Improved ESG rating to support project financing process

Evolution Energy Minerals (“Evolution” or the “Company”) (ASX: EV1, FSE: P77) is pleased to announce that it has received an improved ESG rating of “BBB” (ratings range from D to AAA) from Digbee ESGTM (“Digbee”). The improved rating is based on the most recent submission to Digbee which follows Evolution’s initial submission, which produced a “B” ESG rating, as announced on 10 February 2022.

Phil Hoskins, Evolution’s Managing Director, commented: “Our vision is to supply sustainably sourced graphite products and battery materials. We recognise that a commitment to ESG is central to delivering on that vision.

“We signed up to Digbee when Evolution was formed as a means of obtaining an independent and transparent assessment of our ESG performance. Since receiving the initial report from Digbee earlier this year, we have addressed key areas for improvement and made material progress in integrating ESG considerations throughout our business more broadly.

“We recognise the increasing emphasis being placed on ESG by project financiers and capital markets as a key factor in their financing and investment decisions. Working with Digbee is critically important as we seek to position Chilalo for development and align with the requirements of ESG-focused financiers.”

Jamie Strauss, Founder & CEO Digbee commented: “Evolution took action on many of the observations identified in the previous assessment. In addition, management has shown their commitment to further improvements, laying out their vision and reworking areas of their mineplan to reduce their ESG footprint.”

The overall ESG rating of “BBB” is comprised of an assessment at both a project and corporate level, for which Evolution received a rating of “BB” and “A” respectively.

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