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Vertex Minerals (ASX:VTX) solidifies its sustainability stance with ESG framework adoption

Image Source: © Elnur | Megapixl.com

Highlights

  • Vertex Minerals (ASX:VTX) has adopted the global standard for ESG reporting and has begun disclosing ESG metrics, (announced on 8 August 2022).
  • VTX has engaged Socialsuite’s technology platform for disclosing and monitoring its progress towards ESG.
  • The Hill End Gold project boasts of an excellent environmentally sustainable foundation and VTX is advancing it towards production.

Australian explorer Vertex Minerals Limited (ASX:VTX) is focused on multiple advanced gold projects portfolio that position it as the first truly environmentally sustainable producer of green gold in Australia.

VTX has adopted an Environmental, Social, and Governance (ESG) framework and has now begun to disclose ESG metrics. This framework developed by the World Economic Forum (WEF) includes 21 core metrics and disclosures.

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VTX employs universal ESG framework

VTX’s Board has resolved to utilise the universal ESG framework to align with mainstream reporting on performance against ESG indicators.

VTX believes that this framework is the most suitable ESG disclosure framework to begin with, as it leverages various existing frameworks and is deliberately built to be a steppingstone to kick-start building capacity and capability in ESG reporting.

VTX has included ESG metrics in typical reporting and incorporating them into governance, business strategy, and performance management process. In doing so, the company intends to highlight its diligence in considering all related risks and opportunities in its business operations.

Source: © Elnur | Megapixl.com

Multi-fold increase in global sustainable investment

VTX believes that nature loss, climate impact, and social unrest around inclusion and working conditions have impacted the space where the company operates. The new international environment is challenging the conventional expectations of businesses and redirects investment capital.

Moreover, the worldwide sustainable investment has now reached approximately US$30 trillion, indicating a 68% growth since 2014 and a tenfold increase since 2004.

VTX’s upcoming moves  

VTX is committed to employing an ethical and environmentally sustainable approach to producing green gold and has thus made this vital move. The company is seeking to advance its flagship project, the Hill End Gold project, towards production. This project indicates an excellent environmentally sustainable foundation that is expected to align well with Socialsuite.

Source: VTX

VTX is drawing up a plan to build resilience and improve its social licence by an increased commitment to long-term, sustainable value creation that is inclusive of the broader demands of people, the planet and mutual prosperity.

As VTX plans to share its progress on ESG disclosures in its quarterly updates, the company has engaged Socialsuite to streamline the disclosure and ongoing ESG reporting process. VTX has subscribed to the ESG Go reporting platform of Socialsuite and aims to advance on an array of core and expanded ESG metrics.


 


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