The Objective
The transition from established lithium miner to a downstream resource recovery player in more mature European markets was the catalyst for an ambitious ESG program for Neometals. Spotting emerging trends in the battery value chain, they pivoted the business from upstream lithium mining to give greater focus to their processing technology development endeavours.
Neometals’ Primobius joint-venture, headquartered n Germany, is focused on enabling sustainable processing to recover the constituents of lithium-ion batteries (“LIB’s”). The business model targets the delivery of recycling plant packages and licensing of the associated process intellectual property. Both ‘products’ offer significant commercial benefits for sustainable supply chains and the circular economy.
The obstacle? Most of the LiB manufacturing and end-of-life batteries (read partners) were in Europe where sustainability expectations and policies were far more rigorous and mature. They needed a robust ESG program that met the demands of stakeholders, one that enabled them to successfully compete for projects, secure investment from ESG sensitive investors and achieve compliance with EU battery regulations.
Neometals engaged ESG and sustainability consultants Futureproof Consulting to develop their sustainability strategy and to ensure they were ticking all the boxes to identify and transparently report on their ESG risks, opportunities and year-on-year progress.
The Work
Neometals wanted to build a steady roadmap so that their ESG strategy would grow with their business.
From the beginning, Neometals decided to report against a framework, choosing GRI because it was both well regarded and widely adopted among stakeholders and peers. Important material topics were ranked. Health, safety and wellbeing was paramount. In addition, climate change, material, energy and emissions, community, waste and sustainable technologies were also significant material topics. Neometals and Futureproof prioritised material topics, setting a baseline for measurement and disclosure.
In addition to using the GRI framework, Neometals referenced the United Nations Sustainable Development Goals (UNSDGs) and joined the UN Global Compact, specifically designed for business. Futureproof then guided production and narrative of the Neometals’ sustainability reporting, all based around the circular economy. It allowed them to better communicate the importance of sustainability as one of their core values
The Result
Now in its fifth year of sustainability and climate risk reporting, Neometals has made significant inroads into projects in Europe and North America. Its recycling joint venture, Primobius, is currently building a recycling plant for automotive giant Mercedes-Benz and plans to offer its first large scale commercial plant to its North American licensee, Stelco, in 2025. In 2022, Primobius was a finalist in the German Sustainability Awards, a great achievement.
Neometals continues to expand its green battery materials portfolio, including licensing opportunities with partners for its vanadium recovery technology and its lithium chemical process called ELITM. Their sustainable business model is complemented by a strong ESG program, ensuring the company is well positioned to take advantage of the energy transition and the circular economy.
For more guidance on building an ESG program, chat to a Sustainability Consultant today.
Unlock Precision in ESG & Sustainability Reporting with Futureproof
From ambition to action, we help clients demonstrate their impact through the production of ESG and sustainability reports.
