ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) aims to demonstrate its steadfast commitment to rigorous environmental, social and governance (ESG) reporting, using the Stakeholder Capitalism framework of 21 core metrics and disclosures devised by the World Economic Forum (WEF).
The smart building materials company has committed to full ESG transparency and will report across core ESG metrics on a half-yearly basis, using the Socialsuite technology platform ESG Go to monitor and disclose its progress.
The ESG Go platform will provide an easy way for investors and other stakeholders to assess the commitment and progress of the company on its journey to create “best in class” ESG credentials and outcomes.
ClearVue expects to update the market regularly on its ESG disclosure progress, to ensure that its business remains an impact investment for shareholders and local communities.
Sustainability appointments
The company has also engaged in-house sustainability specialists on a part-time basis to help it progress its ESG aspirations, including internationally recognised sustainability expert Dr Chris Lund, currently Professor in Energy Studies at Murdoch University in WA and founder of carbon and sustainability consultancy, Decarbonology.
Shyam Shivakumar, who recently completed a Master of Renewable and Sustainable Energy at Murdoch University under the tutelage of Dr Lund, will round out the team.
The market should expect a baseline ESG disclosure report in coming months.
Why now?
The company believes its current operating context has been transformed by climate impact, nature loss and social unrest around inclusion and working conditions.
This new global environment is challenging the traditional expectations of corporations and redirecting investment capital.
Global sustainable investment now tops $30 trillion, up 68% since 2014 and tenfold since 2004.
ClearVue is charting a course towards resilience and enhancing its social licence through a greater commitment to long-term, sustainable value creation that embraces the wider demands of people, planet and shared prosperity.
Universal ESG metrics
ClearVue's board has chosen to make its ESG disclosures against the World Economic Forum (WEF) Stakeholder Capitalism framework, a set of common metrics for sustainable value creation captured in 21 core ESG disclosures.
The WEF framework leverages a variety of existing frameworks and is a stepping stone to begin building capacity and capability in ESG reporting, enabling companies to report on core ESG matters of governance, anti-corruption practices, ethical behaviour, human rights, carbon emissions, land use, ecological sensitivity, water consumption, diversity and inclusion, pay equality and tax payments.
“ESG is already baked into the company’s DNA for its products, technology and promise,” head of investor relations Earle Harper said.
“Our customers and end-users are beginning to understand how the ClearVue product can assist them in their decarbonisation goals – whether as part of a larger ESG positioning or as a standalone commitment to responsibly responding to climate change.
Walking the talk
“However, for the company itself to ‘walk the talk’ we understand we need to embrace ESG into our own operations at an internal level, capturing data around our ESG compliance and disclosing it for the world to see.
“To this end, ClearVue has committed to building our own legitimate environmental, social, and governance credentials and have commenced our ESG journey with ESG reporting being a tangible first step along this road.
“Baking ESG considerations into our operations will enable us to better identify material risks and growth potential, leading to better-informed decision making and better business outcomes.
“To commence our reporting journey we have adopted Socialsuite’s ESG Go as a best-in-class solution for small and mid-cap companies to easily start ESG reporting with a structured, standardised, and globally recognised solution in the WEF framework.”