- Vulcan Energy (ASX:VUL) announces the completion of its ESIA for phase one of its Zero Carbon Lithium project, conducted by ERM
- The ESIA is a prerequisite to the raising of sustainable or “green” debt financing and provides external validation of the project’s commitment to sustainability
- Among the numerous positive impacts highlighted by the ESIA are the provision of renewable heating for local communities and the creation of new jobs in the renewable industry
- The project also received recognition for its carbon-neutral lithium production
- VUL shares are up 0.93 per cent, trading at $2.18 at 10:59 am AEDT
Vulcan Energy (ASX:VUL) has announced the completion of its Environmental and Social Impact Assessment (ESIA) for phase one of its Zero Carbon Lithium project, conducted by ERM.
The ESIA serves two crucial purposes: it secures sustainable or “green” debt financing and provides external validation of the project’s commitment to sustainability.
Among the numerous positive impacts highlighted by the ESIA are the provision of renewable heating for local communities and the creation of new jobs in the renewable industry.
The project received recognition for its carbon-neutral lithium production, an initiative that decarbonises the lithium supply chain, an unprecedented accomplishment within the industry.
The project’s development exclusively utilises industrial and farming land, minimising its impact on the local environment and allowing farming activities to continue undisturbed.
The ESIA also anticipates the creation of dozens of jobs in the energy transition sector, fostering ongoing local innovation and research in green technologies.
“The ESIA has validated the world-leading sustainability and social benefits our integrated renewable energy and lithium project will deliver to stakeholders. Uniquely, our project has no potential impact classed as greater than “minor” post-mitigation and has instead shown a range of positive impacts to both people and the planet,” VUL ESG Leaad Storm Taylor said.
“As a next step, we look forward to implementing the best practice Environmental and Social Management Plan (ESMP) developed, and to engaging with lenders on this matter during the Phase One financing process, which has been initiated.”
To ensure environmental and social responsibility during the project construction phase, a meticulous Environmental and Social Management Plan (ESMP) was developed prior to commencement.
This plan aligns with the recommendations outlined in the Environmental and Social Impact Assessment (ESIA) and adheres to industry best practices.
VUL shares were up 0.93 per cent, trading at $2.18 at 10:59 am AEDT.