Eye on ESG, Aspire Mining (ASX:AKM) vows to plant 10M trees in Mongolia

Highlights

• Aspire Mining has committed to planting 10 million trees in Mongolia’s Khuvsgul by 2030.
• At the COP26 World Leaders Summit of November 2021, the Mongolian President announced plans to plant a billion trees by 2030.
• The Company is working towards a planting program and establishment of a tree nursery in Khuvsgul to meet its commitment.
• The initiative is in line with the Company’s commitments in the Environment Management Plan for its Ovoot project.

In what is likely to boost its Environmental, Social and Governance (ESG) credentials, Aspire Mining Limited (ASX:AKM) has committed to planting 10 million trees in Mongolia’s Khuvsgul by 2030. The initiative is a part of the Mongolian President’s campaign to plant a billion trees in the country by 2030.

The announcement was made at a recent signing ceremony in Ulaanbaatar, which marked the presence of the Mongolian political elite, including the President, Prime Minister and Minister for Environment.

Related read: How well Aspire’s (ASX:AKM) Mongolian coking coal project is positioned amid supply constraints

Signing ceremony marked the presence of Aspire’ MD and the Mongolian political elite

(Image source: Company update, 4 April 2022)

At the COP26 World Leader Summit held last year in November in Glasgow, Mongolian President Mr Ukhnaagiin Khurelsukh announced a national campaign to plant a billion trees to mitigate the adverse effects of climate change and desertification. The campaign reflects the country’s commitment to reducing the impact of planet-wide climate change and to achieving the United Nations Sustainable Development Goals.

Related read: Aspire Mining (ASX:AKM) delivers robust first half amid strong coal prices

Aspire’s 10-million-tree pledge

Aspire is planning to establish a tree nursery to supply plants in the required volume to meet the Company’s commitment. The nursery will be located in the Khuvsgul capital of Murun. The Company has engaged an agri-scientist to develop a planting program and help in establishing the nursery.

Once the nursery is established, it is expected to be a source of tree plantings for future campaigns in the long term.

Related read: Inside Aspire Mining’s (ASX:AKM) March quarter plans for Ovoot project

OCCP - World-class project delivering best-in-class ESG outcomes

Aspire’s 10-million-tree-planting commitment makes up half of the entire Khuvsgul aimag planting campaign. The Company’s initiative aligns with its sustainable development program and environment policies.

Moreover, Aspire is planning to develop its flagship Ovoot Coking Coal Project (OCCP) with robust ESG credentials. The project would utilise renewable power and the world’s best processing technology to solve the issue of Scope 1 and 2 emissions.

The project is being developed in such a fashion that it would provide long-term social and economic benefits for the local community.

Must Read: Aspire Mining’s (ASX:AKM) Ovoot Project gathers steam with recent developments in Mongolia

Share price movement: AKM shares were trading at AU$0.09 at around 12:00 PM (AEDT) on 4 April 2022. The Company has a market cap of AU$45.68 million.