The Sims Purpose: Create a world without waste to preserve our planet.
Sims Limited puts sustainability, an important business approach for creating long-term value, at the heart of its business. By considering how we operate in the ecological, social and economic environment, we can address gaps and grow our competitive advantage. This expanded view of the business and ecosystem gives companies a clearer sense of purpose and helps bolster our competitive agility while also bringing value to society and the environment. Our purpose and sustainability strategy are guiding us in identifying new business models and creating shared value.
At Sims, we are in an advantageous position because our business model keeps resources in use for as long as possible, as well as continues to make resources available for future use – the very basis and definition of the circular economy. Our purpose, create a world without waste to preserve our planet, demonstrates to us, and the world, that sustainability is at the core of our business and is key to creating long-term stakeholder value. Defining our purpose has helped to drive strategic decisions, pursue new opportunities for growth and inform our strategic goals. In turn, our sustainability goals act as a crucial guide. Here are three goals in support of our commitment to sustainability.
1. We help recover, recycle, and keep materials in use for as long as possible.
Close the loop with Sims Resource Renewal
We help customers recover, recycle, and keep materials in use for as long as possible. With Sims Resource Renewal, we are going to be able to close the loop on our own waste.
We are aiming to transform more than one million tons of automotive shredder residue (ASR), the material that is left over after metal recycling, each year into new useful products by 2030. Currently, ASR is sent to landfill, but it has value. ASR can be transformed into raw materials, plastics, electricity, or even hydrogen. We plan to build 11 Sims Resource Renewal facilities that will use plasma gasification technology by 2030.
For more information on Sims Resource Renewal, please visit www.simsrr.com.
2. We create new business models that further the circular economy.
Partner for change with Sims Lifecycle Services.
By working closely with clients, Sims Lifecycle Services (SLS) is expanding into new, higher value services and divesting lower value assets for the circular economy. SLS is helping major brand owners and digital data storage providers to recycle the cloud by securely managing hardware in their data centers. Once the data center material is decommissioned, SLS works with clients to provide guidance on how best to process equipment. In many cases, servers can be dismantled to recover components that can be used again. These refurbished parts might be placed into inventory and find new life in remanufactured servers.
Through refurbishments and redistributions, SLS is reducing e-waste and helping clients advance their zero-waste targets and greenhouse gas emissions reductions while saving costs.
For more information on Sims Lifecycle Services, please visit www.simslifecycle.com.
3. Closing the gender gap: A diverse team improves the quality of decision making.
Operate responsibly with Sims Limited.
Diversity in the workplace can increase customer insight and innovation in an increasingly global world. Plus, an encouraging and inclusive workplace enables companies, like Sims Limited, to hire and retain the best team. Companies in the top quartile for gender diversity are 21 percent more likely to enjoy better than average profitability, and those in the top quartile for ethnic diversity are 33 percent more likely to enjoy it, according to Mackenzie and company.
Currently the company is focused on gender diversity with a goal to have women representing 25 percent of the workforce across the globe. Thus far, our actions have resulted in an increase in the company’s female representation from 19.5 percent to 21 percent when compared to the year prior. The hard work must continue, and Sims is committed to ensuring hiring is fair, employees feel welcomed, and remuneration is equal.
By taking an ecosystems approach and defining our purpose around the circular economy, our portfolio of businesses are unlocking new value. There are many things we can achieve as an organization to live our purpose, but companies cannot address the global challenges we face on their own.