Uranium Royalty Corp.
Climate Impact & Sustainability Data (FY2023)
Reporting Period: FY2023
Environmental Metrics
ESG Focus Areas
- Governance
- Environment and Climate Change
- Society and Our People
Environmental Achievements
- Developed agreement with property manager to work together to measure our emissions from our corporate office (Scope 1 and 2) in calendar year 2023
Social Achievements
- Donated approximately US$48,000 to community programs
- Achieved Executive Management Diversity of: 33% female and 33% ethnically diverse
Governance Achievements
- Hired VP of ESG & Sustainability
- Conducted a materiality assessment and began implementing a robust sustainability program
- Strengthened sustainability due diligence function for royalty and streaming arrangements
- Strengthened corporate risk management function
- Approved the Company’s official Anti-Corruption Policy and Corporate Disclosure Policy
- 100% employee confirms adherence with Code of Business Conduct and Ethics
- 100% board attendance at six board meetings held in the fiscal year
- Achieved board diversity of 20% female and 20% under-represented ethnicities
Climate Goals & Targets
Long-term Goals:
- Increase female representation on the Board
- Increase our community investments
Medium-term Goals:
- Increase engagement with Operating Royalty Counterparties on sustainability
- Introduce training on anti-corruption
Short-term Goals:
- Quantify scope 1 and 2 emissions (corporate office)
Environmental Challenges
- As a royalty and streaming company, we understand our impact on climate change extends to our portfolio as the indirect emissions of the mining assets for which we have an underlying interests, also known as our financed emissions. As a young company, we have not yet had the opportunity to measure the impact of climate risk on our portfolio nor our financed emissions.
Mitigation Strategies
- In the coming years, the Company will aim to gain a better understanding of our climate risk and financed emissions within the portfolio. As part of our due diligence, we evaluate the maturity of a prospective mining operator in their management of climate risk, including their emissions measurement, setting of science-based targets (“SBT”), and emissions-reduction performance. Uranium Royalty looks favorably on those operators who proactively manage and reduce their emissions that are aligned with SBT initiatives and similar programs.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB