Progress in 2023
- Approval of our near-term target by the SBTi for SMEs
- Improved our MSCI rating score from A to AA
- Submission of Ecora’s first UNGC Communication on Progress
- 50% of producing operating partners align with the ICMM principles (6% improvement from 2022)
2024 priorities
- Develop sustainability roadmap supported by metrics and targets
- Submit our Communication on Progress on an annual basis
- Explore further how to monitor, measure and reduce
our Scope 3 emissions
The SBTi approved Ecora’s near-term science-based emissions target for small to medium sized businesses in March 2023. Please refer to the ‘Responding to Climate Change’ sections in the Annual Report for further information, including on Ecora’s ambition to measure and reduce its Scope 3 emissions.
During the course of 2023, the Ecora team engaged with MSCI on the Group’s business model, which led to a change in sustainability rating from A to AA in early 2024. The Group will continue to engage with the ESG rating agencies in 2024.
The Group submitted its first Communication on Progress as a UNGC participant at the end of 2023. Further details of the Group’s submission can be found at: https://unglobalcompact.org/what-is-gc/participants/150805-Ecora-Resources-PLC.
In line with our Sustainability Policy, Ecora seeks to promote responsible and sustainable mining across our portfolio. In order to do so, Ecora endorses the International Council on Mining and Metals’ (ICMM) Ten Principles of Sustainable Development, which promote ethical and sustainable resource development. Ecora also endorses other globally recognised mining standards such as International Finance Corporation Performance Standards, Equator Principles, Voluntary Principles on Security and Human Rights, UN Guiding Principles on Business and Human Rights and the World Gold Council’s Responsible Mining Principles.
In 2022, Ecora started to align its investment strategy with the SDGs. 3. During 2024, the Group plans to explore whether any additional SDGs are aligned with Ecora’s wider business activities and ambitions. Please refer to the Annual Report for an update on our progress against the current identified SDGs.
Senior members of Ecora are members of associations to enhance their personal development in their fields of expertise including, The Institute of Materials, Minerals and Mining (UK), Australasian Institute of Mining and Metallurgy, Society of Mining Engineers (USA), The Investor Relations Society and The World Association of Mining Lawyers.