Schnitzer Steel Releases Fiscal 2017-2018 Sustainability Report
December 13 2018 - 6:02PM
Business Wire
Makes Strides in Sustainable Practices,
Governance and Community Engagement
Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today announced
the release of its fifth sustainability report, covering fiscal
years 2017 and 2018. Now available
[www.schnitzersteel.com/sustainability.aspx], the report highlights
the sustainability value that the Company delivers as one of North
America’s largest recyclers of ferrous and nonferrous scrap metal,
including end-of-life vehicles, and as a manufacturer of finished
steel products from recycled scrap metal.
By recycling scrap metal, Schnitzer diverts and processes for
reuse millions of tons of materials each year that might otherwise
be destined for landfills. The ferrous and non-ferrous scrap metal
that the Company processes is utilized to manufacture new
metal-based products, conserving natural resources and
significantly reducing greenhouse gas emissions. The Company
estimates that, based on its ferrous scrap volumes in fiscal 2018,
over 4 million metric tons of CO2 emissions were avoided compared
to the use of new iron ore to manufacture steel. This is the
equivalent of taking more than 900,000 cars off the road for one
year.
This enhanced report provides additional details on the
Company’s environmental, social and governance (ESG) achievements
over the two-year period, including year-over-year improvements in
the Company’s normalized sustainability key performance indicators
which have been externally verified and assured for accuracy. In
another enhancement, the fiscal 2017-2018 report is tracked against
the Global Reporting Initiative (GRI) framework.
The Company’s sustainability report shares progress across five
areas: (1) integrity, ethics and compliance; (2) safety, health and
wellness; (3) diversity, inclusion and cultural awareness; (4)
community engagement and partnerships; and (5) environmental
performance and protection. Notable efforts by Schnitzer and our
employees include hosting community scrap drives and supporting
communities and organizations in emergency preparedness and
disaster relief. Moreover, almost 80% of the Company’s electricity
consumption comes from renewable sources, and the Company re-uses
80% of the water at its steel manufacturing operations.
“As one of North America’s largest metals recyclers,
sustainability is at the core of what we do and how we operate,”
said Tamara Lundgren, President and Chief Executive Officer at
Schnitzer Steel. “We are pleased to present our fifth annual
Sustainability Report which describes the multi-year progress we
have made in lowering our carbon emissions, energy consumption,
water usage, and process waste generated on a per ton basis. We are
building on this foundation to do even more in these areas and
others, including investing in environmental control and advanced
processing technologies and increasing the fuel efficiency of our
front-line equipment. Our commitment to sustainable business
practices and further integration of sustainability throughout our
operations are key components of our long-term strategy.”
The past two fiscal years have marked excellent progress for
Schnitzer. “Both fiscal year 2017 and 2018 were exciting years in
our sustainability journey,” said Andrew Naporano, Chief
Sustainability Officer. “As part of our multi-year corporate
sustainability strategy, we continue to decrease our carbon and
process waste generated volumes per ton, and are deploying capital
with a keen focus on making our operations even more
environmentally efficient so we can consistently deliver
sustainable value in the future.”
The Company also established the Sustainability Leadership
Group, which serves as an internal strategic working group to
collaborate on the development and deployment of sustainable and
socially responsible business practices. This cross-functional
group engages leadership across business units, geographic regions,
and job functions to design practical and sustainable solutions and
to engage our employees in the Company’s sustainability
efforts.
Schnitzer has long been recognized for its sustainability
practices. 2018 marked the fourth consecutive year the Company was
recognized by the Ethisphere Institute as one of the World’s Most
Ethical Companies. The award honors those who operate with purpose
and incorporate integrity into their ecosystems.
About Schnitzer Steel
Schnitzer Steel Industries, Inc. is one of the largest
manufacturers and exporters of recycled metal products in North
America with operating facilities located in 23 states, Puerto Rico
and Western Canada. Schnitzer has seven deep water export
facilities located on both the East and West Coasts and in Hawaii
and Puerto Rico. The Company’s integrated operating platform also
includes auto parts stores with approximately 5 million annual
retail visits. The Company’s steel manufacturing operations produce
finished steel products, including rebar, wire rod and other
specialty products. The Company began operations in 1906 in
Portland, Oregon.
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version on businesswire.com: https://www.businesswire.com/news/home/20181213005947/en/
Media Relations:Colin Kelly,
781-873-1665ckelly@schn.com
Investor Relations:Michael Bennett,
503-232-2811mcbennett@schn.com
Company Info:www.schnitzersteel.comir@schn.com
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