TORONTO, May 31, 2022
/CNW/ - Electra Battery Materials Corporation (NASDAQ: ELBM)
(TSXV: ELBM) (the "Company" or "Electra") today announced the
introduction of a comprehensive set of olicies and frameworks that
underpin the Company's commitment to Environmental, Social and
Governance (ESG) best practices. Approved by the Company's Board of
Directors, the policies cover Human Rights, Supply Chain,
Environment, and Sustainability matters. In support of the rollout
of the policies, the Company is also launching a whistleblower
channel, open for internal and external stakeholders and accessible
from Electra's website (https://electrabmc.com/esg/).
"Given our focus of developing a low carbon, fully-integrated
battery materials park for the North American electric vehicle
industry, it is important that we have stringent ESG policies in
place and conduct ourselves in accordance with industry best
practices when it comes to sustainability, ethical sourcing, and
respect for human rights," said Trent
Mell, CEO of Electra Battery Materials. "The rollout of our
new policies and the launch of a whistleblower channel reflect our
strong commitment to ESG."
HIGHLIGHTS
- Electra's policies are aligned with industry best practices and
assurance standards that will guide Electra's supply chain due
diligence. As members of the Cobalt Institute, Electra is committed
to the responsible production and use of cobalt.
- Electra's ESG Policies will serve as the foundation for the
development of the Company's Sustainability Framework, establishing
systems, goals, performance management and other processes that
will allow Electra to de-risk the business and realize its value
proposition while increasing shareholder value.
- Electra is formally adopting a zero-tolerance policy against
Human Rights abuses, committing to annual supply chain audits in
compliance with the Responsible Mining Initiative (RMI)
Standards.
- Electra is pledging to net-zero direct and indirect greenhouse
gas emissions by 2050. A clear roadmap for achieving these goals is
expected in 2023.
- Consistent with the Company's Whistleblower Policy, Core Values
and Sustainability Framework, Electra is launching a Whistleblower
channel, allowing stakeholders to alert about suspicions of
misconduct in a confidential way. Concerns can be brought forward
anonymously and cases will be investigated until a resolution is
reached.
"Electra is committed to state-of-the-art ESG frameworks and
practices," said Renata Cardoso,
Vice President, Sustainability and Low Carbon. "The development and
approval of these policies represent a major milestone for Electra.
With policies and frameworks now in place, we can turn our focus to
providing training to our employees, engaging with our supply chain
and working on our management systems to track performance in
accordance with industry standards."
Sustainability Framework
Electra has established a comprehensive sustainability
framework, which informs how the Company will establish policies,
guidelines, goals and management systems. This framework is aligned
with Electra's Core Values, as well as with international guidance
and standards.
The Whistleblower channel is an integral part of Electra's
grievance mechanism and enables the implementation of the Company's
Whistleblower Policy and all ESG related Policies. The channel is
an important platform to build trust and promote dialogue in the
communities in which Electra operates. Electra's goal is to pursue
continuous improvement of its sustainability performance,
achievable through transparency and compliance with international
assurance standards.
To access the Company's ESG Policies, Whistleblowing channel and
to learn about our commitments and processes, visit
https://electrabmc.com/esg/.
About Electra Battery Materials
Electra's core strategy is to produce low carbon, ethically
sourced battery materials for the North American electric vehicle
supply chain. Electra is specifically focused on creating the first
integrated battery materials park in North America, providing refined cobalt,
nickel and recycled battery materials to North American battery
precursor manufacturers. Electra also owns the advanced
exploration-stage Iron Creek cobalt-copper project in Idaho, USA.
On behalf of Electra Battery Materials Corporation
Joe Racanelli
Vice President, Investor Relations
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "occur" or "be
achieved". Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance, and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for Electra Battery Materials
Corporation, filed on SEDAR at www.sedar.com. Although Electra
Battery Materials Corporation believes that the information and
assumptions used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by
applicable law, Electra Battery Materials Corporation disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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SOURCE Electra Battery Materials Corporation