The purpose of this statement is to outline Power Metal Resources’ (“POW”) overall approach to sustainability and how we plan to implement and promote a range of environmental, social and governance (ESG) initiatives and develop sustainability within the Company.
Power Metal Resources is committed to take the necessary steps to ensure sustainability is at the core of its operations, ensuring positive and ethical work practices and overall success for the Company and its stakeholders.
This statement will act as an introduction to the incorporation of sustainability into the business activities and how it plans to further integrate sustainability. Power Metal’s goal is for all stakeholders to receive transparent and honest information through an annual ESG report, outlining various data sets relating to ESG.
In addition, this statement will outline the introduction of new policies to be followed by all staff, contractors, consultants, and associates. These policies will further guarantee Power Metal’s core commitment to sustainability.
The Company aims to achieve the following objectives:
The Power Metal Resources team is dedicated to the protection of any environment in which the company operates. To monitor this, the Company has developed internal policies which outline the standards it maintains for all environmental matters.
The Company has implemented Environmental Management Plans (EMPs) that will be completed prior to the commencement of any programs. These EMPs will report the material usage, type of exploration, contractors, any potential environmental risks, and how they will be managed and avoided, as well as many other factors. The EMP will then be submitted to the ESG Committee for review and approval to ensure that the plan adheres to the Company’s stringent ESG and environmental welfare policies.
As the Company grows, it recognises the need for a more comprehensive report on all environmental data. This data will be collected and published in the Company’s ESG report. Some of the data sets collected are as follows:
The Company recognises the importance of social engagement within its operations. Power Metal values the relationships with the local communities it operates within and looks forward to developing these relationships further.
The Company is committed to ensuring that it follows all region and country specific regulations on social engagement. One of the Company’s main priorities is to ensure that all local requirements are met and that the Company is always operating in a respectful manner within the communities.
To meet this goal, the Company has implemented a Social Engagement Plan (SEP). This plan will be implemented for all projects and will assist the company with maintain its high standards on social engagement. The SEP will be completed and submitted to the ESG Committee for review and approval. In addition, the Company will report on multiple factors to ensure continuous improvement of the quality of business operations, including:
Power Metal Resources has established an ESG committee to oversee the implementation of ESG practices and support the Board of Directors with any matters relating to ESG. The ESG committee roles are as follows:
The Company has developed its governance approach by subscribing to the QCA Corporate Governance Code 2023 to add new values and assist with appropriate governance practices.
By maintaining good governance practices, the Company aims to assure ethical conduct and integrity enhance risk management and ensure transparency to stakeholders.
For Governance reporting, the Company will report the following Governance data:
This statement reflects the Power Metal Resources approach to ESG throughout its business activities and how the Company plans to develop and strengthen its commitment to ESG as the business develops.
Approved by the Company’s Board of Directors on 21 February 2024.
Sean Wade, CEO
Scott Richardson Brown, Non-executive Chairman
Ed Shaw, Non-executive Director
Bill Brodie-Good, Non-executive Director
