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Environmental, Social & Governance (ESG)

Our commitment to ESG

ESG sits at the core of everything we do. Our Company’s purpose is to provide ethical and sustainable access to zero carbon fuels required to support global growth and the transition to a green economy.

We believe that climate change represents the biggest threat to the global ecosystem in the 21st century, and we at Province are aiming to address the decarbonisation of heavy transport and industry through the production of zero carbon hydrogen products. With ESG reporting we set out to increase the transparency of our overall reporting in an effort to keep our ESG goals on track, and to be able to communicate our progress to internal and external stakeholders, including potential investors.

ESG Metrics and the UN’s Sustainability Development Goals

In 2020 the World Economic Forum (WEF) consolidated a core set of common metrics and disclosures on non-financial factors “Stakeholder Capitalism Metrics” (SCM) to improve the ways that companies measure and demonstrate their contributions towards the UN “Sustainability Development Goals” (SDGs). These metrics provide companies with a roadmap to align the principles of the 4 main pillars in the UN SDGs including Governance, Planet, People and Prosperity.

goals

This roadmap enables companies to measure and disclose meaningful and relevant aspects of their performance on environmental, social and governance matters and their contribution to progress on the SDGs on a consistent and comparable basis.

In March 2021, we started our journey in measuring and disclosing meaningful and relevant aspects of our performance on environmental, social and governance matters and our contributions towards the SDGs on a consistent and comparable basis. Through the Socialsuite platform the Company will provide an easy way for investors to assess the development of the Company’s aim and journey to become a “best in class” ESG Company.

Governance

The definition of governance is evolving as organisations are increasingly expected to define and embed their purpose at the centre of their business. But the principles of agency, accountability and stewardship continue to be vital for truly “good governance”.

Planet

An ambition to protect the planet from degredation including through sustainable consumption and production, sustainably managing its natural resources and taking urgent action on climate change, so that it can support the needs of the present and future generations.

People

An ambition to end poverty and hunger, in all their forms and dimensions, and to ensure that all human beings can fulfill their potential in dignity and equality and in a healthy environment.

Prosperity

An ambition to ensure that all human beings can enjoy prosperous and fulfilling lives and that economic, social and technological progress occurs in harmony with nature.

Providing Disclosure

We understand the importance to maintain transparency with which the Company operates. It’s important that our stakeholders, communities and investors understand what we’re trying to achieve, and the progress we are making – and that the business as a whole, is involved.

New technology is now enabling us a clearer and simpler option to explain our ESG progress to our shareholders, potential investors, and communities. The Socialsuite platform has transformed the way we communicate the work we’re dedicating to ESG. It has helped give us structure, clear actions, and accelerate our ESG journey.

WEF ESG framework

Our ESG disclosure process – Social Suite

At Province we will be continuing to disclose our ESG journey through consistent reporting via the Socialsuite Go dashboard and the Company’s Quarterly Reports, providing a summary on the progress we are making.

ESG Reports

PRL ESG Report FY22.pdf

Province Resources ESG Dashboard

Environment

Materials that power our technology are often sourced under dangerous and polluting conditions. Province is committed to global best practice in safety, employment rights, environmental protection, and accountability. Province Resources will also use all endeavours to ensure its own supply chain does not contribute to human rights abuses, such as using products defined as conflict minerals.

Province’ license areas in Sweden and Australia host a diverse array of flora and fauna. We are committed to ensuring that our activities will not impact on this diversity and hope to have a positive impact on expanding and protecting it. Province is committed to the highest levels of environmental protection through positive engagement with the Western Desert Lands Aboriginal Corporation (WDLAC) and Martu, Yinggarda and Baiyungu people in Western Australia with the Environmental Protection Agency and local municipalities in Sweden.

Province Resources’ Responsibility Commitments outline our intentions to be outstanding corporate citizens locally and globally. Follow the links below for more information on the organizations and standards:

Science Based Targets

OECD Guidelines for Multinational Enterprises

United Nations Guiding Principles on Business and Human Rights

ISO 14001, Environmental Management

ISO 45001, Occupational health and safety management systems - Requirements

1st

green hydrogen company listed on the ASX.

600 kt

of Green Hydrogen to be produced annually

8 gw

of proposed renewable energy power supply