At Ecora we are committed to integrating sustainability
considerations into our strategic decision-making, capital allocation and corporate behaviours, and to providing transparency, where possible, in all sustainability matters in relation to our business. 

While we do not operate any of the assets underlying our royalty portfolio and hence do not control the manner in which operations are carried out, we recognise that we face sustainability risks through the investments we make and that we can use our influence to contribute to good sustainability practice in the mining industry. Therefore, we seek to promote responsible mining extraction and strong management of sustainability issues through a range of mechanisms at our disposal, including our policies, our due diligence on new investments and our ongoing engagement with operating partners.

Being a responsible business means looking after our people and creating a culture of which we can be proud. Ecora Resources is committed to upholding high corporate governance standards as a standard listed company on the London Stock Exchange and we encourage sustainable practices at the industry level. Our Board and employees are committed to championing and embedding the Company’s purpose, values and standards, which are set out in our Code of Conduct. We also aim to be an equal opportunities employer which promotes excellent learning opportunities and celebrates diversity.

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In 2024, we conducted a Materiality Assessment to identify the material issues that our key stakeholders believe we should prioritise.

Marc Bishop Lafleche

Chief Executive Officer

Sustainability highlights 2024

SBTi near term science based emissions target

We have achieved the target of zero Scope 1 and Scope 2 emissions. 

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UNGC membership

This is our third full year as a UNGC participant and we submitted our second Communication on Progress in July 2024.

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MSCI ESG Rating

Rated "AA" by MSCI at the start of 2024.

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Sustainalytics rating

Rated 7.7.

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Engagement with our operators

We continued to work closely with our operators and in 2024 members of our team visited the Mantos Blancos, Voisey’s Bay, EVBC, Mimbula and Phalaborwa projects. 

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Mine sites visited in 2024

Our sustainability framework

We have developed a framework for Ecora’s sustainability strategy that clearly communicates the areas that are of key focus. Our sustainability activities have been divided up to sit underneath two key pillars: Responsible business and Responsible investors. Underneath these we have identified six priority areas under which we will report.

 

Responsible business

Being a responsible business means looking after our people. At Ecora, we promote health and safety, well-being, diversity and inclusion, and continuous improvement and development of our employee culture and skillset. We are also committed to operating our business with the highest standards of ethics and integrity and we proactively seek to align our frameworks with globally recognised initiatives such as the UNGC. 

Responsible business

 

Responsible investors

Long-term value for all our stakeholders can only be achieved through sustainable and responsible investment. We look to finance resources that enable a sustainable future, and to influence others in the mining sector towards sustainable outcomes.

Responsible investors

Materiality Assessment

During 2024 we conducted our first ever Materiality Assessment with the aim of identifying the sustainability risks and opportunities that are deemed most important to
the business by our key stakeholders. Following a tender process, we appointed Ever Sustainable to perform the independent Materiality Assessment.

We adopted a ‘compressed’ double materiality approach aligned with the key principles of ISSB and CSRD. Two phases informed our Materiality Assessment:

  1. Impact materiality: we defined the issues that are relevant to Ecora from an impact perspective and assessed the external impact that our activities may have on the issue.
  1. Financial materiality: we assessed the financial impacts and material effects of each sustainability issue identified in Phase 1.

We outline below the methodology followed to complete the Materiality Assessment:

Detailed review of peer companies’ approach to sustainability and our current policies, activities and disclosures; completed a value chain mapping exercise.

Utilising research alongside a review of sustainability standards and frameworks to identify and develop a list of sustainability issues to be assessed from both an impact and financial materiality perspective.

Key stakeholders, including employees, Board of Directors, shareholders and operating partners’ were engaged through a combination of surveys and interviews to determine our material impact against the agreed issues list. A financial materiality workshop was completed to determine the financial materiality of the sustainability issues.

Results from the impact and financial assessments were analysed to determine the material issues from both perspectives. Information was also collected on what stakeholders perceived as the key sustainability frameworks and ratings for Ecora.

Being a royalty and streaming business, we have a very light direct footprint with 12 employees, primarily based in one head office location. The results of the assessment were therefore broken down to assess impacts from a head office perspective and from the wider investment portfolio of mining projects. The chart opposite shows the issues that were highlighted as being material on either an impact basis, financial basis, or both. 

The results of the Materiality Assessment were endorsed by the Board and it was agreed that we would review the following in 2025:

Value chain engagement – continuing to optimise our operator engagement and due diligence processes as a key means to mitigating sustainability risk at the operational level;

Biodiversity and nature related impacts – review the regulatory and voluntary frameworks for biodiversity disclosures and develop disclosures around these
issues; and

Priority would be given to engaging with, and disclosing under, the ratings agencies and frameworks deemed most relevant by our key stakeholders

Our purpose and commitments 

Providing capital to the mining sector required to
supply the commodities central to a sustainable future.

Next steps

  • Improve our sustainability disclosures by aligning with voluntary frameworks
  • Enhance our contributions to charitable causes and the communities where our operators work

We are committed to:

  • Conducting business ethically
  • Diversity
  • Encouraging international sustainability best practice
  • Engaging with our stakeholders

UN Global Compact and Sustainable Development Goals

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Ecora joined the United Nations Global Compact (UNGC) in February 2022. As a participant, we are committed to voluntarily aligning our operations and strategy with the UNGC’s Ten Principles in the areas of human rights, labour, environment and anti-corruption. As such, in our continued support of the UNGC, we completed our second Communication on Progress describing the practical actions that we have taken and the qualitative and quantitative results of our Company in furtherance of the Ten Principles.

Our Communication on Progress is available on the UN Global Compact website.

Initiatives across our business help advance a number of the United Nations Sustainable Development Goals (SDGs), which were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.

Marc Bishop Lafleche
Chief Executive Officer

Related pages

Responding to climate change
Our strategy
At a glance