Noble Group Holdings Limited (“Noble”) has become a signatory to the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative to environmental, social and governance (ESG) principles relating to business activities.
William Randall, CEO and Executive Director, said: “We believe running a sustainable business is the only way to thrive in a world that increasingly demands ESG disclosures and transparent sustainability reporting. Doing good, and the right thing, is a business imperative for Noble’s long-term success. Today, companies need to show their business are fit for a clean, more sustainable and inclusive future. By incorporating the Ten Principles of the UNGC into our strategies and daily operations, we are making ourselves accountable in the areas of human rights, labour standards, environmental protection and the fight against corruption. We aspire to support the UN Sustainability Development Goals.”
ESG factors, or sustainability criteria, are increasingly used as inputs in the lending decisions of major banks, and as a positive incentive for granting ESG-linked bank loans. Our plan relating to clearer communication of material sustainability criteria through an annual Communication on Progress report demonstrates Noble’s commitment to show greater transparency.
We are repositioning our businesses and are investing in the supply chains that support renewable energy generation. To meet the ambitions set out in the Paris Climate Agreement, the transition to cleaner renewable energy sources means investing in products that create solar panels and batteries for electric vehicles. Investing in solar farms also represent strong and viable business opportunities. However, the production and processing of vital component materials such as neodymium for wind turbines, lithium and cobalt for batteries could pose severe environmental impacts.
Responsible sourcing is an important focus of our sustainability strategy. As a founding member of the Global Rare Earth Industry Association (GloREIA), Noble is establishing a global association to develop an integrated, de-risked and sustainable value chain for rare earth materials.