Eurasian Resources Group (ERG), a leading diversified natural resources group headquartered in Luxembourg, today announced the establishment of a dedicated Environmental, Social and Governance (ESG) Committee with the aim of fully incorporating sustainability practices into the Group's strategy and decision-making processes.
The new committee will serve as the principal decision-making body in relation to the Group's ESG policies, ensure accountability and provide an in-depth analysis of ERG's ESG projects. It will also be tasked with ESG goal setting and reporting and the development of ESG-related competencies within the Group.
Dr Alexander Machkevitch, Chairman of the Board of Directors at ERG, commented: "ESG has been a focus for the Group for many years, and we are proud of the progress ERG has made in managing and evaluating corporate responsibility which is at the core of the Group's mission. The Committee will not only support our existing environmental, social and governance efforts, but will also guide our investment into new environmental technologies and innovative projects across the regions of the Group's presence".
As part of its ESG strategy, ERG aims to increase its use of renewable energy sources and build on its global efforts to accelerate the responsible sourcing of materials for the energy transition. The Group reports its sustainability initiatives, including ESG activities and efforts in its Sustainable Development Report, produced annually and benchmarked against the United Nations (UN) Sustainable Development Goals (SDGs). The report is also part of its commitment made as a member of the UN Global Compact.
Chaired by Aldiyar Kaztayev, Chairman of the Supervisory Board of Eurasian Group LLP, which operates ERG's assets in Kazakhstan, and First Deputy Chief Executive Officer at ERG, the ESG Committee includes representatives of the Group's senior management across its geographies. Anastasia Kuskova, Head of Transformation and Sustainability at ERG, acts as Deputy Chair of the committee.
Benedikt Sobotka, CEO of ERG, stated: "The establishment of an ESG Committee reflects our ambition to further improve our sustainable performance, something which is becoming increasingly important in the metals and mining industry. This step falls in line with the Group's commitment to engage in responsible business that will create more positive impact for our employees, clients, partners, shareholders, local communities and the environment".