On Wednesday 8th, 2021, Hut8 announced its objectives in foreseeing the resolutions for the Environmental, Social and Corporate Governance (ESG) matters. According to a news release to CNW by Hut 8 Mining Corp, the company also plans to achieve a complete carbon neutral status by 2025.
The digital mining company’s long-term strategy is directed towards renewable energy. Furthermore, the company will also involve suppliers to adopt environmentally friendly techniques to help in reducing carbon emissions.
Similarly, the leading miner also shares its objectives to attain its long-term strategies. To achieve the carbon-neutral status by 2025, Hut 8 will control gas emissions from its greenhouses. Consequently, the company will achieve this reality by developing technological and operational innovations to regulate Scope 1&2 gas emissions.
Under ESG, the Nasdaq: HUT will focus its efforts in leading the universe industry towards innovation, inclusivity and sustainability. Quoting from the news release, the chief Chief Officer of Hut 8, Jaime Leverton, said:
“Technology, sustainability, inclusivity and innovation are part of our DNA at Hut 8, and we are proud to lead positive change in our sector, which we hope will build a legacy that our team and shareholders can be proud of.”
Notably, Hut 8 is a champion for gender equality. Consequently, the crypto miner shares that its current board of directors has two women out of the five members. Furthermore, the company structures to accommodate a quarter of its workforce to include women. The executive management team will comprise 40% and 30% of the women on the board of directors.
The Primary Objectives of ESG
Hut 8 has been keen on the growth of ESG under Leverton’s leadership by gradually improving its goals and objectives. These objectives are geared towards the attainment of ESG’s overall goal. On Wednesday, the company shared its objectives towards corporate social responsibilities, which are;
- Achieving carbon neutrality for scope 1 & 2 GHG emissions by 2025;
- Reducing emissions through technological and operational innovation by 2022;
- By 2021, Hut 8 will be fostering workplace health and safety and maintaining zero total recordable incidents;
- Focusing on corporate diversity across employee representation, by 2023, including the goal to achieve 25% employee representation from women;
- Maintaining executive management team gender diversity of over 40% women by 2021;
- Maintaining board gender diversity representation of over 30% women, which will be accomplished by 2021;
- By the end of the year, Hut 8 will partner with communities to;
- Continuing to be compliant with public company reporting and disclosure requirements; and,
- It supports and partners with non-profit and charitable organizations that drive positive social impact and climate change efforts.
On the other hand, HUT 8 is proud to share its ultimate goal. Likewise, the digital miner will gear its long term goals towards public sensitization on renewable energy. Hut 8 will also continuously collaborate with suppliers to reduce carbon emissions.
Who is Hut 8?
Hut 8 is a leading crypto mining company in the market. Additionally, the company is popular for being the highest Bitcoin-solo miner. Additionally, Hut 8 thrives by focusing on crypto markets and engaging in innovative developments.