The “Copper Mark” is the leading assurance framework to promote responsible practices across the copper industry that considers the environmental, social and governance issues, from mining to processing, in the copper industry.CEO Kwak Keun-man said, “We will prove that our sourcing is ethical and fulfill our social responsibilities in accordance with international standards.”
BUDAPEST, Hungary, Nov. 6, 2024 /PRNewswire/ — Volta Energy Solutions Hungary (VESH) announced that it has started the process to obtain The Copper Mark, under their assurance process.
The Copper Mark was established in 2019 and is the leading assurance framework in the copper industry’s to ensure that the environmental, social, and governance (ESG) practices are met. In the assurance process, extensive evaluation is conducted in terms of environmental and human rights protection, regional coexistence, and compliance with ethical management from ore mining to production sales of ore products and others. Therefore, it is considered the “ESG assurance process within the copper industry.”
The London Metal Exchange (LME), the world’s largest metal exchange, recommends that companies involved in the copper industry implement a responsible sourcing policy. The Copper Mark is used as a means of ensuring that this policy is carried out, and companies that have obtained this mark are included in the “LME-Approved Brands” list. As of August 2024, more than 360 brands are registered in more than 55 countries for copper cathode, zinc, nickel, etc.
In Europe, where Volta Energy Solutions currently operates battery copper foil and copper foil plants including Hungary, the stability of the resource supply chain is being enhanced by establishing sustainable supply chains and raising standards to meet environmental and social responsibilities. By obtaining the Copper Mark award, Volta Energy Solutions expects that it will be able to secure an advantageous position as a reliable raw material supplier and continue to build stronger business relationships with many global customers.
Kwak Keun-man, CEO of Volta Energy Solutions, said, “Our pursuit of The Copper Mark award is part of our efforts to meet the strict ESG standards of the international community, including Europe and the United States. We will reinforce ESG management through responsible sourcing policies and grow together with global customers in the long term as a sustainable company.”
In addition to pursuing this The Copper Mark award, Volta Energy Solutions is carrying out various ESG activities to meet international standards.
For example, the company has a supply chain management policy to ensure that its product supply chain does not include conflict minerals linked to armed groups in conflict zones. As a global company with several overseas subsidiaries, Volta Energy Solutions is striving to respect human rights, coexist with local communities, and comply with local laws.
About Volta Energy Solutions
Volta Energy Solutions (VES) is a European subsidiary of Solus Advanced Materials (a South Korea-based company listed on the Korean stock market (KOSPI)). Volta Energy Solutions operates its respective subsidiaries in Hungary and Canada. VES’s history back to 1960, when Circuit Foil Luxembourg (CFL) was established in Luxembourg. CFL was the first company to develop copper foil for electric vehicle batteries in 1996. Solus Advanced Materials acquired CFL in 2014 and entered the copper foil business based on CFL’s technological expertise and knowhow. Since 2014, Solus Advanced Materials has been expanding its business presence, establishing a new footprint in Europe with its battery foil plant in Hungary in 2018. Through this strategic movement, VES was established in Luxembourg to manage and expand its global presence further. With the rapid growth of the North American EV market, Volta Energy Solutions Canada (VESC), located in Quebec, Canada, to expand its business presence in the market. For more information, please visit the VES & CFL website at www.volta-energysolutions.com/ www.circuitfoil.com
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SOURCE Solus Advanced Materials
