Bannerman's Inaugural Sustainability Report - shareholder perspectives

Today we released Bannerman's inaugural Sustainability Report.

Bannerman's first Sustainability Report provides a comprehensive overview of our sustainability strategy, which is built on three key pillars: People, Planet, and Performance. These pillars are how we think about what has become known as ESG.

Releasing our inaugural report is an important milestone in profiling the great work Bannerman's team has been doing in Namibia for over a decade, long before ESG concepts came into vogue with the investment community. 

Most uranium investors understand the business case for earning a solid social licence and building strong and enduring relationships within our host community in Namibia.  However, I also understand that some of our shareholders will be surprised to see a glossy document that differs from the austere approach we have taken to reporting and expenditure since I became CEO in 2016.

I'm delighted to be able to take Bannerman shareholders through our thinking on this report. I will explain why I am proud of this report and, more importantly, what it stands for and how it positions Bannerman amongst its uranium peers.

How did we approach our inaugural report?

I take great pride in the fact that this report is an internally written and produced document.  

A quick scan of the various sustainability reports issued by uranium companies shows there are two distinct approaches: those that have outsourced their reports to consulting firms and those that chose to develop their own reports internally.

We wanted to challenge this characterisation and produce a report internally that is every bit as good as a lavish consultant-made document.

Why did we do this?

Firstly, I believe that sustainability is an area where you simply must be authentic.  The effort that we put into the report reflects the degree of interest and passion that our employees have for the subject.  Whilst it is tempting to avoid distraction by writing a cheque to a big firm to make something beautiful - and, believe me, this approach was rather tempting over the last few months - this is not how we roll. 

I'd hope you agree that our team has written and published a sustainability report that stands proud amongst all junior uranium companies.  But more importantly, I want readers to be left with an understanding that Bannerman leads our peers when it comes to responsible investment of shareholder resources to support a carefully developed and strategic approach to people, planet and performance.

Secondly, we have a preference for investing in internal capability, provided the same degree of quality can be achieved compared with buying in from service providers. Our experience with investor relations and social media gave me the confidence that we have sufficient smarts in our own team. 

Finally, it was crucial that our Sustainability Report appealed to both the hearts and minds of our audience.  The audience for this report is extremely broad, ranging from Namibian job seekers to wealthy fund managers, from conservationists to bankers, from government technocrats to journalists.  With such vast differences in the local understanding, education and objectives of our readers, we decided as a team that we needed to take full ownership for the content and messaging that we provided.

From the perspective of moving our Etango Uranium Project towards production, the report is an important document for positioning Bannerman Energy. It is an opportunity to articulate what we are achieving in sustainability for a range of stakeholders: potential financiers, our customers and industry partners, consultants and suppliers, prospective employees, government agencies and our industry peers. 

Below you will see an overview of each pillar of our report: People, Planet and Performance. 

If you would like to get straight into the full report, you can see it here.

People

Ensuring the well-being of our employees and our host community

Our People pillar is of utmost importance as we believe that the well-being of our employees and the communities where we operate is essential to the success of our business. Our comprehensive approach prioritises health and safety, sets high standards and procedures, and implements effective emergency preparedness systems. We also strive to engage with our stakeholders in a collaborative manner to continuously improve our contributions to local socio-economic development.

Read 'Pillar I: People' here.

Recipients of Bannerman Early Learner Assistance program 2023 from Oruseu Primary School, Kunene, Namibia

Planet

Minimising our environmental footprint and preserving Namibia’s natural resources

The Planet pillar is dedicated to minimising our environmental footprint as a business and preserving Namibia's natural resources for future generations. It is crucial to manage waste effectively and responsibly, ensuring that we curtail our contribution to GHG emissions and help to combat risks of climate change. We also prioritise the protection of the environment, including the promotion of biodiversity and responsible tourism practices. Therefore, we have implemented measures to limit our environmental footprint, such as mitigating impacts, reducing our carbon emissions and committing to use desalinated water.

Read 'Pillar II: Planet' here.

Remediation of drill sites in the Namib desert

Performance

Achieving sustainable growth and creating value for our stakeholders

The Performance pillar is the cornerstone of our organisation. To achieve sustainable growth and create value for our shareholders, employees, community, and other stakeholders, we prioritise financial performance and operate with the highest levels of ethical standards, transparency, and accountability.

Read 'Pillar III: Performance' here.

Finally, as a fellow shareholder I would like to acknowledge the key contributors on your behalf.  

I am proud that our inaugural Sustainability Report is the result of the broad talents of our world-class team, without needing to engage an external firm to write the copy, select pretty stock images or decide what we do well. The text and technical content was written by Jim Bawden (Sustainability Manager), Olga Skorlyakova (VP Market Strategy - a role that draws on her qualifications in Sustainability) and Alison Terry (Non-Executive Director, Chair of our Sustainability Committee).  Design was led by Emma Culver (Communications), working with Namibian designer Andrea Leech, who I have worked with for more than ten years. Technical input was provided by Werner Ewald (Managing Director - Namibia) and Gavin Chamberlain (Chief Operating Officer). Most of the photographs were sourced from our own employees. Of course, our non-executive directors took an active interest, reading the report and providing input based on their own experiences in this domain and as resources investors.

I encourage you to make a coffee and read through our 2023 Sustainability Report, which you can view in a magazine reader here.  I hope you enjoy our sincere efforts to show the world how well your company performs in the ESG arena.

We value shareholder feedback that can be considered and actioned for our next report.  If you have a perspective to share, please provide to me or to Emma Culver (shareholders@bmnenergy.com).

Thank you for your continued support.  Shareholders are the most important enablers of our business and the positive contributions profiled in this report.

Regards,
Brandon