Investors are increasingly demanding better Environmental, Social and Governance (ESG) performance, particularly from resources and energy companies in Australia. Thus, at the start of 2021, the first six ASX-listed companies began improving their ESG credentials and reporting their progress against the World Economic Forum’s 21 universal ESG metrics, using ‘ESG on-ramp’ technology platform Socialsuite.
The initial six companies to sign up to Socialsuite’s ESG-on-ramp have now completed their baseline ESG report, first quarterly ESG action plan, and continue to report their progress to stakeholders. These early adopters are:
- Euro Manganese Inc (ASX: EMN)
- Vulcan Energy (ASX: VUL)
- Elixir Energy (ASX: EXR)
- Minbos Resources Limited (ASX: MNB)
- Advanced Human Imaging (ASX: AHI)
- Whitehawk (ASX: WHK)
After committing to Socialsuite ESG on-ramp in January 2021, Vulcan Energy (ASX: VUL) secured $120M from ESG investors.
Newly committed Province Resources (ASX: PRL) rose 30 per cent on announcing adoption of ESG reporting and raised $18M including from ESG funds.
Three companies have appointed their first female director since adopting the ESG program and other early adopters report making practical progress against their ESG credentials.
An additional 13 ASX-listed companies recently signed on to ESG on-ramp and have now completed their baseline ESG report and are commencing their first quarterly ESG action plan. These are:
- Province Resources (ASX:PRL)
- European Metals (ASX:EMH)
- Mandrake (ASX:MAN)
- Thomson (ASX:TMZ)
- Alexium (ASX:AJX)
- Pursuit (ASX:PUR)
- FYI Resources (ASX:FYI)
- Oneview Healthcare (ASX:ONE)
- Aldoro Resources (ASX:ARN)
- Synertec Corporation (ASX:SOP)
- MMJ Group (ASX:MMJ)
- Creso Pharma (ASX:CPH)
- 88 Energy (ASX:88E)
These companies have begun reporting on 21 core ESG metrics and will demonstrate their ESG progress over time to investors in quarterly dashboards and action plans to be included in quarterly financial and operational reports to the ASX.