Board of Directors

The Board is primarily responsible for the governance of the Company and shall provide the policies for the accomplishment of corporate objectives, including the means by which to effectively monitor Management’s performance. It is the Board’s responsibility to foster the long-term success of the Company and to sustain its competitiveness and profitability in a manner consistent with its corporate objectives and the best interest of its stockholders.
The Company’s Board is composed of nine (9) Directors, two (2) of whom are Independent Directors. The Company’s CG Manual provides for qualifications of Directors, which allows shareholders to freely choose/nominate Directors coming from diverse professional backgrounds. Every shareholder, regardless of number of stocks held, has the right to nominate candidates for election to the Board of Directors.

All Directors of the Company are required to have a practical understanding of the business of the Company as provided in the Company’s CG Manual.

The members of the Board are elected during the Annual Stockholders’ Meeting based on the list of nominees prepared by the Nominations Committee and sent to the shareholders through the notice of meeting. A majority vote of the shareholders is required for the election of a director.

The Company adopts the definition of “independence” under the Securities Regulations Code.

The Company considers as an Independent Director one who, except for his Director’s fees and shareholdings, is independent of Management and free from any business or other relationships, which could reasonably be perceived to interfere with his exercise of independent judgment in carrying out his responsibilities as an Independent Director.
The Company follows the Term Limits for Independent Directors as provided under Securities and Exchange Commission (SEC) Memorandum Circular No. 4, Series of 2017.

Board Attendance, Appraisal & Training

The Company’s Board has a pre-determined schedule of meetings at the beginning of each calendar year. The Board may also hold special meetings if needed. As necessary, attendance at the Board meetings may be through electronic medium or telecommunications.*Mr. Harvey T. Ang was first elected as a member of the Board of Directors on 03 June 2022.

PositionNameDate of ElectionNumber of Meetings Held during this yearNumber of Meetings Attended%Directorship in Other Publicly-Listed Companies
ChairmanGerard H. Brimo03 June 202166100Security Bank Corporation (Independent Director)
Vice ChairmanMaria Patricia Z. Riingen03 June 202266100
MemberMartin Antonio G. Zamora03 June 202266100None
MemberHarvey T. Ang*03 June 20224*4*100None
Member (from 30 June 2022 to the present)Shiro Imai***28 June 20222**2**100**None
MemberYusuke Niwa03 June 202266100**None
Lead Independent Director (effective 04 August 2022)***Florencia G. Tarriela***04 August 20221***1***100***LT Group, Inc. (Independent Director)
Independent DirectorAngelo Raymundo Q. Valencia03 June 202266100None
Member (from 30 June 2022 to the present)Leonides Juan Mariano C. Virata****28 June 20222****2****100****None
Vice Chairman (until 3 June 2022)*****Philip T. Ang*****04 June 20212*****2*****100*****None
Lead Independent Director (until 29 June 2022)*Jaime J. Bautista******03 June 20224******4******100******None
Member (until 29 June 2022)Masahiro Kamiya*******03 June 2022*******4*******4*******100*******None
Member (until 28 June 2022)Luis Juan L. Virata********03 June 20222********2********50Benguet Corporation

**Mr. Shiro Imai was first elected as a member of the Board of Directors effective 30 June 2022, to serve the unexpired term of Mr. Masahiro Kamiya.
***Ms. Florencia G. Tarriela was first elected as Independent Director on 04 August 2022 to serve the unexpired term of Mr. Jaime J. Bautista. She was also appointed as Lead Independent Director on the same date.
****Mr. Leonides Juan Mariano C. Virata was elected as a member of the Board of Directors effective 30 June 2022, to serve the unexpired term of Mr. Luis Juan L. Virata.
*****Mr. Philip T. Ang was Vice Chairman of the Board of Directors until the expiration of his term on 03 June 2022.
******Mr. Jaime J. Bautista was the Lead Independent Director of the Board until his resignation on29 June 2022.
*******Mr. Masahiro Kamiya was a member of the Board of Directors until his resignation on 29 June 2022.
********Mr. Luis Juan L. Virata was a member of the Board of Directors until his resignation on 29 June 2022.

Board Committees

Audit Committee

The Audit Committee is composed of Ms. Florencia G. Tarriela (Independent Director) as Chair, and Messrs. Angelo Raymundo Q. Valencia (Independent Director) and Shiro Imai as members. The Audit Committee reports to the Board and is required to meet at least once every three months.

Aside from overseeing the internal and external auditors of the Company, the Audit Committee is responsible for assisting the Board in its fiduciary responsibilities by providing an independent and objective assurance to the Management and shareholders of the continuous improvement of the risk management system, business operations, and the proper safeguarding and use of Company resources and assets. The Audit Committee provides a general evaluation and assistance in the overall improvement of the risk management, control, and governance processes.

Mr. Patrick S. Garcia is the Company’s Chief Audit Executive and Assistant Vice President for Internal Audit from May 1, 2020 to the present.

The table below shows the attendance of the members of the Audit Committee at Committee meetings held in 2022:

PositionNameNo. of Meetings Held during this yearNo. of Meetings Attended%
Chairman (until 29 June 2022)Jaime J. Bautista*2*2*100*
Member (from 04 August 2022 to the present)Florence G. Tarriela**2**2**
100**
Member
Angelo Raymundo Q. Valencia
4
4
100
Member (until June 29, 2022)
Masahiro Kamiya***
2***
2***
100***
Member (from June 30, 2022 to the present)
Shiro Imai****
2****
2****
100****

*Mr. Bautista served as Chairman of the Audit Committee until 29 June 2022.
**Ms. Tarriela was appointed as Chairman of the Audit Committee vice Mr. Bautista on 04 August 2022.
***Mr. Kamiya served as a member of the Audit Committee until 29 June 2022.
****Mr. Imai was appointed as member of the Audit Committee vice Mr. Kamiya effective on 30 June 2022 .

Risk Oversight Committee

The Board Risk Oversight Committee is composed of Mr. Angelo Raymundo Q. Valencia (Independent Director) as Chairman, and Mr. Martin Antonio G. Zamora and Ms. Florencia G. Tarriela (Independent Director) as members. Ms. Tarriela replaced Mr. Jaime J. Bautista as Committee member on 04 August 2022.

The Committee assists the Board in its oversight responsibility for the Company’s Enterprise Risk Management, and shall review the effectiveness of the risk management system. The Committee reports to the Board and is required to meet at least once every three months.

The table below shows the attendance of the members of the Board Risk Oversight Committee during its meetings held in 2022:

PositionNameNo. of Meetings Held during this yearNo. of Meetings Attended%
ChairmanAngelo Raymundo Q. Valencia44100
Member (until 29 June 2022)Jaime J. Bautista*2*2*100*
MemberMartin Antonio G. Zamora44100
Member (since 04 August 2022)Florencia G. Tarriela**1**1**100**

*Mr. Bautista was a member of the Board Risk Oversight Committee until 29 June 2022..

**Ms. Tarriela was appointed as a member of the Board Risk Oversight Committee vice Mr. Bautista on 04 August 2022.

Corporate Governance Committee

The Corporate Governance Committee is composed of Mr. Gerard H. Brimo as Chairman, and Mr. Leonides Juan Mariano C. Virata and Ms. Florencia G. Tarriela (Independent Director) as members. Ms. Tarriela replaced Mr. Jaime J. Bautista as member of the Committee on 04 August 2022.

The Committee is responsible for ensuring compliance with and proper observance of corporate governance principles and practices. It also oversees the implementation and periodic review of the Company’s corporate governance framework to ensure that it remains responsive to the Company’s size, complexity, and business strategy. Further, the Committee conducts an annual evaluation of the Board, its Committees and the Management of the Company; and developing and implementing action plans and programs to improve the performance of the Board, Committees, Directors and the Management of the Company. The Committee also performs the functions previously assigned to the Compensation and Remuneration Committee.

The Committee is tasked to establish and maintain a formal and transparent procedure for developing policy on remuneration of the Directors and officers to ensure that their compensation is consistent with the Company’s culture, strategy and the business environment in which it operates. The Committee is also responsible for administering the Company’s stock option policies and plans and for approving bonuses to all employees of the Company and its subsidiaries.

The table below shows the attendance of the members at the Committee meetings held in 2022:

PositionNameNumber of Meetings Held during this yearNo. of Meetings Attended%
ChairmanGerard H. Brimo33
100
Member (until 3 June 2022)
Philip T. Ang*
1*
1*
100*
Member (until 29 June 2022)
Jaime J. Bautista**
1**
1**
100**
Member (since 30 June 2022)
Leonides Juan Mariano C. Virata***
2***
2***
100***
Member (since 04 August 2022)
Florencia G. Tarriela****
2****
2****
100****

*Mr. Ang was a member of the Corporate Governance Committee until 03 June 2022.
**Mr. Bautista was a member of the Committee until 29 June 2022.
***Mr. Virata was appointed as a member of the Committee effective 30 June 2022.
****Ms. Tarriela was appointed as a member of the Committee on 04 August 2022.

Related Party Transactions Committee

The Related Party Transactions Committee is composed of Mr. Shiro Imai as Chairman and Ms. Florencia G. Tarriela (Independent Director) and Mr. Angelo Raymundo Q. Valencia (Independent Director) as members. Mr. Imai replaced Mr. Kamiya as Chairman of the Committee on 30 June 2022. Ms. Tarriela replaced Mr. Jaime J. Bautista as a member of the Committee on 04 August 2022.

The Committee is tasked with reviewing all material and related party transactions of the Company to ensure that such transactions are conducted on terms which are no more favorable than the terms of similar transactions with non-related parties under similar circumstances, and that no corporate or business resources of the Company are misappropriated or misapplied. The Committee is also responsible for identifying potential or actual conflicts of interest and reputational risk issues that may arise from such related party transactions. The Committee further ensures that transactions between and among related parties are properly identified, monitored and reflected in reports to the Board and relevant regulatory authorities. The Committee is required to meet at least once a year.

The table below shows the attendance of the members at the Committee meetings held in 2022:

PositionNameNumber of Meetings Held during this yearNo. of Meetings Attended%

Chairman (until 29 June 2022)*

Masahiro Kamiya*

2*

2*

100*

Chairman (since 30 June 2022)**

Shiro Imai**

2**

2**

100**

Member

Angelo Raymundo Q. Valencia

4

4

100

Member (until 29 June 2022)Jaime J. Bautista***2***2***100***

Member (since 04 August 2022)

Florencia G. Tarriela****

1****

1****

100****

*Mr. Kamiya served as Chairman of the Related Party Transactions Committee until his resignation on 29 June 2022.
**Mr. Imai was appointed as the Chairman of the Related Party Transactions Committee effective 30 June 2022.
***Mr. Bautista was a member of the Related Party Transactions Committee until his resignation on 29 June 2022.
****Ms. Tarriela was appointed as a member of the Related Party Transactions Committee on 04 August 2022, to serve the unexpired term of Mr. Bautista.

Nominations Committee

The Nominations Committee is composed of Mr. Martin Antonio G. Zamora as Chairman, and Messrs. Shiro Imai and Angelo Raymundo Q. Valencia (Independent Director) as members. Mr. Imai replaced Mr. Kamiya as a member of the Committee on 30 June 2022.

The Nomination Committee is responsible for setting qualification standards to facilitate the selection of potential nominees to Board seats and of all nominees to other positions in the Company requiring appointments by the Board, to provide shareholders with an independent and objective evaluation of, and assurance that, the members of its Board and the officers appointed by the Board are competent and will foster the Company’s long-term success and secure its competitiveness.

The Nomination Committee held two meetings in 2022, wherein all members were present.

Sustainability Committee

The Sustainability Committee is composed of Mr. Martin Antonio G. Zamora as Chairman, and Ms. Maria Patricia Z. Riingen and Mr. Angelo Raymundo Q. Valencia (Independent Director) as members.

The Sustainability Committee advises the Board regarding the establishment and review of the sustainability goals, ESG Roadmap and initiatives of the NAC Group, the identification of material ESG issues of the Group’s operations and their impact on relevant stakeholders, and the review and monitoring of the continuous professional development of directors and senior management.

The Sustainability Committee was established by the Board of Directors on 04 August 2022, and held one meeting in 2022. All of the Committee members were present at the said meeting.

Board Advisors

Manuel B. Zamora, Jr.
Frederick Y. Dy
Philip T. Ang

The Board Advisors:

1. Attend Board of Directors’ meetings and meetings of Board Committees as necessary.
2. Provide guidance and suggestions, as may be necessary, on matters deliberated upon during Board and Committee meetings.
3. Provide recommendations and/or key information and materials regarding specific matters being considered by the Board and referred to the Board Advisors.

Executive Implementation

Chairman

Mr. Gerard H. Brimo is the Chairman of the Board of Directors of the Company. The Chairman is responsible for leadership of the Board. He ensures the effective operation of the Board and its committees in conformity with the highest standards of corporate governance. He is accountable to the Board. The Chairman ensures that the Board sets an agenda that is focused on strategy, performance, and accountability taking into consideration the recommendations of the Directors and management. He assures the availability of training opportunities to all Directors, including an orientation program for first-time Directors. He ensures that the Board performance is evaluated at least once a year. Mr. Brimo still has executive functions, and works with the President and Chief Executive Officer (CEO) to develop the strategy for the Company’s future growth, including to identify opportunities for value-enhancing initiatives such as acquisitions and joint ventures, as may be deemed beneficial for the long-term interest of the Company. He will also oversee the Company’s copper-gold initiatives. Mr. Brimo continues to represent the Company in the Chamber of Mines, of which he is the incumbent Chairman.

President and Chief Executive

Mr. Martin Antonio G. Zamora is the President and CEO of the Company. The President provides the leadership for Management to develop and implement sound business strategies, plans, budgets and a system of internal controls. He ensures that the overall business and affairs of the Company are managed in a sound and prudent manner in accordance with the Company’s strategic plan. He also warrants that business risks are identified and properly addressed. He also ensures that operational, financial and internal controls are adequate and effective in order to generate sound and reliable financial and operational information, to maximize the effectiveness and efficiency of operations, to safeguard Company assets and resources, and to comply with all laws, rules, regulations and contracts.

As CEO, he acts a direct liaison between the Board and the Management of the Company.

The President and CEO, together with the Management, has the responsibility to provide the Board with a balanced, understandable and accurate account of the Company’s performance, financial condition, results of operations and prospects on a regular basis. The President also serves as the link between internal operations and external stakeholders.

Chief Risk Officer

Gen. (Ret.) Romeo T. Tanalgo, Vice President-Security and Administrative Services and Officer-in-Charge of the Risk and Assurance Group, assumed the post of Chief Risk Officer effective 01 April 2021. He replaced Mr. Jose B. Anievas who retired on May 31, 2021. The Chief Risk Officer supervises the Company’s Enterprise Risk Management System and spearheads its implementation, review and continuous improvement. He takes the lead in identifying key risks exposure relating to economic, environmental, social and governance factors that may affect the achievement of the Company’s strategic objectives and developing risk mitigation plans for such risks. He communicates the top risks and the status of implementation of the Company’s risk management strategies and action plans to the Board Risk Oversight Committee, and works with the President and CEO in updating and making recommendations to the Board Risk Oversight Committee.

Chief Governance Officer

Ms. Georgina Carolina Y. Martinez, Senior Vice President, Head of the Compliance and Corporate Support Services Group, is the Company’s Chief Governance Officer. The Chief Governance Officer is tasked with ensuring that corporate governance policies are disseminated, adopted throughout the organization and become an integral part of the Company’s culture. In addition, she also ensures that the necessary systems are in place to monitor compliance.

Chief Compliance Officer

Ms. Georgina Carolina Y. Martinez also serves as Chief Compliance Officer of the Company. She ensures the Company’s strict adherence to all laws, regulations, guidelines and specifications relevant to the business.

Auditors

Chief Audit Executive

Mr. Patrick S. Garcia is the Company’s Chief Audit Executive. The Chief Audit Executive is primarily tasked with evaluating the adequacy and effectiveness of the Company’s governance and operations, the reliability and integrity of financial information, the safeguarding of assets, and compliance with laws, rules and regulations.

Partnerships

Philippine Extractive Industry Transparency Initiative (PH-EITI)

The Company is a strong supporter of the Philippine Extractive Industry Transparency Initiative (Ph-EITI). Ph-EITI was established in 2012 following the issuance of Executive Order No. 79 which contains the government’s unequivocal public statement of its intention to implement EITI. The Company’s CEO is a member of the Ph-EITI Multi-stakeholder group, the governing body for EITI implementation in the country comprised of representatives from the government, the business, and the civil society organizations.

Following the Ph-EITI directive, our operating companies submitted to the Independent Administrator of the Ph-EITI the material tax payments, social contributions, and environmental funds and disbursements for the years 2012 to 2014.

The following graph illustrates the total taxes and fees paid by the Company for the years 2014 to 2016, with the breakdown of material payments for EITI reporting and for others not included in EITI reporting for 2014:

Towards Sustainable Mining (TSM)

NAC’s interests are aligned with our stakeholders. Our actions and choices reflect values that are shared with our employees, and the people in the communities where we operate. These include honesty, transparency, and integrity. The Company is committed to protecting our employees, the communities, our customers, and the environment. This is done by institutionalizing mining practices that are responsible, sustainable, and profitable.

NAC maintains an active participation in organizations that shares its values, principles, and advocacies. The Company believes that it has a role in being a responsible corporate citizen, and is part of an industry supporting national progress.

NAC actively supports the initiatives of the Chamber of Mines of the Philippines (COMP); particularly its decision to mandate the adoption of Canadian mining standards, or “Toward Sustainable Mining” (TSM), of its member mining companies. The TSM will ensure that the COMP’s member mining companies are accountable, transparent, and credible, with respect to their mining practices. The TSM standard covers key areas, including tailings management, community outreach, safety and health, biodiversity conservation, crisis management, energy use, and greenhouse gas emissions. NAC also fully supports the COMP's adoption of the Declaration of Commitment to Responsible Minerals Development in the Philippines, otherwise known as “The Baguio Declaration”.

The Company’s management approach is fully aligned with the five (5) main principles of the Baguio Declaration, and its five (5) elements of Responsible Minerals Development:

  • People Orientation
  • Protection and enhancement of the environment
  • Respect for the rights and welfare of indigenous peoples
  • Fair contribution to the National Economy
  • Efficient, competitive, and compliant with international standards

Philippine Mineral Reporting Code

Total Mineral Reserves (1)

OperationMineral TypeClassificationTonnes (KWMT)Tonnes (KDMT)%NI%FE
Contained NI (KT)
Rio TubaSaproliteProved and Probable37,23225,1901.4614.10
368
LimoniteProved and Probable37,09326,1381.1435.83
298
TaganitaSaproliteProved and Probable40,16027,7621.3911.52
386
LimoniteProved and Probable80,08953,6590.9945.79
533
CagianaoSaproliteProved and Probable4,7793,1071.4417.25
45
LimoniteProved and Probable6,8714,4661.0937.50
48
Hinatuan (Taganaan)SaproliteProved and Probable4,4553,0291.3718.41
41
LimoniteProved and Probable2,0901,4210.9349.01
13
DinapigueSaproliteProved and Probable33,54021,8011.4115.19
307
LimoniteProved and Probable27,02017,5631.0246.41
179
Total ReservesSaproliteProved and Probable120,16680,8891.4213.79
1,147
LimoniteProved and Probable153,162103,2471.0443.06
1,071

This summary was prepared by Engr. Aloysiuz Diaz, who is the current Vice President for Operations of Taganito Mining
Coporation and Cagdianao Mining Corporation. Engr. Diaz is a Competent Person under the definition of the Philippine
Mineral Reporting Code (PMRC) and has sufficient experience as to the type of deposit and mineralization. He has given
his consent to the Public Reporting of this statement concerning Ore Reserve Estimation.

Total Mineral Resources (1)(2)(3)(4)

OperationMineral TypeClassificationTonnes (KWMT)Tonnes (KDMT)%NI%FE
Contained NI (KT)
Rio TubaSaprolite5Measured and indicated40,95526,3361.5314.15
403
Limonite5
37,825
26.380
1.16
35.72
306
Saprolite
Inferred
11,870
7,850
1.49
12.86
117
Limonite
2,444
1,705
1.17
33.51
20
Taganito
Saprolite6
Measured and indicated
54.228
37,398
1.53
11.49
571
Limonite6
96,506
64,203
1.00
46.05
640
Saprolite
Inferred
3,044
2,106
1.53
12.73
32
Limonite
794
537
0.90
42.19
5
Cagdianao
Saprolite
Measured and indicated
11,144
7243
1.34
19.72
97
Limonite
9,194
5,976
1.02
40.76
61
Saprolite
Inferred
1.565
1017
128
18.56
13
Limonite
293
190
1.05
36.48
2
Hinatuan (Taganaan)
Saprolite
Measured and indicated
12,206
7,969
1.29
22.64
103
Limonite
4,615
3,014
0.94
48.79
28
Soprolite
Inferred
2,827
1,837
1.27
18.89
23
Limonite
334
217
0.94
48.70
2
Dinapigue
Saprolite
Measured and indicated
41,263
24,503
135
16,80
330
Limonite
87,638
51,752
1.02
43.70
526
Saprolite
Inferred
13,277
7,900
1.26
17.55
100
Limonite
3,717
2,197
0.96
42.52
21
Total Resources
Saprolite
Measured and indicated
159,795
103,449
1.45
14.86
1,504
Limonite
235,778
151,325
1.03
43.29
1,561
Saprolite
Inferred
32,583
20,710
1.38
15.45
285
Limonite
7,581
4,846
1.03
39.35
50

This summary was prepared by Kristine Grace Victoria, who is the current Resource Geology Manager under Ore Resources Management Group of Nickel Asia Corporation. Ms. Victoria is a Competent Person for Reporting Exploration Results and Mineral Resources Estimates under the PMRC. She has sufficient experience which is relevant to the type of deposit and style of mineralization.

1 Mineral Resources and Mineral Reserves tonnages are shown in full. Nickel Asia Corporation owns 60% of Rio Tuba, 65% of Taganito, and 100% of Cagdianao, Hinatuan and Dinapigue operations.
2 Inclusive of Mineral Resources converted to Ore Reserves.
3 Mineral Resources include stockpiles.
4 The Contained Ni does not consider mining losses and dilution.
5 The mineral resource of RTN consists of 2.4 million WMT of saprolite and 7.5 million WMT of limonite within economic zone.
6 The mineral resource of TMC consists of 0.8 million WMT of saprolite and 7.1 million WMT of limonite within economic zone.

Note: Cut-off grades used to estimate Mineral Resources are as follows:

Rio TubaSaprolite: ≥ 1.00% Ni, < 20% Fe
Limonite: ≥ 20% Fe
Taganita
Saprolite: ≥ 1.22% Ni, < 20% Fe
Limonite: ≥ 20% Fe
Cagianao
Saprolite: ≥ 0.90% Ni, < 20% Fe
Limonite: ≥ 20% Fe
Taganaan
Saprolite: ≥ 1.05% Ni, < 46% Fe
Limonite: < 1.3% Ni, ≥ 46% Fe
Saprolite: ≥ 1.3 % Ni, ≥ 46% Fe

Dinapigue
Saprolite: ≥ 1.1% Ni, < 25% Fe
Limonite: ≥ 0.80% Ni, > 25% Fe

Sustainalytics

Sustainalytics is a leading independent ESG and Corporate Governance research, ratings, and analytics firm that provides ESG risk ratings for over 10,000 companies, designed to support investors who integrate ESG and corporate governance information and assessments into their investment strategies.

Since our partnership with Sustainalytics, we have successfully improved our ESG risk rating, reducing it from 43.7 to 34.8. By the end of 2023, our goal is to reclassify into the moderate-risk category.

Nickel Asia Corp. Rating Report

The company is at high risk of experiencing material financial impacts from ESG factors, due to its high exposure and strong management of material ESG issues. Notably, its overall risk is higher since it is materially exposed to more ESG issues than most companies in our universe. The company has experienced a moderate level of controversies.

ESG Risk Rating Distribution

Rank | Percentile (1st = Top Score)
60/223 | 27th
40/184 | 22nd

Material ESG Issues

Issue NameESG Risk Exposure Score | CategoryESG Risk Management Score | CategoryESG Risk Rating Score | CategoryContribution to ESG Risk Rating
Community Relations8.1 High41.2 Average
5.1 Medium
14.7 %
Emissions, Effluents and Waste
8.6 High
45.7 Average
5.0 Medium
14.5 %
Corporate Governance
9.0 High
47.2 Average
4.8 Medium
13.7 %
Resource Use
7.2 Medium
48.5 Average
4.4 Medium
16.0 %
Carbon-Own Operations
5.6 Medium
50.6 Strong
3.3 Low
9.6 %
Occupational Health and Safety
8.1 High
71.9 Strong
2.9 Low
8.2 %
Human Capital
4.5 Medium
39.9 Average
2.8 Low
8.0 %
Bribery and Corruption
5.4 Medium
60.0 Strong
2.3 Low
6.7 %
Land Use and Biodiversity
3.8 Low
53.4 Strong
1.8 Negligible
5.1 %
Business Ethics
2.7 Low
57.0 Strong
1.2 Negligible
3.6 %
Overall
63.0 High
49.2 Strong
34.8 High
100.0 %

Science Based Targets Initiative (SBTi)

The Science-Based Targets initiative (SBTi) is a collaboration between the CDP (former Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The initiative was established to help companies set emission reduction targets in line with the Paris Agreement goals.

Nickel Asia seeks to comply with the Science Based Target Initiative (SBTi) Corporate Net-Zero Standard. By adopting the standard, the main objective is to set a science-based net-zero target consistent with limiting global temperature rise to 1.5°C.