NEW YORK, Nov. 16, 2018 /CNW/ -- Sims Metal Management, a global leader in metals and electronics recycling, today announced the publication of its latest Sustainability Report, "One Sims Many Faces." This report details the Company's environmental, social and corporate governance achievements throughout fiscal year 2018 (FY18) and the progress toward its 2020 global sustainability goals.
The FY18 report is aligned with the Global Reporting Initiative's standards for sustainability reporting and organized around the four main categories of the G20 Financial Stability Board's Task Force on Climate-Related Financial Disclosures: governance, strategy, risk management and metrics.
"At Sims, sustainability is, and will continue to be, a cornerstone of our corporate strategy. Not only is it a guiding principle for our Company, but it is also at the heart of our business model," said Alistair Field, Chief Executive Officer of Sims Metal Management. "I'm proud of the progress we've made, and through our contributions to the circular economy, we will continue to work toward shaping a more sustainable world."
Highlights from the FY18 report include:
- Circular Economy: By combining its skill in managing end-of-life products with its global footprint and strong governance, Sims keeps resources in use for as long as possible by extracting their maximum value, and then recovering and regenerating products and materials at the end of their useful life. Sims leverages its expertise in innovation and technology to enhance its contribution to the circular economy.
- Climate Change: The Company recognizes that climate change could have a meaningful impact on its operations and financial performance over time. Sims has begun the process of identifying key climate-related risks to its employees, operations sites and assets, as well as risks and opportunities that may arise with the transition to a lower carbon economy. The Company is committed to continue reducing its carbon emissions and is well on its way to meet its 2020 goal of a 10% reduction from its FY14 baseline.
- Health and Safety: Sims is dedicated to creating a zero-harm workplace, and the Company continues to reduce the number of injured employees. This past year was the safest in Sims' history. During FY18, more than 80% of Sims locations were free of reportable injuries, and the Company has reduced its recordable injuries by 55% over the past five years.
- Community Engagement: Sims strives to be a trusted partner in each of the communities in which the Company operates. In FY18, Sims participated in more than 270 community projects and sponsorships globally. Approximately 86% of the Company's projects correlated to 10 of the 17 United Nations Sustainable Development Goals (SDGs). Specifically, Sims' community projects aligned with the following SDGs: No Poverty, Zero Hunger, Good Health and Well-Being, Quality Education, Clean Water and Sanitation, Industry Innovation and Infrastructure, Reduced Inequalities, Sustainable Cities and Communities, Climate Action and Life on Land.
- Diversity and Talent: Through targeted recruitment and education, Sims promotes a culture of inclusivity. The Company is working to increase diversity globally across each of its business units and has seen 33% and 36% participation from women in its Trainee Management Programme in the UK and its Cadet and Graduate Programme in the Australasia region, respectively. During FY18, Sims launched its Women Working @ Sims employee resource group to inform the Company's approach toward attracting and retaining qualified women.
"Sustainability and corporate social responsibility are fully integrated into Sims' business strategy and culture. Our core business is the closed-loop circular flow of materials, and we are universally recognized as an international leader in the transformation of discarded consumer products into valuable secondary resources," said Elise Gautier Group Chief Risk & Compliance Officer. "This report clearly communicates our sustainability priorities and their importance to our business. The stories and commentary featured in our report show that a sense of purpose is at the heart of everything we do, and our actions must be measured through that lens."
Sims established its first set of long-term sustainability goals in FY09, and they were aggressive targets for energy, water and waste reduction, which the Company exceeded as FY15 approached. The focus of Sims' 2020 goals is on the Company's most material environmental and societal impacts: petroleum use, electricity, water and waste.
The 2020 targets (normalized against production volume) include a 10% reduction in fuel consumption, a 10% reduction in consumption of electricity, and a move toward five percent renewable energy. Other targets include a 10% reduction in water consumption, a 10% reduction in waste generation, and a 100% ban on the idling of mobile equipment in our yards.
Sims is working hard to meet or exceed the majority of its 2020 sustainability goals. The Company has established annual targets, and it will report on its progress accordingly. For more information about Sims' sustainability efforts, view the full report at www.simsmm.com/about-us/sustainability.
About Sims Metal Management
Sims Metal Management is one of the world's leading metal and electronics recyclers with more than 250 facilities, operations in 18 countries, and more than 5,000 employees globally. The Company's ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and its American Depositary Shares are quoted on the Over-the-Counter market in the United States (USOTC: SMSMY). Please visit www.simsmm.com for more information on the Company and recent developments.
SOURCE Sims Metal Management
For further information: Réal Hamilton-Romeo, [email protected], +1 212 500 7435, https://www.simsmm.com