GTI has evaluated options to offset carbon emissions both from its current drilling program in Wyoming and the ongoing day to day operations of the Company. This evaluation has concluded that the most effective way to offset these emissions is via the acquisition and eventual retirement of Australian Carbon Credit Units (ACCU’s or Carbon Credits). To this end, the Company has acquired 450 Carbon Credits from the Nyaliga Fire Project which was registered as an eligible offset project in 2017 by Nyaliga Aboriginal Corporation and is based in the East Kimberley of Western Australia. The number of Nyaliga Fire Project ACCUs’ purchased was based on an internally generated, uncertified, estimate of GTI’s carbon emissions over the 2 years commencing June 30, 2021.
The Company has started the process of becoming Climate Active Certified and hopes to be in a position during 2022/23 to be able to accurately report its carbon emissions and therefore to retire sufficient credits to offset these emissions. The Company is also working to identify potential operational carbon emissions abatement opportunities that may help offset GTI’s future carbon emissions.