Lake Resources Managing Director Stephen Promnitz discusses how the company is leveraging ESG and what the Biden presidency means for the sector.
Lake Resources (ASX:LKE,OTCQB:LLKKF) Managing Director Stephen Promnitz discussed differences in Environmental, Social and Corporate Governance (ESG) in the space of lithium production. Since Lake Resources’ last update in October 2020, the company has received commitments of A$20 million.
In terms of ESG, the company wants to go above and beyond only reporting its carbon dioxide footprint. Lake Resources is currently working to find a blockchain platform to make its social impact transparent and accessible to the investment community. “When we talk about gender equality and training and innovation in local communities, we can actually stand behind that it’s a key part of our environmental, social impact study this calendar year.” A blockchain platform would allow the company to share information about its total water impact as well.
The rise in ESG rating relevance is only going to increase. According to Promnitz, the level of impact investing or ESG investing in the US has grown from around 15 percent to 30 percent over the past few years. As a clean lithium producer, the company expects to leverage this increase in formal legislation and public pressure for sustainable power.
Watch the video above for the full interview with Lake Resources Managing Director Stephen Promnitz, including his thoughts on the lithium price in 2021 and what Biden’s presidency means for the sector.
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