TIDMSAV
RNS Number : 6954X
Savannah Resources PLC
06 May 2021
6 May 2021
Savannah Resources Plc
('Savannah' or the 'Company')
New Corporate Environmental and Social Management System to aid
implementation of Savannah's ESG commitments across all its
projects
Savannah (AIM: SAV, FWB: SAV and SWB: SAV), the AIM quoted
resource development company is pleased to announce the development
of a Corporate Environmental and Social Management System ('ESMS')
to aid the delivery of its Corporate Sustainability Policy ('CSP'),
and support an effective implementation of its Environmental,
Social and Governance ('ESG') commitments across its current and
future projects.
Savannah is committed to developing and maintaining a culture of
integrity and proactive health and safety management, social
responsibility, environmental awareness and protection, and good
governance in the conduct of its business. Savannah recognises
that, in order to achieve its ambition of becoming a key
participant in the sustainable and responsible production of raw
materials, it must manage, as an integral element of its
operations, the ESG risks, impacts, and opportunities that may
affect the sustainability of its projects. Its new Corporate
Sustainability Policy and Environmental and Social Management
System will help to define its actions to achieve this goal.
Highlights of the Corporate Sustainability Policy and ESMS
are:
-- Savannah is defining its Corporate Sustainability Policy
which outlines the Company's high-level ESG commitments applicable
to all its activities, in all countries in which it operates.
-- The ESMS will provide the framework within which all ESG
aspects of the Company's activities are systematically identified,
managed, evaluated, reviewed and continuously improved. It aims to
support the delivery of the CSP in a consistent way across all the
Company's subsidiaries.
-- The ESMS will be aligned with internationally recognised ESG
standards, namely the requirements of the International Finance
Corporation's ('IFC') Performance Standards on Environmental and
Social Sustainability, as well as the World Bank Group's
Environmental Health & Safety, Mining and General
Guidelines.
-- As a UK listed entity, the policy will also reflect the
principles and provisions of the Quoted Companies Alliance's
Corporate Governance Code.
-- Savannah's operating subsidiaries will be responsible for ESG
management and performance at their respective projects, through
the development and implementation of project-specific ESMSs,
aligned with the Corporate ESMS, and in compliance with all
applicable ESG-related laws, regulations and permits of the host
country.
-- Third parties operating on Savannah's behalf will be expected to adopt its ESG principles.
-- Savannah mandated Baobab Advisory Ltd ('Baobab') and its
Director, Jose Sa Pereira, to help create the CSP and the Corporate
ESMS.
David Archer, Savannah's Chief Executive Officer said:
"Savannah's Corporate Sustainability Policy will define the ESG
culture and commitment for the whole organisation. We are excited
about implementing this policy across the Company very soon using
the new Corporate Environmental and Social Management System which
we are creating with the assistance of Baobab.
"The Corporate ESMS is a management system framework that
defines our systematic approach to managing the ESG related risks,
impacts and opportunities derived from our activities. It is being
designed to ensure that we systematically plan and schedule our ESG
related activities in accordance with our policies and the
standards we adhere to, and meet our compliance obligations.
"The ESMS approach also supports continuous ESG performance
improvement through the proactive ESG management in our day-to-day
activities, and the measurement and evaluation of our performance
to identify improvement opportunities which can then be planned for
and implemented.
"In addition to ensuring compliance with relevant host country
ESG laws, regulations and permits, Savannah is committed to
managing the ESG aspects of its activities in line with high ESG
standards and international industry best practice. In particular,
Savannah is aligned with the requirements of the IFC Performance
Standards on Environmental and Social Sustainability, as well as
the relevant World Bank guidelines on Environmental Health and
Safety, namely for mining. We will also be adopting the provisions
of the Quoted Companies Alliance Corporate Governance Code and
commit to full transparency with our stakeholders regarding our ESG
performance."
About Jose Sa Pereira - Director at Baobab Advisory Ltd
Jose is an Environmental and Social (E&S) specialist with 23
years' experience in supporting organisations to manage E&S
risks and opportunities across the world. He has worked on projects
from concept to on-site implementation/ construction and operation,
both directly and as a consultant to project developers, Financial
Institutions (as the Lender ' s E&S Officer and the Lender ' s
Independent E&S Advisor), and to the Consent Authorities. Jose
is an external E&S consultant to the International Finance
Corporation.
Regulatory Information
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**ENDS**
Follow @SavannahRes on Twitter
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com
or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
David Archer, CEO
SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470 0470
Advisor)
David Hignell / Charlie Bouverat
finnCap Ltd (Joint Broker) Tel: +44 20 7220 0500
Christopher Raggett
WH Ireland Limited (Joint Broker) Tel: +44 20 7220 1698
Jessica Cave/ Matt Chan (Corporate Finance)
Adam Pollock/ Jasper Berry (Corporate
Broking)
Camarco (Financial PR) Tel: +44 20 3757 4980
Nick Hennis / Gordon Poole
About Savannah
Savannah is a diversified resources Company (AIM: SAV) with two
development stage projects, a hardrock lithium project in Portugal
which has the largest spodumene lithium resource in Europe, and the
world-class Mutamba Heavy Mineral Sands Project in Mozambique,
which is being developed in a consortium with the global major, Rio
Tinto. The Board is committed to serving the interests of its
shareholders and to delivering outcomes that will improve the lives
of the communities we work with and our staff.
The Company is listed and regulated on AIM and the Company ' s
ordinary shares are also available on the Quotation Board of the
Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the
Börse Stuttgart (SWB) under the ticker " SAV".
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END
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May 06, 2021 02:00 ET (06:00 GMT)
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