Creating Value Through Environmental, Safety and Corporate Responsibility
PORTLAND, Ore.--(BUSINESS WIRE)--Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today released its 2014 Sustainability Report for our fiscal year ended August 31, 2014. The report provides key performance metrics that assess the environmental impact of our operations and our safety performance. As one of North America s largest metals recyclers, Schnitzer has been operating for more than 108 years. The metrics and qualitative reporting summarize a detailed analysis of Schnitzer s environmental footprint, safety performance, corporate governance and compliance, and community involvement.
Sustainability is a core tenet of our business. We work every day to reduce our impact on the environment while adding value through our recycling businesses to the communities we serve and in which we operate
Sustainability is a core tenet of our business. We work every day to reduce our impact on the environment while adding value through our recycling businesses to the communities we serve and in which we operate, said Tamara Lundgren, President and Chief Executive Officer. This comprehensive report on our environmental, social and governance (ESG) program provides our stakeholders with insights into our sustainability activities.
The report presents standardized measurements and qualitative assessments which are useful in managing our operational efficiency as well as the sustainability of our business. Schnitzer s Environmental Sustainability Metrics include Scope 1 and 2 Greenhouse Gas Emissions (GHGs), Water Usage, and Waste Disposal. Schnitzer s Safety Metrics align with industry-accepted calculations, including Total Case Incident Rate (TCIR); Lost Time Incident Rate (LTIR); and Days Away, Restricted or Transferred Rate (DART). Schnitzer s report reflects operational performance during its fiscal year ended August 31, 2014, except where noted. The environmental sustainability metrics presented in this year s report were independently verified and meet AccountAbility s 2008 AA1000 Assurance Standard.
Key aspects of our 2014 Sustainability Report include:
Environment: Schnitzer s sustainability impact begins with maximizing scrap metal recovery from every pound of obsolete or salvaged material we collect. In addition to natural resource conservation, our processes maximize energy efficiency and waste repurposing. We employ operational best practices and we invest in advanced technologies to optimize our performance. Through our innovative processes, our recycling solutions aim to support the global conservation of natural resources while minimizing energy use, water consumption, and waste reduction.
Safety: Schnitzer s employee health and safety initiatives are driven by an everyday goal of zero injuries. We foster a culture of Safety First throughout all of our operations and communicate this message continuously. We undertake active safety training and measure our performance against industry benchmarks using established metrics.
Corporate Governance: A strong foundation in corporate compliance and risk mitigation underpins all that we do. Our robust compliance programs incorporate regular training and education in order to foster a corporate culture of ethical business practices and adherence to all laws and regulations governing SSI s operations. In recognition of our strong program, Schnitzer was recently awarded Ethics Inside Certification and Anti-Corruption Program Verification from the Ethisphere Institute.
Community: Our decisions and actions focus on achieving optimal performance for our business, as well as the needs of our employees and the world in which we all live. We are pleased to participate in a number of charitable organizations that benefit the communities we serve and in which we operate.
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with operating facilities located in 14 states, Puerto Rico and Western Canada. The business 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 its auto parts and steel manufacturing businesses. The Company's auto parts business sells used auto parts through its self-service facilities located in 16 states and Western Canada. With an effective annual production capacity of approximately 800,000 tons, the Company's steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. The Company commenced its 109th year of operations in 2014.
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