Terrafame published its Sustainability Review

Source: www.gulfoilandgas.com 6/17/2024, Location: Europe

Published today, Terrafame’s Sustainability Review describes the main points of the battery chemicals company’s sustainability work and the progress of the sustainability programme in 2023.

Sustainability is at the heart of Terrafame’s operations, and the company believes that systematic sustainability development creates a competitive advantage in the global battery chemicals market. The carbon footprint of the nickel sulphate produced by the company is already the smallest in the industry. Additionally, the company’s unique operating model ensures a fully traceable production process, as the entire raw material supply chain, from the mine to the battery chemicals plant, is located on a single industrial site.

Terrafame’s sustainability work is guided by the company’s sustainability programme, which will be updated over the course of 2024. To provide a basis for the update, Terrafame conducted a double materiality analysis in 2023 to identify the sustainability themes most material to the company from the viewpoint of its stakeholders, such as customers, employees, and local residents. The double materiality assessment took into account the company’s direct and indirect impacts on the sustainability themes across the value chain, including Terrafame’s sourcing and operations from mining to the battery materials plant and all the way to the finished product.

The assessment confirmed that Terrafame already focuses on the right aspects in its sustainability work. The sustainability themes that the company had previously identified as material were also strongly highlighted in the stakeholder interviews: climate change, circular economy, biodiversity, and pollution prevention, as well as Terrafame’s own employees, local communities, and responsible business practices.

Besides the company’s own sustainability programme and stakeholders, the laws and regulations concerning internationally operating companies encourage continuous sustainability development. Terrafame is currently preparing to meet the requirements of the European Union’s Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive, among others.


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