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Uranium is important to the transition to a low-carbon economy
Strong female representation at the management and Board level
The highest levels of safety in the storage of uranium
A skilled, committed and independent Board
Environmental, social and governance considerations are vital to Yellow Cake’s performance and wider impact.
While we do not engage in mining activities or directly handle inventory, we are committed to monitoring and minimising environmental, social and governance risk across our supply chain, particularly those associated with our key suppliers. Our Supplier Standards Policy sets out the Group’s standards in the areas of health and safety, business integrity and legal compliance, labour and human rights, environmental stewardship, treatment of host communities, and reporting.
We conduct annual risk-based due diligence on suppliers and business partners to identify potential risks in their governance, environmental, social and ethical practices. Counterparty due diligence is undertaken before entering relationships with material suppliers and ahead of any material payments being made to existing suppliers. Additional ad hoc counterparty due diligence is undertaken where circumstances give rise to increased risk.
In line with Yellow Cake’s commitment to ESG principles, we commission an annual external and independent risk-based assessment of our primary supplier and business partners.
More detail and key findings can be found in our 2025 Annual Report
Yellow Cake is committed to monitoring and minimising environmental risk at its primary supplier and main business partners.
Yellow Cake is committed to maintaining high standards for employee and stakeholder well-being, including health, safety, equal opportunities and whistleblowing protection. The Group monitors the social performance of its suppliers to ensure alignment with these values.
Mining of uranium has similar social and environmental impacts to the mining of other metals and minerals, and is regulated in terms of local legislation on health, safety and environmental protection.
Uranium ore and U3O8 are mildly radioactive, although prolonged exposure can cause damage. Uranium is handled and contained to prevent inhalation or ingestion as it is toxic chemically. Radioactivity and toxicity increase during concentration and enrichment, which happen later in the nuclear fuel value chain.
Yellow Cake is monitoring the development and adoption of the new sustainability- and climate-related disclosures required by the International Financial Reporting Standards Sustainability Disclosure Standards (IFRS SDS) S1 and S2. As part of the Group’s journey towards reporting in terms of the standards, we started the process of determining climate-related and sustainability-related risks and opportunities and identifying material information to report.
The process included defining the Group’s value chain and conducting a formal materiality assessment to identify climate-related and sustainability-related risks and opportunities in the Group’s value chain that could reasonably be expected to affect its prospects over the short, medium and long term. The materiality process was performed by a multi-disciplinary team led by the Group’s Executive members in consultation with external advisers.
Identified risks and opportunities were subjected to a qualitative and quantitative materiality evaluation to produce a set of prioritised climate-related and sustainability-related matters. The Group’s approach to sustainability governance and risk management was also assessed. The output of the process will be used to develop a more formal reporting framework to enhance sustainability reporting in future periods and move towards reporting in terms of IFRS S1 and S2.
Yellow Cake determines topic boundaries for reporting ESG with reference to the United Nations Guiding Principles of Business and Human Rights and the OECD Guidelines for Multinational Enterprises.
We take into account both direct impacts and indirect impacts arising from our business relationships with suppliers, and define materiality to include topics that affect Yellow Cake’s economic, environmental, and social impacts on stakeholders and society.