Nickel Industries and XSPI Sign MOU to Further ESG Commitments

Nickel Industries Limited (NIC) and the Cross-Sector Development Partnership Initative (XSPI) have signed a Memorandum of Understanding (MOU) to further their respective commitments to environmental, social, and governance (ESG) practices.

The MoU was signed on the sidelines of the 2nd Nickel Producers, Processors, & Buyers Conference on August 30 to 31, 2023 at Shangri-La Hotel, Jakarta.

The MOU outlines a two-year partnership between NIC and XSPI, during which the two organizations will work together to identify and support social development projects in Indonesia. These projects will be aligned with NIC’s ESG strategy, which focuses on economic development, environmental stewardship, and social responsibility.

The partnership will play an important role in furthering NIC’s ESG approach related to its recently established operation in Central Sulawesi.

The MOU between NIC and XSPI is a significant step forward for both organizations. It demonstrates their shared commitment to sustainability and their willingness to work together to achieve common goals. The partnership is also expected to have a positive impact on the people of Indonesia, who will benefit from the social development projects that are supported by the agreement.

The collaboration between NIC and XSPI is a positive development for the ESG landscape in Indonesia. It shows that businesses and organizations are committed to working together to create a more sustainable future.

XSPI is an Australian initiative focused on improving Australia’s support for development in the Asia Pacific through increased partnership across sectors. The organization believes that increased collaboration between government, business, NGOs, academia and philanthropic/private capital investment is critical to achieving sustainable development outcomes.

Nickel Industries Limited (NIC) is a leading nickel processing business, currently producing someo f the lowerst capital-intensive and most profitable nickel units in the global market in partnership with Tsingshan, the world’s largest stainless-steel producer.

Since its Initial Public Offering, the Company has established itself as a globally significant Nickel Pig Iron (“NPI”) producer and has recently diversified into the ‘Class 1’ (1) nickel electric vehicle (“EV”) battery supply chain by converting some of its current production into nickel matte.

The Company has also recently executed an Electric Vehicle Battery Supply Chain Strategic Framework Agreement (“Strategic Framework Agreement”) with Shanghai Decent to grow and further diversify its production into the EV battery supply chain.

NIC’s Commitment to sustainability is reflected in Nickel Industries’ strategy. Environmental sustainability is a core part of our exisistence and our products are essential for the global energy transition.  The Company sustainability strategy focused on 3 core pillars:

-Economic development: Long-term vision to frow the business in a way that optimally benefits local communities.

-Environmental stewardship: Committed to reducing carbon footprint and developing products essential for the global energy transition and the stability of our operating environment.

-Social Responsibility: Dedicated towards stimulating local socioeconomic development and sustainability contributing to the wellbeing of local communities and the surrounding environment.

The original article ‘Nickel Industries and XSPI Sign MOU to Further ESG Commitments’ in CoalMetal Asia/ September 2023 is accessible here:

https://www.petromindo.com/news/article/nickel-industries-and-xspi-sign-mou-to-further-esg-commitments

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