Classic Minerals begins disclosing ESG metrics

Man using computer to analyse ESG metrics.
Man using computer to analyse ESG metrics.

Classic Minerals (ASX:CLZ) has begun disclosing environmental, social and governance (ESG) metrics.

The company has commenced ESG reporting by making disclosures against the World Economic Forum (WEF) Stakeholder Capitalism framework.

The WEF framework is a set of common metrics for sustainable value creation captured in 21 core ESG disclosures.

Classic sees these metrics as the most appropriate ESG disclosure framework to start its ESG reporting journey. The framework uses a variety of existing frameworks and was intentionally built as a stepping-stone to begin building capacity and capability in ESG reporting.

It allows Classic to report on core ESG matters including governance, anti-corruption practices, water consumption, land use, human rights, ethical behaviour, carbon emissions, tax payments, pay equality, ecological sensitivity and diversity and inclusion.

Chief executive Dean Goodwin said Classic is committed to ESG and ESG reporting.

“Classic Minerals is committed to the principles of ESG and building ESG credentials,” he said.

“We are in the process of making ESG disclosures in the form of a set of universal, comparable ESG metrics focused on people, planet, prosperity and principles of governance that organisations can report on regardless of industry or region.

“By integrating ESG metrics into our governance, business strategy and performance management process, we diligently consider all pertinent risks and opportunities in running our business.”

To ensure it can monitor, measure and report on its ESG disclosure progress, Classic has engaged impact monitoring technology platform Socialsuite to streamline the disclosure and ongoing ESG reporting process.  

“We will adopt Socialsuite’s ESG Goto assist in this process as it provides small to mid-cap companies with a platform from which to complete their ESG reporting in a structured, standardised and globally recognised manner,” Mr Goodwin said.

“We use it to track our disclosure progress, demonstrate our ESG performance against the WEF ESG framework, and share our journey of building robust ESG credentials.”