Stay focused: Sims Limited conducts an ESG materiality assessment, ensuring a strong path to sustainability

Sims Limited (Sims) has recently updated its Environmental, Social and Corporate Governance (ESG) materiality analysis, which was last carried out in 2019, to help us identify the topics that matter most to our parties. stakeholders – today and in the future.

Our materiality assessment uses data and insights from customers, investors, industry groups, circular economy leaders, employees and senior executives. We also drew on information from peer review and the media. The key information is integrated into the materiality matrix, which is presented below, and has been validated by our management team and our board of directors.

This year, we changed the layout of the matrix to a grid format and grouped related topics (shown in the table at the end of this article) to make our matrix easier to interpret. The top right box displays topics, listed in alphabetical order, that are common priorities for Sims and our stakeholders. Each of the topics has been linked to one of the pillars of our sustainability strategy: operate responsibly, close the loopand change partner. Each pillar is aligned with one of the three United Nations Sustainable Development Goals (SDGs).

Emerging topics

Since the 2019 materiality analysis, new topics have emerged as material, including action on greenhouse gas (GHG) emissions, innovation and technology for the circular economy, and relations with communities. These are important topics that relate directly to how we create value for shareholders and society, as well as how we will achieve our goal of creating a world without waste to preserve our planet.

As one of our core values, health and safety remains a priority at Sims. That’s why we’ve added “Environmental Compliance” as a new category. This is a consolidation of a number of topics that were identified in FY19, such as waste, air emissions and regulatory compliance.

Next Steps for Sims: Identify Challenges/Opportunities and Take Action

These topics are all closely related; for example, managing our environmental impacts and being a safe employer are essential to how we create value in our local communities. Sims Limited recognizes the integrated nature of sustainability topics in our sustainability strategy and planning processes. Topics can present both challenges and opportunities for Sims – for example, taking action on GHG emissions. The global transition to a low-carbon economy presents significant opportunities for Sims Limited and our circular business model, but it also requires that we take ambitious action to reduce our own emissions.

The approach that has been taken to identify our key sustainability topics is aligned with the Global Reporting Initiative (GRI) standards (2021) and the AA1000 Principles of Responsibility standard (2018).

See the Sims Limited FY21 Sustainability Report for more information on our sustainability goals and performance.

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