in accordance with our Corporate Governance Policies.

From 2024 to 2025

Preparation of ESG framework

Calculate and report on energy and GHG emissions (Scope 1 and 2), and determine an emissions baseline.
Develop a Climate Change Policy and associated GHG emissions reduction targets.
Report total fresh water withdrawn, consumed and discharged during operations.
Report number of significant incidents associated with hazardous materials and waste management.
Describe approach to management, security and transport of radioactive substances.
Develop biodiversity and land conservation governance, policies and processes.

2025 onwards

ESG reporting

Develop a decarbonisation plan and targets to 2030 and 2050.
Conduct an analysis of climate scenarios and potential impacts to Boss Energy.
Evaluate and begin reporting on Scope 3 emissions.
Implement water reduction and recycling targets.
Report on waste directed to disposal, waste diverted from disposal, and management of significant waste-related impacts.
Report on environmental management policies and practices and report any major environmental incidents.

From 2023 to 2024

Launch ESG Framework and roadmap

Identify Boss Energy’s local community stakeholders, including Indigenous communities and landholders.
Develop policies and commitments to respect Indigenous Peoples’ cultural heritage.
Begin to report on injury frequency rates (potential incidents, near miss, LTIFR and TRIFR).
Describe the process/system for identifying and mitigating health and safety risks, including for contractors, within a health and safety policy.
Report the number of critical incidents, including significant spills and contamination events.

From 2024 to 2025

Preparation of ESG framework

Disclose a community investment plan, for support and contribution to local communities.
Develop a recruitment strategy for Indigenous communities, and work with them to find talent.
Disclose the number of local and Indigenous employees, and gender balance in the organisation.
Report on potential incidents, near miss, LTIFR and TRIFR, with root cause analysis undertaken.
Report relevant radiation statistics.
Introduce a safety training program.
Internal and External Audits periodically to monitor critical incident management systems.

2025 onwards

ESG reporting

Implement the community investment scheme.
Consider whether community engagement event/s are required including to help to identify and address potential grievances.
Report average hours of health, safety, well-being and emergency response training for employees and contractors.
Report the total number, volume, location, material and impact of any significant spills and contamination events, and actions taken to remediate them.

*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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