- Eloro Resources has recently published its ESG program, the next step on its journey toward creating sustainable long-term value for its shareholders
- The policy lays out the company’s objectives within the fields of corporate governance, corporate social responsibility and environmental production
- Eloro Resources has increasingly looked to align its operations with the requirements of its growing stakeholder base
- The company is set to publish its inaugural ESG report in 2023
Mining companies are increasingly seeking to embed sustainability in the way in which they do business as well as across their corporate strategies. Similarly, Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec, has recently published its ESG program, setting out its commitment towards creating sustainable long-term value for its shareholders by adhering to the best practices in corporate governance (https://ibn.fm/Yw6vw).
A study carried out by consultancy PwC during the Covid-19 pandemic found that mining companies boasting higher ESG ratings outperformed the broader market, delivering 34 percent average total shareholder returns over the preceding three years – ten percentage points higher than the general market index (https://ibn.fm/Olye5). Improved corporate governance, which tends to manifest itself via superior market returns, can also act as a direct corollary towards increased institutional investor interest. Global ESG-linked assets under management are currently on track to grow to $33.8tn by 2026, up from a mere $18.4tn in 2021 – implying that ESG assets are on course to constitute 21.5% of total global AuM within a span of less than 5 years (https://ibn.fm/SN82x).
Eloro Resources has sought to align its strategy with the interests of its stakeholders, recently elaborating on the measures the company is seeking to undertake within the areas of corporate social responsibility, environmental protection, community engagement, health and safety, and corporate governance. In addition to its broader ESG framework, Eloro has established a set of policies with respect to ethical business practices, personal conduct, competition and fair dealings, and disclosure of information that describe its commitment towards promoting effective functioning of personnel and improving corporate performance (https://ibn.fm/9XpI1).
As a result of the above, all directors, officers, and direct and indirect employees are subject to the company’s anti-bribery and anti-corruption policies. In addition, the company has sought to promote an inclusive culture, in the belief that a board and employee base made up of highly qualified individuals from diverse backgrounds may be a means towards enhancing the corporation’s performance by recognizing and utilizing the diverse combination of skills and talents that such a workforce affords.
Whether it relates to the company’s dedication to the local population – 100% of the on-site team is Bolivian; a commitment towards community empowerment – Eloro sponsors regional schools and sports teams in addition to running technology-focused workshops for women; or, taking the necessary measures to ensure its operations are responsive to the environmental needs of nearby communities, Eloro Resources has increasingly sought to translate its ESG-linked ambitions into practice.
Now and as part of the company’s commitment towards the continuous improvement of its governance practices, Eloro has announced that it is planning to complete and publish the corporation’s inaugural ESG report in 2023 – a milestone that follows the publication of the company’s initial mining resource estimate (“MRE”) in the fourth quarter of 2022.
For more information, visit the company’s website at https://elororesources.com/ or view its ESG policies at https://elororesources.com/esg-program.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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