Waste management company Reconomy has published its Sustainability Review, which reports on its progress against social, environmental and business targets in the year 2019/20.
Reconomy released the Sustainability Review on 15 February
Despite the challenges of the pandemic, the Telford-based business, which includes compliance group Valpak in its group, said it continued to “focus on delivering outcomes for communities” and in doing so generated what it described as “£204 million of social and economic value throughout the year”.
The largest portion of this figure is attributed to £188 million social and economic spend through its use of SMEs . And, the company highlighted its Reconomy Social Value Programme (RSVP), which works to create employment routes for “hard-to-reach” groups, such as young people leaving care.
Throughout the year, the company also diverted 96% of waste from landfill and achieved a 51.1% reduction in carbon intensity against turnover in 2020.
Overall, it achieved 1% profit before tax, which it hopes to maintain in 2021, and reported that that 83% of suppliers are SMEs.
‘Hugely proud’
Commenting on the launch of the Sustainability Review, Reconomy’s CEO, Paul Cox, said: “Although the Coronavirus pandemic has meant we’ve had to postpone or adapt much of our planned activity, I am hugely proud of what we have been able to achieve.
“Our commitment to innovation and technology has allowed us to develop new ways of delivering outcomes and move some of our sustainability projects online. As we move into 2021, I’m cautiously optimistic that we will be able to deliver even greater value and realise further positive change and outcomes within the community.”
Goals for 2021
Reconomy said it continues to “react swiftly and decisively” to the pandemic and will move through 2021 with “cautious optimism”.
The company’s goals for 2021 “remain ambitious” and include generating £2m of social value through RSVP.
Reconomy will also “work with customers and suppliers” to reduce waste and achieve a 96% recycling rate, while reducing carbon intensity levels by 12%.
This year will also see Reconomy launch a new environmental programme to sit alongside its RSVP social value programme.
The post Reconomy achieves value with sustainability targets appeared first on letsrecycle.com.
Source: letsrecycle.com Waste Managment
