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.
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.
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For further information please visit www.savannahresources.com or contact:
Savannah Resources PLC
David Archer, CEO
Tel: 44 20 7117 2489
SP Angel Corporate Finance LLP (Nominated Advisor)
David Hignell / Charlie Bouverat
Tel: 44 20 3470 0470
finnCap Ltd (Joint Broker)
Tel: 44 20 7220 0500
WH Ireland Limited (Joint Broker)
Jessica Cave/ Matt Chan (Corporate Finance)
Adam Pollock/ Jasper Berry (Corporate Broking)
Tel: 44 20 7220 1698
Camarco (Financial PR)
Nick Hennis / Gordon Poole
Tel: 44 20 3757 4980
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".