Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
The Group is a member of the United Nations Global Compact, which consists of many prominent companies and important stakeholders. The world’s largest voluntary corporate citizenships initiative, the Compact encourages the adoption of Ten Principles in relation to Human Rights, Labour, Environment and Anti-corruption, and supports the UN’s wider development aims including the Sustainable Development Goals (SDGs).
Sustainability lies at the heart of ERG. As part of this commitment, ERG has undertaken to implement the Compact’s Ten Principles and further embed them within its culture, strategy and day-to-day operations. It has also pledged to help drive the attainment of the UN’s SDGs, which are receiving an ever-growing focus across the business.
This initiative is in line with the Group’s wider, longstanding commitment to ensure sustainable production, improve the quality of life for local communities and support multi-stakeholder efforts to achieve a responsible supply chain.
Progress regarding ERG’s efforts to support the Ten Principles will be reported on annually:
ERG is a member of the World Economic Forum’s Partnering Against Corruption Initiative (PACI). This cross-sector, agenda-setting platform works with industry leaders, international organisations and governments to tackle corruption and help bridge gaps in transparency and trust between public and private stakeholders. The platform is particularly focussed on risks in relation to the Fourth Industrial Revolution from the perspective of emerging market economies.
In this context, ERG is a participant in PACI’s ‘The Future of Trust and Integrity’ project, which identifies and develops practical solutions through behavioural change, organisational innovation and the adoption of technology.Link to PACI page
An international, cross-sector, public-private coalition developed on the World Economic Forum’s platform, of which ERG is a founding member and Mr Benedikt Sobotka a co-chair, is aiming to ensure that there is a responsible global supply chain for lithium-ion batteries where cobalt is an essential ingredient. ERG sits on the executive board of the Global Battery Alliance and co-chairs its supervisory council.
Launched at the inaugural World Economic Forum Sustainable Development Impact Summit in September 2017, the Alliance is an international, cross-sector, public-private coalition, consisting of over 40 international organisations and businesses. This Alliance aims to ensure that there is a responsible global supply chain for lithium-ion batteries that help power the Fourth Industrial Revolution and facilitate the transition to a low-carbon economy. Alongside leading businesses including Volkswagen, BASF and Enel, ERG regularly participates in events, through which it helps drive global dialogue and action.
Over the past two years, ERG has deepened its involvement with the Alliance, working to consistently demonstrate its commitment through a host of initiatives. ERG is also a member of the Alliance’s Executive Board, Cobalt Working Group and Battery Passport working group..
Cobalt plays an instrumental role in helping power the Fourth Industrial Revolution and the transition to a low-carbon economy but sourcing it may come with its own set of challenges. Through its industry leading position and in the context of the Alliance, ERG is committed to helping tackle these challenges and ensure that the increasing demand for cobalt is met in a responsible manner.Link to Global Battery Alliance
The Fund seeks to address the issue of child labour in DRC’s cobalt mines by strengthening communities and addressing the root causes of the problem. Through a multi-sectoral package of interventions, the Fund -supported projects will contribute towards alleviating poverty (SDG 1 No Poverty), strengthening social services for children, supporting responsible production and consumption (SDG 12) and getting children out of mines (SDG 8 Decent Work and Economic Growth). Activities will focus on mining communities in DRC’s copper belt across 6 health zones with an initial target of US$21 million over a three-year period. The Fund is administered and programmed by UNICEF and implemented in cooperation with government entities and civil society organizations with a local presence in the DRC.
Benedikt Sobotka, CEO of ERG and Co-Chair of the Global Battery Alliance: “Eurasian Resources Group is proud to be contributing to the Fund for the Prevention of Child Labour in Mining Communities. The Global Battery Alliance Collaboration will support projects in the DRC to strengthen communities and address the root causes of child labour. We encourage industry participants and stakeholders to join us in this mission and also pledge their support to the Fund. We can only address this challenge together.”