Environmental, Social & Governance
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 Frameworks and Standards
In March 2021, we started our journey in measuring and disclosing meaningful and relevant aspects of our performance on environmental, social and governance matters using the World Economic Forum’s Stakeholder Capitalism Metrics. We are now broadening our ESG reporting scope to align with relevant global frameworks such as the Global Reporting Initiative (GRI) and the International Financial Reporting Standards sustainability standards IFRS S1 & S2.
The interoperability of GRI provides us with an opportunity to align with other relevant standards including the Equator Principles, the UN Global Compact, UN SDGs and many more.
This will allow us to cover a broader spectrum of ESG issues, from environmental impact and climate risks to social responsibility and ethical governance. This comprehensive approach is beneficial not only for us in terms of transparency and accountability but also for our stakeholders who are seeking a deeper understanding of our impact on society and the environment.
Governance
The governance processes, controls and procedures the entity uses to monitor and manage sustainability-related and climate-related risks and opportunities.
Strategy
The approach for addressing sustainability-related and climate-related risks and opportunities that could affect the entity’s business model and strategy over the short, medium and long term.
Risk Management
The processes the entity uses to identify, assess and manage sustainability-related and climate-related risks.
Metrics and Targets
The information the entity uses to assess, manage and monitor its performance in relation to sustainability-related and climate-related risks and opportunities over time.
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.
Our ESG Reports
At Province we will be continuing to disclose our ESG journey through consistent reporting via Annual ESG reports and the Company’s Quarterly Reports, providing a summary on the progress we are making.
ESG Reports
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
Carnarvon
supporting local communities.
600 kt
of Green Hydrogen to be produced annually
8 gw
of proposed renewable energy power supply