NICKEL ASIA Corp. said it had been accepted as a member of the global sustainability initiative called United Nations Global Compact (UNGC) that looks into a company’s commitment to factors, including human rights and the environment.
Nickel Asia said in a statement on Sunday that it presented its business approach and value system to UNGC in order to be considered as a member.
“This is a huge deal for all of us at Nickel Asia because it effectively binds us to the proverbial umbilical cord of what UNGC represents to the world,” Martin Antonio G. Zamora, Nickel Asia president and chief executive officer, said in the statement.
According to Nickel Asia, UNGC is a sustainability initiative that “supports global companies that are committed to responsible business practices in the areas of human rights, labor, the environment, and corruption.”
It added that UNGC member companies are expected to act in environmentally responsible ways in relation to climate change, water and sanitation, energy, biodiversity, food, and agriculture.
“Companies are also expected to recognize the link between environmental issues, and social and development priorities,” Nickel Asia said.
Jose Bayani D. Baylon, Nickel Asia vice-president for corporate communications, said the standard operation procedures in the company’s mining subsidiaries have been to prepare for the UNGC membership.
“Mining continues to fight in the reputation category and the UNGC will help demonstrate our track record as we publicly report on how effectively we manage environment, social and governance issues,” Mr. Baylon said in the statement.
Nickel Asia’s attributable net income for 2020 rose 51.9% year on year to P4.07 billion due to higher ore export prices.
The company’s total revenues rose 21.5% to P21.77 billion compared to P17.92 billion in 2019. It added that some 10 million wet metric tons (WMT) of nickel ore were exported last year, a 3.9% drop from 10.4 million WMT the year earlier. — Revin Mikhael D. Ochave