Radius Recycling Publishes Fiscal Year 2023 Sustainability Report
December 13 2023 - 9:15AM
Business Wire
Schnitzer Steel Industries, Inc. dba Radius Recycling (NASDAQ:
RDUS), a global leader in metals recycling, today announced the
release of the Company’s Fiscal 2023 Sustainability Report, Where
Change Begins.
The report details the Company’s work to advance the circular
economy through the recovery, reuse, and recycling of the essential
metals required to support global decarbonization efforts. Radius
annually diverts millions of tons of metals from landfills,
supplies recycled metals to domestic and international customers,
and produces some of the lowest carbon emission finished steel
products available. The report also showcases the Company’s
progress towards its multi-year sustainability goals, including
achieving its greenhouse gas emissions reduction target – two years
ahead of schedule.
“Nearly 10 years ago, we created a sustainability framework
based on three pillars: People, Planet, and Profit. This framework
is the foundation of our sustainability strategy and continues to
deliver meaningful impact to all our stakeholders,” said Tamara
Lundgren, Chairman and Chief Executive Officer.
“In 2023, we also unveiled our new corporate name, Radius
Recycling, to better reflect our work as we advance our
sustainability goals by supporting our employees and communities,
implementing best-in-class environmental infrastructure and
processes, and expanding our operating platform,” continued
Lundgren.
“Our achievements this year would not have been possible without
all our employees living our Core Values of Safety, Sustainability,
and Integrity and operating with the agility, resilience, and
collaboration that have underpinned our success. I am immensely
proud of what our team has accomplished.”
Selected Highlights from Radius Recycling's 2023
Sustainability Report:
- Recycled 4.7 million tons of ferrous and nonferrous metals,
sold 4 million recycled auto parts, and produced 521,000 tons of
low carbon emission finished steel products
- Increased sales volumes of nonferrous material recovered from
our shredding operations by 7%, supported by our advanced metals
recovery technology systems which enable us to increase recycling
and reduce waste, improve the efficiency of our processes to meet
global metal content and quality requirements, and create products
that can be marketed globally
- Surpassed our goal of reducing Scope 1 and 2 greenhouse gas
emissions from our recycling operations by 25% against our 2019
baseline
- Maintained 100% net carbon free electricity across our
operations for the third consecutive year
- 90% of our facilities were free of any lost time injuries and
there were zero instances of serious injuries or fatalities
- Increased employee participation in the Company’s 401(k)
matching benefit program to 66%
- Launched our integrated third-party recycling services
activities under our 3PR™ brand to support the rapidly growing and
important service and supply chain solution for our customers that
enables greater recycling rates, reductions in material going to
landfill, an improved carbon footprint, and enhanced sustainability
reporting.
Recognized as a Global Leader
In fiscal 2023, the Company was recognized by several global
organizations for leading performance in sustainability, ethics,
responsible operations, and employee engagement.
- Radius was ranked #1 on Corporate Knights’ 2023 Most
Sustainable Corporations in the World.
- TIME named the Company among the TIME100 Most Influential
Companies in 2023.
- Ethisphere® Institute recognized Radius as one of 2023 World’s
Most Ethical Companies® for the ninth consecutive year.
- Radius was re-certified as a Great Place to Work® for the third
consecutive year.
“Our 2023 Sustainability Report underscores the steps we are
taking to further integrate our sustainability goals into the
fabric of our present and future operations as we seek to
continually raise the bar,” commented Judodine Nichols, Chief
Sustainability Officer. “Through a united vision, we are driving a
culture of sustainability to ensure a brighter future for all.”
About Schnitzer Steel Industries, Inc. dba Radius
Recycling
Schnitzer Steel Industries, Inc. dba Radius Recycling is one of
the largest manufacturers and exporters of recycled metal products
in North America with operating facilities located in 25 states,
Puerto Rico, and Western Canada. Radius 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 50 stores that sell serviceable used auto parts from
salvaged vehicles and receive over 4 million annual retail visits.
The Company’s steel manufacturing operations produce finished steel
products, including rebar, wire rod and other specialty products.
Radius began operations in 1906 in Portland, Oregon.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213615320/en/
Investor Relations Michael Bennett (503) 323-2811
mcbennett@rdus.com
Public Affairs Eric Potashner (415) 624-9885
epotashner@rdus.com
Company Info www.radiusrecycling.com ir@rdus.com
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