Environmental, Social, and Governance (ESG) Policy
Environmental, Social, and Governance (ESG) Policy
In line with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, Biomason will respect the principles and rights set out in the fundamental conventions identified in the Decla ration of the International Labor Organisation on Fundamental Principles and Rights at Work and the International Bill of Human Rights. This includes the right to freedom of association, the prohibition of forced labor, the elimination of discrimination, and the promotion of a decent working environment.
As of 2025, Biomason will fully embed these considerations into the company’s operations, and Biomason’s Board of Directors will review the ESG policy annually to ensure that it reflects the company’s commitment to responsible business practices.
Commitment: Biomason is committed to acting in the best interest of the environment through all business operations. Biomason complies with current environmental legislation and works to reduce negative environmental impacts and promote sustainability.
- Greenhouse Gas (GHG) emissions & energy usage: Biomason is committed to monitoring and minimizing GHG emissions and aims for the company’s business model to actively contribute to the goals of the Paris Agreement, including achieving climate neutrality by 2050. This includes tracking CO2 equivalent emissions through Scope 1 (Direct GHG), Scope 2 (Energy Indirect), and Scope 3 (Other indirect).
- Monitoring, evaluation, and performance: Biomason’s Sustainability Impact Plan (SIP) governs the monitoring, reporting and recordkeeping related to GHG emissions and other environmental impacts. Biomason reviews and updates the SIP in conjunction with the Sustainability Impact Report as needed. The Product Carbon Estimate is an internal quantitative assessment of the positive impact of Biolith production. Biomason regularly integrates the information from these reports into Board and Executive discussions as part of decision making.
Commitment: Biomason’s goal is to create positive relationships with all stakeholders by investing in the company’s employees to promote professional development as well as health and wellbeing, and engaging in healthy partnerships with customers, communities, investors, and suppliers. Biomason is committed to respecting human rights, occupational health and safety, diversity, equity, and inclusion, anti harassment, discrimination, and offensive conduct, and fair compensation and benefits.
- Respect for human rights, including labor rights: Biomason commits to preserving and promoting the protection of human rights within the Company’s own business activities, as well as those of the Company’s supply chain. Biomason oversees operations to ensure compliance with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. This includes ensuring operations and supply chain do not support modern slavery, human trafficking, child and forced labor, or excessive working hours, and Biomason ensures freedom of association.
- Occupational health and safety: Biomason is committed to providing a safe and healthy working environment by making every effort to comply with relevant health and safety laws and to develop the most conducive operations, procedures, and technologies to create such an environment.
- Diversity, equity, and inclusion (DEI): Biomason is committed to a culture of diversity, equity, inclusion, and mutual respect, as described in the Company’s Diversity, Equity, and Inclusion Policy. Biomason recognizes diversity as all the ways that people are different, including but not limited to race and ethnicity, gender, age, cultural background, class, religion, sexual orientation, disability, language, cognitive differences, or life experiences. Biomason recognizes that these differences shape human identities, influencing individual perspectives and ways of working. Biomason intends to create a culture which is inclusive of diversity, where each individual feels they belong, can thrive, and can thus contribute at the highest level of themselves. In striving for equity – the fair treatment, access, and opportunity for all individuals – Biomason is promoting fairness by recognizing systems of injustice and oppression and unequal distribution of resources and opportunity, and working to mitigate these in organizational processes such as hiring, team engagement and learning, employee engagement, compensation, and partnerships.
- Anti-discrimination, harassment, and offensive conduct: Biomason expects that all employees will respect differences in personalities, goals, backgrounds, and views to provide a work environment based on mutual respect that is free from harassment and discrimination. Biomason decisions, such as on employment, promotion, compensation, and assignments, shall be made without discrimination on the basis of sex, race, color, religion, disability, partnership status, national origin, sexual orientation, gender identity or any other status protected by law, ordinance, or regulation. This is outlined in Biomason’s Open Door, Discrimination & Anti-Harassment Policy.
- Compensation and benefits: Biomason ensures benefits are fair and competitive including parental leave, annual leave, and other benefits. Biomason also ensures all employees are paid a living wage, and screens for gender pay disparities.
Commitment: Biomason is committed to strong governance practices to provide oversight, transparency, and accountability in the organization and preserve the Company’s values. Biomson’s approach to ESG is discussed regularly.
- Legal and regulatory: Biomason’s Executive and Administration department ensures alignment with relevant fair competition and taxation laws within the jurisdictions in which Biomason operates.
- Anti-corruption and anti-bribery: Biomason aims to operate free from corruption and bribery. Biomason promotes communication and training about anti-corruption, assesses operations for risks to corruption, and is committed to taking decisive action should any potential incidents of corruption be identified.
- Supplier Code of Conduct: Biomason has put in place a Supplier Code of Conduct to bring transparency and accountability in the Company’s supply chain. The Supplier Code of Conduct expects suppliers to align to OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.
- Diversity of Biomason board members: Biomason tracks diversity of the board across multiple metrics, including gender.
- Governance: Biomason is committed to high standards of integrity and ethics for all directors, officers, and employees and to adhere to appropriate management practices and control structures. This includes having appropriate Board governance structures in place. Ethics commitments are outlined in Biomason’s Code of Ethics.
- Remuneration: Biomason aims to check and discuss the remuneration of the leadership team members at the Board level every year.
Commitment: On top of outlining Biomason’s ESG considerations, the Company aims to regularly report on these considerations.
- Impact reporting: Biomason provides environmental and impact reporting to communicate the difference the Company is making on people and the planet via a yearly Sustainability Impact Report.
- Diversity Reporting: Biomason provides diversity reporting to communicate information on the representation of minorities in the organization. The report measures demographic characteristics, including gender and race/ethnicity.