Hartshead Resources (ASX:HHR) appoints sustain:able to assist ESG strategy

• Hartshead Resources (HHR) appoints UK-based consultancy sustain:able to assist the company in the development of its environment, social and governance (ESG) strategy and reporting frameworks
• As the company progresses its phase one development, stakeholders will see Hartshead report on specific initiatives to develop its assets as part of its ESG strategy
• Hartshead will work with sustain:able to develop its ESG strategy and reporting in five key areas which include an audit of the company’s current activities in a thorough materiality assessment based on the GRI standards
• The first task will be helping Hartshead address its Scope I and Scope II emissions impact assessment and ensure that the ESG strategy is aligned with the company’s business management systems
• HHR shares are up 8.33 per cents, trading at 2.6 cents

Hartshead Resources (HHR) has appointed UK-based oil and gas focused consultancy sustain:able to assist the company in the development of its environment, social and governance (ESG) strategy, related emission reduction initiatives and reporting frameworks.

As the company progresses its phase one development, stakeholders will see Hartshead report on specific initiatives to develop its assets in a manner which mitigates carbon emissions and minimises environmental impact as part of its ESG strategy.

CEO Chris Lewis said that the implementation of the company’s ESG strategy and reporting requirements “are a critical component of our field development plans within the UK Government’s 2050 net zero strategy”.

Hartshead will work with sustain:able to develop its ESG strategy and reporting in five key areas, including an audit of the company’s current activities in a thorough materiality assessment based on the GRI standards and a selection of an appropriate ESG framework based on the UN Sustainable Development Goals.

The consultancy will also work with Hartsfield in development a full ESG strategy, its implementation, including a focus on building an ESG-aware company and reporting ESG content for annual report inclusion.

The first task will be helping Hartshead address its Scope I and Scope II emissions impact assessment and ensure that the ESG strategy is aligned with the company’s business management systems.

Alignment to the IIGCC (Institutional Investors Group on Climate Change) net zero standards for oil and gas will assist Hartshead in setting their net zero roadmap and meet the requirements of institutional capital whose managers are now increasingly pricing climate related risks into their corporate valuations.

The company has said that its goal is to secure and invest in projects where resources can be extracted and delivered to meet Europe’s growing energy demand while supporting the transition to a low carbon future.

HHR shares were up 8.33 per cent, trading at 2.6 cents as of 12:33 pm AEST.