Sims Metal Management, a global leader in metal and electronics recycling and an emerging leader in the municipal recycling and the renewable energy industries, announced the publication of its 2019 Sustainability Report. The report uses the Global Reporting Initiative standards as guidance and covers topics across environmental, social, governance and financial performance.
Fiscal year 2019 (FY19) was a transformational year for Sims. The company introduced its purpose to create a world without waste to preserve the planet; used its purpose to align its business divisions to further enable the circular economy; and deepened its commitment to improving sustainability inside of the company and with the products and services the company offers.
"At Sims, we create long-term value by providing secure and sustainable management of resources, and we are looking to deliver value to our stakeholders by doing what is good for our planet, as well as what is good for our business," said Alistair Field, CEO and managing director of Sims, in a statement. "While the concept of a circular economy is not new, the drive to make it the standard business model is new, and we are ready to tackle this challenge."
The FY19 report depicts how Sims' integrated growth strategy positions the company as a key provider of services in support of the circular economy to close the resource loop, including its own. The company also shares how the nature of its business brings many benefits to its value chain. Some of those benefits include:
- Sims diverting valuable resources away from landfill, and thereby reducing the demand for virgin raw materials and mitigating greenhouse gas emissions from landfills in an increasingly resource-constrained world.
- Sims including the impact of its operations to mitigate climate change, optimizing the use of natural resources, minimizing waste and preventing pollution.
Highlights from the FY19 report include:
- Recycled 9.8 million tonnes of secondary metals and 400,000 tonnes of electronic waste.
- Processed 500,000 tonnes of municipal curbside recyclables and generated 400,000 megawatt hours of renewable energy generated via its joint venture with LMS Energy.
- Adopted the Task Force On Climate-related Financial Disclosures recommendations.
- Conducted a new materiality assessment to identify the issues that matter most to the business and its stakeholders.
- Increased female representation; 37.5 percent of the board and 25 percent of the executive leadership team are women.
- Realized AUD$27 million earnings through strategic investments in various technologies to extract more value from its intake materials.
"We are at an inflection point, and our society is facing crucial challenges as it navigates an increasingly uncertain and complex world. Understanding this evolving global sustainability landscape is crucial to shape strategy, manage impacts and increase transparency," said Elise Gautier, chief risk and compliance officer at Sims, in a statement. "For Sims, the future is now, and we see the challenge as an opportunity to advance the circular economy, create shared value by partnering for change and grow the business."