Galan Lithium Limited recognises that its responsibilities are long-term in nature, and that the long-term prosperity and wellbeing of its shareholders depend on a healthy environment, social cohesion and good governance within the organisation. Galan believes that environmental, social and governance (ESG) issues and other sustainability considerations are incredibly important in the context of optimising value for our shareholders as well as preserving and enhancing Galan’s corporate reputation.
The Board aims to improve the long-term sustainability of the Company through the integration of ESG issues and risk as part of its project governance framework and continues to incorporate dialogue with relevant stakeholders on a broad basis.
ESG refers to the following significant criteria which have a material impact on the long-term performance of the Company:
- Environmental – matters that affect the natural environment such as climate change, biodiversity, waste, water and resource use, pollution and mine closure.
- Social – matters that affect personnel, suppliers, customers and communities such as human rights, land use, employment, labour practices, safety, health and diversity.
- Governance – matters that show how the Company is run and what it values such as corporate governance, ethics, compliance (including taxation), transparency, anti-bribery and corruption.
The Company, wherever possible, aims to adhere to the following ESG principles:
- Seek to integrate ESG issues in the day-to-day operations of our projects
- Seek to have project partners that make appropriate ESG disclosures
- Seek to integrate ESG issues into project investment decisions
- Seek to integrate ESG issues into strategic planning and risk management
- Seek to ensure ESG systems and process are effective and that our people have the appropriate ESG skills, tools and resources at their disposal
- Committed to transparency and reporting of ESG activities including the setting of appropriate ESG targets
In 2021, Galan engaged Circulor as a partner to commence ESG traceability for all its lithium brine projects in Argentina.
Circulor is the leading sustainable supply chain traceability provider, headquartered in the UK, with a global footprint including Germany, Singapore, and Australia. It enables businesses to fully analyse, track and manage their supply chains to support responsible sourcing and improve sustainability. It does this by providing an enterprise software platform, which creates a reliable chain of custody of materials and attaches sustainability and other ESG data to that flow of materials.
More recently, the Company has been building on its ESG frameworks, foundations and policies by engaging Socialsuite to assist with Galan’s corporate focused ESG journey.
During the peak of the pandemic, the people of Argentina was severely impacted. Galan proudly assisted and donated five (5) critically needed ventilators to the local health authorities in Catamarca to assist in their fight against Covid-19 (see below).