Our approach to sustainability underpins our investment process when evaluating potential investment opportunities.
We assess potential investment opportunities against our sustainability due diligence framework
and ensure all our investments meet certain sustainability criteria. As a result, we continue to decline royalty and stream investment opportunities due to sustainability related issues.
Due diligence for potential royalty and stream transactions
We recognise that as a royalty and streaming company, the most critical time for assessing and mitigating risks, including sustainability risks, relating to our underlying assets is at the outset prior to entering into any royalty or stream agreement. Before completing any new investment, we undertake a thorough due diligence process using our sustainability risk due diligence framework. The due diligence process is tailored to each opportunity using a risk-based approach, varying based on the jurisdiction, counterparty and commodity, whether the project is an exploration, development or producing project and whether it is a primary or secondary royalty or stream transaction. The Ecora team has many years of collective experience of carefully evaluating the risks, opportunities and long-term viability of potential projects and examining financial, technical, legal and sustainability factors, often supported by third-party industry experts and consultants.
We continually review our sustainability due diligence framework to ensure that our approach and assessment tools continue to reflect industry best practice. In 2025, we updated our sustainability due diligence framework to ensure alignment with the findings and results of our Materiality Assessment (conducted in 2024).
The key areas of interest for our stakeholders were on biodiversity-related issues and value chain engagement. We undertook a thorough review of our due diligence framework to identify areas for improvement, including for efficiency and optimising the tool further for varying stages of project development and investment. Our biodiversity-related diligence was a key area of focus, where we updated our assessment criteria in line with the latest sustainability expectations and industry best practice such as the ICMM Principles on conservation of biodiversity and the Taskforce on Nature-related Financial Disclosures.
In 2026, we will implement the use of our updated sustainability due diligence framework when assessing investment opportunities and continue to review its effectiveness in line with industry expectations and best practice.
Our investment decision making involves the following key steps:
We employ rigorous screening tools and strict investment criteria to evaluate initial investment opportunities.
We use a tailored and detailed due diligence framework to assess the full range of sustainability risks facing particular assets.
We assess potential investments using a set of qualitative and quantitative criteria, which look at the level of a particular sustainability risk and the way in which it is being managed.
Our screening and due diligence tools are regularly reviewed and updated to ensure that they continue to reflect the most up‑to‑ date developments and mining industry best practice.