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Sustainable development

Radius Recycling Achieves Significant Sustainability Milestones in Fiscal 2023

Strategic Insights

— 1 min read

Radius Recycling, a leading global metal recycling company, has released its Fiscal 2023 Sustainability Report, detailing its progress in advancing the circular economy and decarbonization efforts. The report highlights the company's achievements in reducing greenhouse gas emissions, increasing metal recovery rates, and promoting sustainability across its operations. Chairman and CEO Tamara Lundgren emphasized the company's commitment to its sustainability framework, which focuses on People, Planet, and Profit.

Key Takeaways:

  • The company 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.
  • Sales volumes of nonferrous material recovered from shredding operations increased by 7%, supported by advanced metals recovery technology systems.
  • The company surpassed its goal of reducing Scope 1 and 2 greenhouse gas emissions from recycling operations by 25% against its 2019 baseline.
  • 90% of facilities were free of lost time injuries, and zero serious injuries or fatalities occurred.
  • Employee participation in the 401(k) matching benefit program reached 66%.
  • The company launched its integrated third-party recycling services under the 3PR brand, supporting customers in increasing recycling rates, reducing landfill waste, and improving carbon footprints.
  • Radius Recycling was recognized as a Global Leader by several organizations, including being ranked #1 on Corporate Knights' Most Sustainable Corporations in the World and TIME's 100 Most Influential Companies.

Statistics:

  • 4.7 million tons of ferrous and nonferrous metals recycled in Fiscal 2023.
  • 4 million recycled auto parts sold in Fiscal 2023.
  • 521,000 tons of low-carbon emission finished steel products produced in Fiscal 2023.
  • 25% reduction in Scope 1 and 2 greenhouse gas emissions from recycling operations against 2019 baseline.
  • 3 consecutive years of 100% net carbon-free electricity across operations.
  • 90% of facilities without lost time injuries.
  • 66% employee participation in 401(k) matching benefit program.

Sources:

  • Radius Recycling's Fiscal 2023 Sustainability Report
  • BusinessWire.com
  • Corporate Knights
  • TIME Magazine
  • Ethisphere Institute
  • Great Place to Work

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