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GTI Resources commits to becoming carbon neutral

Last updated: 13:00 01 Dec 2021 AEDT, First published: 12:00 01 Dec 2021 AEDT

GTI Resources commits to becoming carbon neutral

GTI Resources Ltd (ASX:GTR) has committed to become operationally carbon-neutral.

Having reviewed options to reduce and offset residual carbon emissions from its drilling program in Wyoming and from ongoing day to day operations, GTR has made the decision to acquire and eventually retire Australian Carbon Credit Units (ACCUs or carbon credits).

GTR has acquired 450 carbon credits from the East Kimberley Nyaliga Fire Project in WA, which was registered as an eligible offset project in 2017 by Nyaliga Aboriginal Corporation.

Carbon credit advantages

There are numerous co‐benefits generated by the creation of the ACCUs, which include environmental, social and cultural advantages.

Further to this, the credit generation is verified and governed by the Clean Energy Regulator.

The number of ACCUs acquired is based on an internally generated, uncertified, estimate of GTI’s carbon emissions during 2021 & 2022.  

The wheels are now in motion for GTR to become certified as Carbon Neutral, with 2022 looking feasible for the company to be able to accurately report its carbon emissions and retire sufficient credits to offset these emissions.

Carbon emissions abatement opportunities

GTR is working to identify potential operational carbon emissions abatement opportunities that may help reduce its future carbon emissions. 

This is a key initiative within its program of Environmental, Social and Governance (ESG) related initiatives.

GTR adopted the globally recognised World Economic Forum (WEF) Stakeholder Capitalism Metrics framework, in a bid to do even more than define an economically viable ISR uranium resource that has the potential to create inherent positive climate impact through zero-emission nuclear power generation.

“The GTI board is committed to best practice governance as defined the World Economic Forum. The WEF ESG framework helped us identify initiatives to improve our governance performance so that stakeholders can be assured that we are meeting expectations and continuously improving in key areas," executive director Bruce Lane said.

"In particular, the company is actively targeting operationally carbon neutrality as it develops its clean energy projects in the US.

“I am grateful that GTI is acting on offsetting and mitigating carbon emissions as we commence drilling for ISR amenable uranium in Wyoming. GTI’s focus is to supply the nuclear power industry which is experiencing strong growth as the world aggressively targets net-zero emissions.” 

The adoption of the WEF framework is already paying additional ESG dividends.

GTR is pursuing a plan to offset its own operational carbon emissions and has moved to increase its commitment to establishing low environmental impact ISR amenable uranium assets in Wyoming, USA.

The company is committed to ensure that its uranium exploration activities remain a positive impact investment for shareholders and local communities.

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