Candlewick International Corporation Inc. (“Candlewick” or the “Corporation”) is focused on the “Environmental, Social and Corporate Governance” (“ESG”) economy by developing carbon reduction projects with the goal to reduce global greenhouse gas emissions and positively impact the environment. The Corporation recognizes the importance of a strong ESG framework to support this goal. The purpose of this Environmental, Social and Corporate Governance Policy (“ESG Policy”) is to set out the Corporation’s commitment to conducting its business in a socially, environmentally, and ethically responsible manner. The ESG Policy (along with the Code of Business Conduct and Ethics), is fundamental to all business decisions and conduct of operations, including by its subsidiaries, and its directors, officers, employees (whether temporary, fixed-term or permanent) and, where applicable, certain contractors of Candlewick, including consultants and advisors,  collectively, the “Candlewick Representatives”) in order to preserve the reputation and integrity of the Corporation, as well as that of all persons affiliated with it.

The three pillars of our ESG Policy revolve around our adherence to environmental, social, and governance aspects as described below.

Environmental: Our business is focused on developing carbon reduction projects or reduce global greenhouse gas emissions. However, we are also concerned with broader environmental degradation issues and concepts including resource depletion, pollution and waste. As such, the conduct of all business activities will be assessed from a broad environmental perspective including to minimize the Corporation’s energy usage and to maximize the conservation and the sustainability of resources. The Corporation evaluates on an ongoing basis environmental risks and conservation initiatives that it may face and how the Corporation is managing those risks. The Corporation promotes and provides training to its employees to allow for the proper implementation of this policy. This training includes the management, compliance, and support of environmental regulations and initiatives including those of organizations that are aligned with the Corporation’s values.

Social & Diversity: We ensure that all employees and executives regardless of position in the Corporation, are aware and compliant with all aspects of human capital management. These include and are not limited to; preservation and avoidance of any complicity in human rights abuses, equality, and diversity amongst employees, non-discriminatory employment practices, and ensuring there is no exploitation of labor or indentured servitude in working conditions. In addition, adherence and cognizance of the impact of our endeavors on social communities, health & safety will be observed. Diversity and inclusion are guiding principles on how we build and cultivate our environment. To be engaged, we need to ensure that our employees and management feel included and valued. This creates a deep sense of pride, passion, and belonging.

The adherence to the principle of workplace diversity enables our ongoing commitment to excellence, innovation, and social responsibility. Concentrating on all employee relations and diversity and thus enabling the Corporation’s ability to hire, develop and keep employees. To evaluate our on-going commitment, we consider our internal policies, attrition rates, diversity, and inclusion practices. We also continue to evaluate the Corporation’s involvement in gender diversity in the boardroom, senior, and middle management, and throughout the Corporation. We know and understand that different experience, ideas, backgrounds, and perspectives, create a superior work environment for our Corporation and the global business communities we serve. Together we are building an inclusive culture, one that celebrates and encourages diverse voices that drive innovation. We strive to create a corporate culture where differences are valued and to empower people to be their authentic selves.

Governance: There are broad spectrums of considerations in regard to governance including but not limited to: the ongoing commitment to regulatory compliance and corporate hygiene; executive pay, transparency, corruption avoidance, as well as political lobbying. The Corporation needs to demonstrate and adhere to accurate and transparent accounting methods and to ensure that stockholders are given an opportunity to vote on important issues. We will enable the appropriate checks and balances for members of the management team to serve this purpose and monitor its compliance and communication. Our goal is to provide assurances that the Corporation avoids conflicts of interest as related to their choice of board members and activities, attempts to obtain unduly favorable treatment, and constantly ensuring that the Corporation does not engage in any illegal practices.

The Corporation actively monitors the effectiveness of the implementation of the ESG Policy and the guiding principles.

All Candlewick Representatives, individually and collectively, are responsible for the implementation of the ESG Policy. The Compensation, Corporate Governance and Nominating Committee is responsible for actively monitoring and enhancing the effectiveness of the implementation of the ESG Policy.

Annual Acknowledgment

As part of Candlewick’s annual review, Candlewick requires every Candlewick Representative
to annually read and acknowledge this Policy in writing.

Inquiries

Please direct questions as to any of the matters discussed in this Policy to the Corporation’s
Director of Corporate Governance.

Currency of this Policy

This Policy was approved by the Board on March 1, 2022.

Click here to download our ESG Policy in PDF.