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What is ESG ?
What is ESG ?
ESG stands for Environmental, Social and Governance, all key aspects of Sustainability. There are various methodologies to assign scores to these three categories, and some investors use Sustainability as measured by these ESG scores as a criterion for investment. Research has shown that about 33% of millennials regard this as an important investment criterion, while only 2% of baby boomers do. Some of the major fund managers have decided to attach great importance to ESG score as a key way of influencing the climate change agenda, influenced also by the fact that fees on ESG funds are higher at least for now.
At ILC we believe deeply in a cleaner, greener planet. This makes us strongly committed to electric cars in cities, thereby greatly reducing the pollution and respiratory diseases caused by petrol and diesel fumes, and also committed to solar power and wind or wave power eventually replacing fossil fuels. Efficient energy storage and transmission are going to be at the core of these goals. No better solution exists at present for battery storage than lithium batteries. Since our corporate focus is on lithium, we believe that is almost self defining for care about the environment. Lithium mining, refining and transportation cannot be without any environmental cost, but the environmental gain is so much greater than the cost.
We also recognise that this transition away from fossil fuels will take many years or even decades, and urge policy makers to recognise this to avoid highly damaging energy shortages in the transition period.
Since our corporate focus is on lithium, we believe that is almost self defining for care about the environment. Lithium mining, refining and transportation cannot be without any environmental cost, but the environmental gain of moving away from hydrocarbons is so much greater than the cost.
The social score of our operations is going to be influenced by our respect for local communities. This includes always being mindful of the integrity of their water supplies.
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