FYI adopts ESG framework for ultra-pure alumina refining

2 minute read

By Trevor Hoey. Published at Jun 7, 2021, in Technology

As major corporations across the globe recognise the importance of adopting a sound ESG platform, emerging high purity alumina group FYI Resources Ltd (ASX:FYI; OTCQB: FYIRF; FSE: SDL) informed the market that it has adopted an Environmental, Social and Governance (ESG) framework, aligning with the 21 core metrics and disclosure requirements created by the World Economic Forum.

FYI will now apply both an ESG and economic overlay to the company to ensure both shareholder and long-term sustainable benefits are gained from the development of its innovative, high-quality, ultra-pure HPA project.

The benefits of adopting these standards can positively impact a company’s investment profile as adhering to an ESG framework is being valued by retail and institutional investors, as well as other important corporate partners such as financiers.

Highlighting the emphasis that is being placed on adherence to these standards, global sustainable investment is now approaching $30 trillion and investors are taking an increasing interest in how a company manages and takes responsibility for its operations and corporate activities.

Integral to high quality, ultra-pure alumina refining

With a view to promoting transparency in this area, management will shortly release its first ESG progress dashboard, including quarterly progressive ESG action plans.

Socialsuite is providing an ESG reporting platform, enabling the measurement and reporting of key sustainable metrics and improvements on a quarterly basis, the first of which will be due shortly.

Discussing the process and how it will align with the successful development of the group’s ultra-pure alumina refining process, FYI managing director Roland Hill said, “FYI’s whole ethos is focused on innovation, quality and improvement of standards as reflected in the successful development of our high quality, ultra-pure alumina refining process.

"As a company, we seek to adopt leading ESG processes, practices and governance standards in a manner consistent with our developing company status and culture.

"We are making positive moves to transition the company to a sustainable model and assist with our contribution in fundamentally reshaping the global economy with a change to our attitude and mindset via the goal to achieve net-zero carbon emissions.”

For more about companies adopting ESG reporting practices read: ASX Companies increasingly adopting this practical ESG standard


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