NEW YORK, Dec. 15, 2022 /PRNewswire/ -- Sims Limited (ASX: SGM), a global leader in sustainability and an enabler of the circular economy, announced that its leadership in addressing climate change has been recognised by CDP for the first time with a score of A-. CDP assessed the environmental disclosures of nearly 15,000 companies in 2022.
"We are delighted to be recognised by CDP as an environmental leader, and we will remain focused on accelerating our sustainability ambition to create a world without waste to preserve our planet," said Alistair Field, managing director and group chief executive officer of Sims Limited. "Our portfolio of businesses are an integral part of the circular economy, which is critical to limiting emissions and preserving natural resources. We also integrate climate action into our business key performance indicators to ensure that we are delivering on our growth strategy and purpose, as well as enabling decarbonisation in critical sectors."
This year, Sims Limited put its climate change action plan up for an advisory vote among its shareholders, and it was endorsed by 89.6 percent of issued capital. The company has reduced carbon emissions by 21 percent from FY20 levels and sourced 37 percent of its electricity from renewable sources. In November 2022, Sims Limited committed to the Action Declaration on Climate Policy Engagement, a joint initiative of Corporate Knights and the Global 100 Council.
The company's actions toward mitigating climate impact were recognized in 2022 by other leading global benchmarks for sustainability, such as the Corporate Knights rankings – the Global 100 and the Carbon Clean200. This year Sims Limited was also included on the first ever Financial Times/Nikkei Asia Climate Leaders Asia-Pacific list.
CDP's annual environmental disclosure process is widely recognised as the gold standard of corporate environmental transparency by the global investment community. In 2022, more than 680 investors with US$130 trillion or more in assets requested that companies disclose data on their environmental impacts, risks and opportunities, as well as their ambitious goals for climate action through CDP's platform. The complete list of publicly available scores is accessible on the CDP website.
Sims Limited's business model is based in sustainability. Their portfolio of circular businesses is vital to enabling a sustainable, low-carbon future. To learn more about how Sims Limited delivers social, environmental and economic value, review the company's FY22 Sustainability Reporting Suite.
About Sims Limited
Founded in 1917, Sims Limited is a global leader in sustainability and an enabler of the circular economy that employs 4,400 employees who operate from more than 200 facilities across 15 countries. 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). The company's purpose, create a world without waste to preserve our planet, is what drives them to constantly innovate and offer new solutions in the circular economy for consumers, businesses, governments and communities around the world. For more information, visit www.simsltd.com.
CDP is a global non-profit that runs the world's environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022, including more than 18,700 companies worth half of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. For more information visit cdp.net.
Note to editors: the full methodology for scoring is available on the CDP website.
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Source: Sims Limited Related Stocks: Australia:SGM OTC:SMSMY OtherOTC:SMSMY