Electra Battery Materials Corporation (TSX-V:ELBM, NASDAQ:ELBM) announced the introduction of a comprehensive set of policies and frameworks dedicated to environmental, social and governance (ESG) best practices.
The policies cover human rights, supply chain, environment and sustainability issues, the company said. Along with the new policies, Electra is launching a whistleblower channel, open to internal and external stakeholders and accessible from the company’s website.
“Given our goal to develop a fully integrated, low-carbon battery material fleet for the North American electric vehicle industry, it is important that we have strong ESG policies in place and conduct ourselves in accordance. to industry best practices in sustainability, ethical sourcing and respect for human rights,” company CEO Trent Mell said in a statement.
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For example, Electra officially adopts a zero-tolerance policy against human rights violations, committing to annual supply chain audits in accordance with Responsible Mining Initiative standards.
The company is also committed to achieving zero direct and indirect greenhouse gas emissions by 2050. A clear roadmap to achieve these goals is expected in 2023. Additionally, as a member of the Institute Cobalt, Electra is committed to producing and using cobalt responsibly.
“Electra is committed to leading ESG frameworks and practices,” said Renata Cardoso, the company’s vice president of sustainability and low carbon. “The development and approval of these policies represents a major milestone for Electra. With policies and frameworks now in place, we can focus on training our employees, engaging with our supply chain and working on our management systems to track performance in accordance with industry standards.”
Electra’s core strategy is to produce low-carbon, ethically sourced battery materials for the North American electric vehicle supply chain. Electra is specifically focused on creating the first integrated battery materials fleet in North America, supplying refined cobalt, nickel and recycled battery materials to North American battery precursor manufacturers.
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