Information  X 
Enter a valid email address

88 Energy Limited (88E)

  Print   

Wednesday 30 June, 2021

88 Energy Limited

88 Energy Adopts Global Standard for ESG Reporting

RNS Number : 5148D
88 Energy Limited
30 June 2021
 

 

30 June 2021

88 Energy Limited

88 Energy Adopts Global Standard for ESG Reporting

Highlights

· 88 Energy adopts Environmental, Social and Governance (ESG) framework designed by the World Economic Forum (WEF)

 

· Impact monitoring technology company, Socialsuite, a leading provider of Impact Management Systems, to measure 88 Energy's performance across 21 core ESG metrics and disclosures

 

· 88 Energy to report its ESG progress across each sustainability area

 

 

88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM:88E, OTC:EEENF), including its subsidiaries, is pleased to advise shareholders and stakeholders that it is adopting the Environmental, Social and Governance (ESG) framework developed by the World Economic Forum (WEF). This framework is regarded as the global standard for ESG reporting and encompasses 21 core metrics and disclosures.

 

The Company has engaged independent impact monitoring technology provider, Socialsuite, to assist with measuring, monitoring and reporting of these core ESG metrics.  In accordance with best practice ESG disclosure, 88 Energy plans to keep the market updated regularly on its ESG performance and progress as it sets a new standard in measuring the sustainability and ethical impact of the Company.

 

88 Energy Managing Director, Ashley Gilbert, commented: "I am delighted that the 88 Energy Board has adopted this universal ESG framework to measure and report on our performance in these areas.  88 Energy continues to build on its success as an energy explorer on the North Slope of Alaska, whilst also contributing to the development of this region.  We are proud to be introducing the global gold standard in ESG principles to our way of thinking and how we do business."

 

Adopting the global standard

 

88 Energy's Board has resolved to adopt the WEF ESG framework for the purpose of implementing measurement of, and reporting against, performance across each key sustainability area within its business.  The Company has committed to report on ESG factors including governance, anticorruption and bribery practices, ethical behaviour, human rights, carbon emissions, water consumption, ecological sensitivity, diversity, inclusion, pay equality and tax payments.

 

The table below shows the 21 core indicators of the WEF ESG framework.

 

Governance 

People

· Setting purpose

· Governance body composition

· Material issues impacting stakeholders

· Anti-corruption practices

· Mechanisms to protect ethical behaviour

· Integrating risk and opportunity into business process

· Diversity & inclusion

· Pay equality

· Wage level

· Child, forced or compulsory labour

· Health & safety

· Training provided

Planet

Prosperity

· GHG emissions

· TCFD Implementation

· Land use and ecological sensitivity

· Water consumption

· Rate of Employment

· Economic contribution

· Financial investment contribution

· Total R&D expenses

· Total tax paid

 

About Socialsuite

 

Socialsuite is a fast-growing technology provider based in Melbourne, Australia with clients across Asia Pacific, the Americas and Europe including corporations, financial institutions, government agencies, philanthropic foundations, not-for profit groups and NGOs that want to monitor and fully understand how they impact on others. Socialsuite's Impact Management Software helps a diverse range of organisations to monitor the effectiveness of their social investment.

 

Media and Investor Relations:

88 Energy Ltd

Ashley Gilbert, Managing Director 

Tel: +61 8 9485 0990  Email: [email protected]

 

Finlay Thomson , Investor Relations

 

Tel: +44 7976 248471

Fivemark Partners , Investor and Media Relation Andrew Edge / Michael Vaughan

 

Tel: +61 410 276 744

Tel: +61 422 602 720

EurozHartleys Ltd

Dale Bryan

 

Tel: + 61 8 9268 2829

 

Cenkos Securities

Neil McDonald / Derrick Lee

 

Tel: + 44 131 220 6939

 

   

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGZGZVZLNGMZM

a d v e r t i s e m e n t