Create a world without waste to preserve our planet - Sustainability Report 2020 - Amazon ...

Create a world without waste to preserve our planet - Sustainability Report 2020 - Amazon ...
Create a world
       without waste
          to preserve
           our planet

Sustainability Report 2020
Create a world without waste to preserve our planet - Sustainability Report 2020 - Amazon ...
SIMS LIMITED          |     2
              About Us                              The Sims Purpose                  Managing Sustainability          Our Performance                 About This Report

ABOUT US                                               THE SIMS PURPOSE                                      MANAGING                                        OUR PERFORMANCE                                    ABOUT THIS REPORT
2020 Sustainability                                    From Linear to Circular:                                                                              Environmental.........................37           Scope and Boundary.............72
Highlights...................................4         We Need to Solve a                                    Governance.............................25
                                                                                                                                                             People........................................47   GRI Table...................................73
                                                       Waste Mindset Problem....... 14
About Sims Limited.................5                                                                         Materiality............................... 29
                                                                                                                                                             Responsible Business.......... 68
                                                       The Sims Limited
103 Years of Global                                                                                          Task Force on Climate-
                                                       Sustainability Strategy......... 16                                                                   Economic Performance....... 70
Recycling Experience..............6                                                                          Related Financial
                                                       How Sims Limited Creates                              Disclosures.............................. 32
At a Glance – Our Business
                                                       Value........................................... 21
Divisions...................................... 7

Sims Limited’s Integrated
Growth Strategy.......................8

Chairman’s Message...............9

CEO’s Message......................... 11

                                                                TABLE OF CONTENTS
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About Us   The Sims Purpose   Managing Sustainability   Our Performance   About This Report

                                                                   ABOUT US

                                                         Key Enabler
                                                        of the Circular
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              About Us                      The Sims Purpose              Managing Sustainability        Our Performance   About This Report


2020 Sustainability Highlights
     The Sims Purpose                                               Managing Sustainability                                Our Performance

                     24.6k                                                                                                  $135m
                                                                                     Sustainability strategy                                                                     Board of

                     tonnes of cloud
                                                                                     and goals developed
                                                                                                                            invested to close the loop on
                                                                                                                            our metal recycling process
                                                                                                                                                                     37   %      Directors
                                                                                                                                                                                 are women
                     material recovered
                                                                                                                            over the past three years

                    >600k                                                                                                                                                       3
                                                                                                                            LMS Energy added a

                     tonnes of municipal
                     curbside recycling
                                                                   Member of DJSI Australia Index
                                                                   since 2009
                                                                                                                            rooftop solar system at our
                                                                                                                                                                                out of 12 ELT2
                     processed                                                                                                                                                  members are
                                                                                                                            Gillman site, which meets ~15%
                                                                                                                            of its electricity needs

                     tonnes of secondary                           Member

                     metals recycled
                                                                   of the World Business Council for
                                                                   Sustainable Development and                               Won additional municipal
                                                                   active contributor of the circular                        recycling contract in

                     450k                                          economy program                                           Florida with contract terms          increase in reuse and
                                                                                                                             mitigating commodity risk            recycling of cloud material

                     MWh of base-load renewable
                     energy generated via LMS                                        China announced new
                     Energy (powers 80,000                                           regulations classifying high-                             Commenced community consultation for the
                     homes per annum)                                                quality non-ferrous scrap as                              first resource renewal facility planned in
                                                                                     a “renewable metal”                                       Campbellfield, Victoria

    All currency figures referred to in this report are in Australian dollars unless otherwise stated.
    Executive Leadership Team
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    About Us   The Sims Purpose   Managing Sustainability   Our Performance   About This Report


About Sims Limited                                            Sims Limited is a global leader in metal and electronics
                                                              recycling, and an emerging leader in the municipal
                                                              recycling and renewable energy industries. With more
                                                              than 200 facilities and operations in 15 countries, Sims
                                                              Limited plays an integral role in the circular economy by
                                                              making resources available for future use.

                                                              Our purpose, create a world without waste to preserve
                                                              our planet, is what drives us to constantly innovate
                                                              and offer new solutions in the circular economy for
                                                              consumers, businesses, governments and communities
                                                              around the world.
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SIMS LIMITED         |        6
        About Us          The Sims Purpose     Managing Sustainability   Our Performance         About This Report


103 Years of Global Recycling Experience

                                                                                    Our Locations
                                                                                                                                                   Sales to
15 COUNTRIES                                  HQ                                                                                                  Per Region

                                                                                                                                              Other                        41.7
                                                                                                                                              Turkey                       17.1
                                                                                                                                              United States                19.5
                                                                                                                                              China                         9.8
                                                                                                                                              Australia                     8.7
                                                                                                                                              South Korea                   3.2


                                    METAL RECYCLING
                                                               METAL RECYCLING
                                                                                                                     METAL RECYCLING
                                    FACILITIES ACROSS          FACILITIES                  LIFECYCLE                 FACILITIES ACROSS

                                                                                                                                         No single customer contributed 10 percent
                                                               ACROSS THE UK               SERVICES                  AUSTRALIA, NEW      or more to the Group revenue for all the
                                    NORTH AMERICA                                                                                        periods presented.
                                                                                           FACILITIES ACROSS         ZEALAND & PAPUA
SALES REVENUE IN 2020                                                                      15 COUNTRIES              NEW GUINEA
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SIMS LIMITED     |       7
         About Us                   The Sims Purpose         Managing Sustainability   Our Performance             About This Report


At a Glance
Our Business Divisions

METAL RECYCLING                         ELECTRONIC                               MUNICIPAL RECYCLING                      RESOURCE RENEWAL                   RENEWABLE ENERGY
                                        LIFECYCLE SERVICES
 We buy, process and sell                                                         We lead urban recycling in               As part of our long-term growth   Our joint venture, LMS Energy,
 ferrous and non-ferrous                 We’re a market leader in                 New York City and manage                 strategy, we will expand our      is a leader in landfill gas-to-
 recycled metals through                 e-recycling, and we enable a             a portion of the curbside                business offering to transform    renewable energy and an
 our locations, primarily in             range of industries to securely          recycling programme for                  the material leftover following   innovator in solar-on-landfill
 Australia, the United Kingdom           and responsibly reuse, recycle           Chicago – two of the largest             metals recycling – auto           technology. LMS has a total of
                                                                                                                           shredder residue (ASR), which     27 landfill biogas-to-energy
 and the United States. We               and manage the disposal of               urban areas in the U.S. We
                                                                                                                                                             projects and 18 flaring projects
 recover, process and sell steel,        IT equipment and electronic              process and market more than             currently is landfilled – into
                                                                                                                                                             in operation across Australia
 iron, copper and aluminium to           products in a legally compliant,         600,000 tonnes of municipal              useful products for society.
                                                                                                                                                             and New Zealand. These
 manufacturers in 30 countries.          data secure, fully traceable and         curbside material annually               We will use proven, advanced      projects generate in excess of
 Globally, we recover and                environmentally sustainable              for New York City, Palm                  plasma gasification technology,   450,000 megawatt hours of
 recycle more than 8 million             way. Data centre volumes                 Beach County, and portions               which will continually improve    baseload renewable electricity
 tonnes of scrap metal each              increased 14 percent in FY20             of New Jersey, Long Island               through our research and          annually, which powers 80,000
 year, and we continue to                to 24,600 tonnes compared to             and Chicago. We’re evolving              development. Our designs          homes per annum. Additionally,
 fortify and grow this area of           21,600 tonnes in FY19. We’re             our municipal recycling                  follow European emissions         LMS has five solar projects
 our business through market             constantly exploring new                 capabilities to meet the needs           standards, which are the          across Australia.
 optionality and operational             innovative solutions to serve            of an ever-changing recycling            current global emissions          With 44 carbon abatement
 excellence.                             this vast emerging market by             landscape. Our mission is to             benchmark. This line of           projects accredited under the
                                                                                  develop transformative waste             business will allow us to close   Emission Reduction Fund,
                                         growing product stewardship
                                                                                                                           the loop on our own waste,        LMS has also been issued with
                                         and services for recycling the           management solutions for the
                                                                                                                           reduce our local environmental    more than 50 percent of all
                                         cloud, and closing resource              megacities of the future.
                                                                                                                           footprint, save on landfill and   Australian Carbon Credit Units
                                         loops for our customers.                                                                                            (ACCUs) under the landfill gas
                                                                                                                           energy costs, and develop a
                                                                                                                           new revenue stream.               methodologies.

 8.2m                                    24.6k                                    600k
                                                                                                                                                             AN ESTIMATED


 TONNES OF SCRAP METAL                   TONNES OF CLOUD                          TONNES OF MUNICIPAL
                                                                                                                           1m TONNES
                                                                                                                           OF ASR INTO QUALITY               TONNES OF CARBON
 RECYCLED IN FY20                        MATERIAL RECOVERED                       MATERIAL RECYCLED
                                                                                                                           PRODUCTS EACH YEAR BY             EMISSION REDUCTIONS IN
                                                                                  BY SIMS MUNICIPAL
                                         IN FY20                                                                           2030                              THE LAST 24 YEARS
                                                                                  RECYCLING IN FY20
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Sims Limited’s Integrated Growth Strategy
Aligned with our purpose, we will grow current businesses (metals, electronics
and municipal recycling) and expand into new environmental adjacencies.                                                                 Strategic Growth: Targeting both a minimum 15%
                                                                                                                                        return on growth projects requiring capital and material
Considering the major changes COVID-19 has had on the way we work, we reassessed our strategy                                           Environmental, Social and Governance (ESG) benefits
and the global megatrends used to develop it. Both our strategy and global megatrends remain valid.

                                                                                                                   FY20                                FY25                   FY25
     Megatrends                                     Growth Strategy

                                                                                                                      Ferrous Volumes (‘000 tonnes)                   Key ESG Measure
     Global push for high-                                         Expand metal volumes
     quality metals                                                in favourable geographies                                                                          1.8 million tonnes1
                                                                                                                    6,301                              9,600       of additional metals recycled

                                                                                                               Non-Ferrous Retail Volumes (‘000 tonnes)
     Growing demand for                                            Grow U.S.                                                                                             145k tonnes1
     copper and aluminum scrap                                     non-ferrous business                              141                                300        of additional metals recycled

                                                                                                                            Resource Renewal Status
     Increased environmental                                       Enter resource renewal
                                                                                                                                                                        Converts 95%
     concerns                                                                                                   Pre-feasibility               Capacity 120k ASR    of ASR into useful products
                                                                                                                 completed                       tonne/year

                                                                                                                            Tonnes of cloud material
     An increasingly                                               Recycle cloud                                                                                          3.9 million2
     connected world                                               infrastructure                                 24,600                             200,000       units reused or redeployed

                                                                                                                      Renewable energy (Megawatts)
     Increasing concerns                                           Expand proven landfill                                                                                ~450k MWh 3
                                                                                                                                                                       of renewable energy
     around global warming                                         energy business overseas                          67 3                           Under review             generated

    Based on an FY18 base year to FY25      2
                                                Estimated based on outcomes from 2019     3
                                                                                              Represents renewable energy generated by LMS Energy
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          About Us                The Sims Purpose       Managing Sustainability   Our Performance       About This Report


Chairman’s Message
THE SIMS PURPOSE                                       in its core metal and e-recycling businesses, and
                                                       to reduce waste and produce clean energy to                      THE SIMS PURPOSE:
In April 2019, we introduced the Sims purpose;
                                                       further long-term profitability and the reach of its
                                                                                                                        CREATE A WORLD
create a world without waste to preserve
our planet. This purpose demonstrates that             sustainability efforts.
sustainability is at the core of our business and is
key to creating long-term shareholder value.
                                                       During FY20, Sims began executing this strategy.
                                                       As part of Sims’s five-year strategic plan, we                   WITHOUT WASTE TO
                                                                                                                        PRESERVE OUR PLANET
The world has changed significantly since we           announced our goal to reuse, redeploy, and
announced our purpose 18 months ago, with              recycle 200,000 tonnes of cloud material by the
health, economic and societal challenges not           end of FY25. The “recycling the cloud” initiative
faced for many years. The pandemic shows how           demonstrates Sims’ ability to play a critical role in
deeply connected we are to one another, and the        helping businesses manage end-of-life technology
importance of working together to protect our          and keep resources in use at their highest value
health, way of life and planet. I am proud that Sims   for as long as possible. Despite the impact of the
Limited is working with its employees, customers,      COVID-19 pandemic, Sims Lifecycle Services was
partners, governments and communities to find          able to grow its customer base during FY20 and
ways to innovate and protect our environment.          remains on track to achieve its FY25 goal.

Sims plays an integral role in the circular economy    Our resource renewal programme is another
by making resources available for future use. Each     component of our strategic plan, and an excellent
year, Sims recycles millions of tonnes of secondary    example of our strategy to create a closed loop
materials, diverting the material from landfills       business model while generating attractive
and reducing the need to extract new material.         financial returns. In August, Sims announced
With 103 years of recycling experience, Sims will      its programme to transform the material left
continue to innovate to find the safest and most       over following metal recycling into new, quality
effective technologies to recover and recycle          products, such as construction materials,
materials, enabling Sims to achieve its purpose.       electricity and feedstock for recycled plastics.
                                                       The company aims to design and build 11 resource
EXECUTING OUR STRATEGIC PLAN                           renewal facilities globally by 2030. The first
                                                       facility is proposed for Campbellfield in Victoria
Guided by the Sims purpose and our integral role
                                                       and a research and development-focused pilot
in the circular economy, in FY19 we announced an
                                                       facility is proposed for Rocklea, Queensland.
ambitious five-year strategic plan. This plan set
Sims on a path to pursue opportunities for growth

                                             Geoff Brunsdon – Chairman
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SIMS LIMITED    |      10
          About Us                The Sims Purpose          Managing Sustainability   Our Performance        About This Report



Key to Sims’ strategic plan is its ability to innovate,         Last year, we began reporting the Group’s sustainability         GROWING OUR DIVERSE TEAM
whether it is installing new technology to increase metal       record using the Global Reporting Initiative as a                The Board recognises the value of diversity – both in
yields or developing recycling solutions to meet the            guideline, which we continue in this year’s report. We           terms of background and experience – for achieving
need in evolving industries, such as recycling the cloud.       will also continue to adopt the Task Force on Climate-           Sims’ purpose. A diverse workforce is essential for
Our strategy provides the opportunity to further both           related Financial Disclosures (TCFD) recommendations             developing the innovative and creative solutions
long-term sustainability and profitability, to the benefit      to more closely track and disclose our climate-related           necessary to drive a profitable and sustainable future.
of our shareholders, employees, the communities in              risks and opportunities.
which we operate, our suppliers and our customers.                                                                               Sims’ workforce is geographically diverse with
                                                                SAFETY                                                           operations in 15 countries. We still need to improve
SETTING OUR SUSTAINABILITY STRATEGY                             The COVID-19 crisis has presented health and safety              our gender balance, and the Board and management
During FY20, Sims took another important step toward            challenges not previously faced during the working               remain focused on achieving this objective across
achieving its purpose. After a rigorous materiality             lives of our leaders. Sims’ first priority has been and will     the entire workforce while creating a workplace that
assessment, we developed Sims’ sustainability strategy          continue to be the safety of our employees, customers,           fosters diversity in the broadest sense. The company
with three pillars, Operate Responsibly, Close the              suppliers and those in the communities where we                  continued to make strides to improve gender diversity
Loop and Partner for Change, and ambitions to                   operate. We will continue to maintain safe social                in its workforce during FY20. This year, the company
support the pillars. Our sustainability strategy is an          distancing at our facilities and offices, execute enhanced       improved the diversity of its applicant pool, with women
integral part of our five-year strategic plan and will          cleaning protocols, and enable our employees to work             comprising 25 percent of all job applicants, and the
guide us in the execution of the plan.                          from home where possible. Moreover, we will remain               company’s overall female new hires well outpaced the
                                                                diligent in improving our protocols as risks are identified      current female population. These actions resulted in
Each of the three pillars is aligned to one of the United       in the communities in which we operate around the world.         the company’s female representation increasing to 21
Nations Sustainable Development Goals (UN SDGs).                                                                                 percent at the end of FY20 from 19.5 percent in the
We selected the three UN SDGs we can most impact,               In addition to the measures we have taken in response            prior year.
Decent Work and Economic Growth, Climate Action, and            to the pandemic, we have remained laser-focused
Responsible Consumption and Production. We strongly             on safety. During the 2020 fiscal year, the company              Our purpose clearly articulates our identity and will
support the UN SDGs and will work to advance them.              prioritised improvements to its safety management                enable us to attract the best and brightest talent
                                                                system. We standardised operation practices and                  with the skills necessary to develop and implement
                                                                performance measures, and streamlined and simplified             sustainable solutions. Together with our employees,
Sims Limited Sustainability Strategy Pillars                    safety programs, standards and training. I am pleased to         customers, partners, government and communities, we
                                                                report a significant decline in both the total recordable        will collaborate to solve shared global challenges and
                                                                injury frequency rate (TRIFR) and the lost time injury           achieve the future vision we seek.
                                                                frequency rate (LTIFR) as compared to the prior year.
                                                                Safety is paramount in all that we do, and it is key to          On behalf of my fellow directors, I thank all of our
                                                                operating responsibly. We will continue to use this              employees for their dedication and efforts in creating a
   OPERATE              CLOSE              PARTNER                                                                               safer and more sustainable future over the past year.
                                                                systematic approach to driving improvement in safety
                                                                until we reach our goal of zero harm.

                                  Geoff Brunsdon – Chairman’s Message
SIMS LIMITED    |      11
          About Us                The Sims Purpose        Managing Sustainability   Our Performance      About This Report


CEO’s Message
The recycling and sustainability business is not for          business, enter resource renewal, enhance data centre          PEOPLE
the faint of heart, and while we have had a number of         decommissioning infrastructure, and expand a proven            It is our corporate responsibility to speak out and act
pleasant and profitable years, fiscal year 2020 was not       landfill energy business overseas – in the near term.          against anything that infringes on the human and civil
one of them. FY20 was challenging and was extremely                                                                          rights of another – least of which are racism, modern
impactful to our global business. We started FY20 with        The Sims Limited sustainability strategy is built on three
                                                              pillars:                                                       slavery, human trafficking and wage theft – within
declining scrap prices and intense volatility, and we                                                                        our company and throughout our value chains. In my
ended the year in the midst of a global pandemic. This                                                                       view, silence is complicity, and I believe that everyone
                                                              OPERATE RESPONSIBLY
pandemic not only affected our business, but it also                                                                         deserves respect.
affected the communities where we operate and do              We commit to operating as a best-in-class business that
business.                                                     continuously improves its safety, business performance         The Board of Directors, the executive leadership team
                                                              and employee engagement, and upholds ethical                   and I understand and appreciate how essential a diverse
COMMUNITY                                                     business practices.                                            workforce – in background, thought and experience –
Community and sustainability are extremely important                                                                         is to our business and achieving our purpose. We are
                                                              CLOSE THE LOOP
to our business. While sustainability is the path for us
to achieve our purpose, create a world without waste          Rethink the concept of waste, close our own material
to preserve our planet, community is the way in which         loop, and support others in doing the same.
we ensure that we live our purpose daily. When we
developed and introduced our purpose in FY19, we also         PARTNER FOR CHANGE
established a strategic, multi-year plan that would allow     Create shared value while developing new business
us to drive scalable, sustainable growth throughout           models that support safe, healthy and productive value
all of our business divisions, and also deliver on our        chains.
environmental objective: reduce our waste and keep
resources in use for as long as possible. For this reason,    These three pillars correlate to, and are in support of,
our sustainability and our corporate growth strategies        three of the 17 United Nations Sustainable Development
are fully integrated.                                         Goals (Decent Work and Economic Growth,
                                                              Climate Action, and Responsible Consumption
Our purpose is the underlying and unifying thread for         and Production), because we understand that our
each of our initiatives, projects and programmes. We’ve       business divisions do not operate in a vacuum. Each
established business relationships and partnerships           of our employees is keenly aware of the role we play
with like-minded organisations to ensure that we are in       in the global circular economy, and how our work and
the best position to achieve our purpose in the long-         operations impact the communities where we operate
term, as well as our strategic targets – expand metal         and do business.
volumes in favourable geographies, grow non-ferrous

                                Alistair Field – CEO & Managing Director
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          About Us                The Sims Purpose        Managing Sustainability   Our Performance            About This Report



also committed to having a workforce who supports             infrastructure – all with varying lifespans. Generally               racism and social justice protest in virtually every corner
our shared purpose and respects human rights. Sims            speaking:                                                            of the world, and the financial implications that resulted
Limited employees and I recognise the responsibility we       • A yogurt cup from purchase to use has a lifespan of a              – our team remains strong and resolute.
have to protect and uphold the human and civil rights           few days.
of our colleagues, our suppliers and our customers. We                                                                             SAFETY
know this responsibility extends to the communities           • A cellphone before upgrading is used for two to three
                                                                                                                                   We drove continuous improvement in a number of
where we operate, as well as the communities where              years.
                                                                                                                                   areas in FY20, including safety. One of those areas of
we provide our products and services. This has been an        • A laptop’s lifespan is approximately three to five years.          improvement included our new critical risk management
unwavering point throughout my life and career, and it        • A refrigerator is used for five to 10 years.                       programme. This programme allowed us to shift our
is a sentiment that I bring to work and echo each and                                                                              focus so that we could identify and address the risks
                                                              • A car will last the average person from 10 to 15 years.
every day.                                                                                                                         within our business that could lead to a serious injury.
                                                              • A bridge or a building can have a lifespan of 30 to 100            Although all Sims Limited employees are aware of
PLANET                                                          years.                                                             this new safety focus, our leaders have an added
With each passing day, we are reminded that the world                                                                              responsibility to conduct frequent safety audits – we
faces a growing, global challenge of waste management                                                                              refer to them as critical control verifications internally
and resource scarcity. Ultimately, we hope society’s          Each of these items can be recovered as valuable raw                 – to challenge the effectiveness of our current safety
perception of how materials are used shifts. Instead of       materials for future products instead of being sent to               measures and controls.
a “take-make-waste” mindset, the concept of a circular        landfill as waste. Our business divisions receive these
economy needs to be common knowledge and practice,            products, sort them, refurbish them (when possible),                 These audits have been highly successful and have
so that society can start to think of “waste” as a valuable   harvest their parts, and then the recycled materials                 resulted in hundreds of improvement opportunities
resource. We know that this mindset shift will not            are sold to become new items. While the end of life for              that drive efficiency from a safety standpoint. We’ve
happen overnight. It will take a great deal of education,     these products may not always be top of mind for an                  highlighted these efficiencies in regular messages,
industry collaboration and political willingness for          individual, it is always top of mind for us. We know the             in meetings and on our company intranet, so that
individuals and organisations to actively work to ensure      circular economy goes beyond recycling; it is focused                employees are consistently aware of and engaged in the
that these materials end up in the right places for their     on rescuing the past to ensure a more sustainable                    measures we are taking to keep us all safe while we do
value to be kept in the loop for as long as possible,         future. That’s why we have expanded into higher value                this important work.
thereby closing our collective resource loop.                 sustainability services, and we continue to invest in
                                                              innovative technologies that allow us to extract more                As we build upon our legacy of offering innovative
Consider this: everything we use has a lifespan, and          value from inputs and enter new business adjacencies                 solutions in the circular economy, we will continue to
if we use resources in the right way, we can definitely       that will allow us to redefine waste.                                promote and increase diversity, embrace differences,
close the resource loop in our lifetime. Through our                                                                               and foster an inclusive work environment where
business divisions and their respective service offerings,    We have made a great deal of progress on the road to                 employees feel respected and valued. The future of Sims
Sims Limited touches a number of products that are            achieving our purpose and accomplishing our strategic                Limited is bright, and with the best team in the business,
part of an individual’s daily life – from food containers     targets in FY20. Despite a number of challenges this                 I know that there is no limit to what we can achieve
and electronics to appliances and major pieces of             past fiscal year – the global coronavirus pandemic,                  together.

                                          Alistair Field – CEO’s Message
About Us   The Sims Purpose   Managing Sustainability   Our Performance   About This Report

                                                        THE SIMS PURPOSE

                                                Create a world
                                               without waste to
                                              preserve our planet
SIMS LIMITED    |       14
          About Us                The Sims Purpose           Managing Sustainability   Our Performance       About This Report


From Linear to Circular: We Need to Solve a Waste Mindset Problem
One of the world’s most daunting issues is the mounting            in value every year due to clothing that’s barely worn          otherwise lost, which can contribute directly to climate
waste problem.                                                     and rarely recycled.                                            change.

• Each year, the world’s cities generate approximately           • It harms our environment. Approximately 100 billion           As a society, we need to shift our way of thinking and
  2.01 billion tonnes of trash, far more than can be               tonnes of resources flow into the economy each year,          build a circular economy. Much more than managing
  recycled or properly processed.1                                 of which 32 billion tonnes of materials are collected as      waste, a circular economy actively aims to keep
                                                                   waste. Of this, only 8.65 billion tonnes, or 8.6 percent      resources in use for as long as possible, then recover
• Approximately 5.2 million tonnes of major                        of total material use of society, is cycled, according to     and regenerate products and materials at the end of
  applicances, including refrigerators, washing                    the Platform for Accelerating the Circular Economy.4          each service life. In other words, the goal is to reduce,
  machines and water heaters, were landfilled in the               The majority of waste is landfilled, incinerated or           reuse, repair, repurpose and recycle.
  United States in 2017, according to the EPA.2
• One year of electronic and electrical waste weighs as
  much as 50 million tonnes.3
This is not just a trash problem. The world has a
consumption problem. Our global economy is designed
for linearity – take, make, waste. We’re of the mindset
that when we buy something new, we get rid of what is
old. As the Earth’s population continues to grow and we
consume more products, this traditional linear materials
economy is unsustainable.

• It strains our resources. The UN International
  Resources Panel projects the use of natural
  resources to double by 2050.
• It overburdens our infrastructure. In developing
  parts of the world, rapid industrialisation is
  happening in countries that have not yet developed
  the appropriate systems to deal with waste.
  Without the infrastructure to collect garbage, it is
  dumped in rivers, canals and streets, and it creates
  environmental and health hazards.
• It results in lost opportunity. According to the Ellen
  MacArthur Foundation, every second, the equivalent
  of one garbage truck of textiles is landfilled or burned
  globally. This leads to an estimated $500 billion loss
          About Us                   The Sims Purpose           Managing Sustainability   Our Performance           About This Report



Creating Value for Sims,                             investing to increase automation and                procurement for the materials needed                 gas by LMS reduces carbon emissions
                                                     improve the operations of each of its               for production of gadgets. Second,                   – 40 million tonnes to date – and
Our Customers and the                                business divisions to deliver higher                discarded devices produce large                      provides enough local renewable
Environment                                          quality materials for customers.                    quantities of electronic waste, which
                                                                                                         includes hazardous waste. And third,
                                                                                                                                                              energy to power approximately
                                                                                                                                                              80,000 homes annually. In addition,
At Sims Limited, we’re seeking ways               • Minimising residual waste and
                                                    extracting maximum value from                        the large amount of data consumption                 to close our own loop, Sims Limited
to help the industries in which we’re                                                                    requires significant amounts of                      established a new business division,
involved to capture more value in their             waste. Sims Municipal Recycling
                                                    is developing waste management                       electricity to power the data centres,               Sims Resource Renewal. This
activity by using circular principles and                                                                which contributes to climate change.                 division will take the material leftover
business models. We’re doing this                   solutions for mega cities, helping
                                                    cities move to combine recycling                     Electronic waste could be reduced                    from recycling old goods such
through:                                                                                                 through reuse, repair or resale, and                 as cars, washing machines and
                                                    material and increase recycling rates
                                                    from waste. High recycling rates are                 Sims Lifecycle Services is working with              home appliances, and via plasma
• The creation of closed loops: As the
                                                    essential for cities to minimise waste               information technology companies to                  gasification, create new useful
  largest listed metals recycling company
                                                    disposal costs, environmental and                    drive new approaches to regenerate                   products.
  in the world, Sims Metals takes
                                                    climate impacts, and to work toward                  technologies and increase recycled                Changing behaviour so people and
  common metal waste, such as cars
                                                    zero waste. At our material recovery                 content. For example, Sims Lifecycle              businesses are encouraged to rethink
  and kitchen appliances, and efficiently
                                                    facility in Brooklyn, New York, autosort             Services recently collaborated with               waste and reduce, reuse, repurpose
  process them into fist-size chunks,
                                                    technology uses high-resolution,                     an information technology company                 and recycle is also crucial. As a leading
  which are then sorted into various
                                                    near-infrared sensors to identify up to              to economically recover and recycle               innovator in the global circular economy,
  types of metals and sold. It may be
                                                    10,000 plastic objects per minute with               rHIPS and ABS plastics, which are                 we continuously are seeking new ways to
  a surprise that the most recycled
                                                    more than 95 percent accuracy.                       then being used to manufacture new                effectively collaborate with stakeholders
  consumer product in the world isn’t
                                                                                                         products. These products will have a              to shift mindsets and work toward a safe
  a plastic bottle or soup can. It’s the          • Second-life opportunities: As one                    Green Label to identify them as being             and sustainable future, where waste is
  automobile.5 Approximately 80 percent             of the largest electronics recyclers,                manufactured with post-consumer,                  seen as a resource. Through educational
  of a vehicle can be recycled, and                 Sims Lifecycle Services is seeking to                closed-loop recycled content.                     activities with municipal residents that
  those recycled materials go into new              become the leading global provider
  vehicles or other products. Recycling             of “cloud recycling” solutions and the           • Innovating new, regenerative                        encourage rethinking consumption
  metals saves significant resources:               supply chain partner of choice to meet             business models: Our joint venture                  and recycling resources to looking for
  steel made with scrap metals uses 90              OEM recycled plastic needs. The                    partner LMS Energy is the owner                     practical levers for business to partner,
  percent less virgin material, 74 percent          increase in consumption of electronics             of the largest landfill-to-renewable                innovate and join policy action, Sims is
  less energy and 40 percent less water             has three major ecological challenges.             energy operation in Australia, providing            seeking to unlock value at every stage of
  than steel made from mining iron ore              First, it increases mining and                     a blueprint for landfill management                 the circular economy.
  and coal.6 Sims Limited is continually                                                               optimisation. The recovery of landfill

    What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050, World Bank                4
                                                                                                       The Circularity Gap Report 2020, Platform for Accelerating the Circular Economy
    Facts and Figures about Materials, Waste and Recycling, U.S. EPA                                 5
                                                                                                       World Auto Steel
    New Circular Vision for Electronics, World Economic Forum                                        6
             About Us                    The Sims Purpose        Managing Sustainability   Our Performance        About This Report


The Sims Limited Sustainability Strategy
A Circular Economy Just Makes Good Sense

For 103 years, Sims Limited has enabled the circular economy. What has been
                                                                                                                         Sims Limited Enables the Circular Economy
a business rooted in making the most of the ecosphere’s resources is now a
formalised concept and practice at the forefront of the world’s agenda.
That is why we can confidently              circular economy and in a great        relevant to the company, as well
say sustainability has been at              position to continue to drive this     as creating a higher level of
the core of what we do; it is the           opportunity.                           accountability that clearly aligns
right thing to do, and it makes                                                    sustainability with our long-term
good business sense. As we                  In 2020, COVID-19 created              success. FY20 was a crucial
help divert millions of tonnes              disruption and uncertainty, but        year for designing and building        PARTS MANUFACTURING
of secondary materials from                 it also made it abundantly clear       our sustainability strategy and                                          RECYCLE

landfill each year, we are directly         that everything in the world is        governance. To reaffirm our
reducing the need for extracting            truly interconnected and more          leadership commitments, we
virgin raw materials – and that             than ever businesses need to be        established baselines and
                                            adaptable, relevant and resilient                                               ASSEMBLY/PRODUCT
means that we are effectively                                                      targets, and actively engaged             MANUFACTURING
fighting climate change.                    to thrive. For a business to be        our stakeholders to identify gaps
                                            successful in the long-term, its       and opportunities.
                                                                                                                                                                    PARTS          LANDFILL GAS TO
Knowing that only 9 percent of              purpose needs to go beyond                                                                                                            ENERGY/RESOURCE
the world economy is circular               short-term stakeholder profit.

means circular business models              Our purpose is to create a world
need to thrive in order to deliver          without waste to preserve our
on climate change goals.                    planet.                                    D I D YO U K N O W ?
Climate change and the circular

economy are inextricably linked,            Our purpose is the basis we                                                                                      REFURBISH

as most secondary materials                 used to develop our strategic
require significantly less energy           growth and sustainability                 ONLY                                            USER

to transform into products than             strategies. Every single target
primary ones.1 Not to mention,              of our growth strategy is
the circular economy avoids                 embedded in our sustainability            OF OUR WORLD                                            RECOVER AND
the use of natural resources.               framework. This makes our                                                                           MANAGE
                                                                                      ECONOMY IS CIRCULAR?
Sims is at the centre of the                sustainability framework

    Source: The Circularity Gap Report
       About Us           The Sims Purpose    Managing Sustainability    Our Performance      About This Report



After the rigorous materiality assessment carried out in FY19 and external validation with investors, academic and industry experts,
we developed our sustainability ambitions and goals aligned to each pillar and to a United Nations Sustainable Development Goal

The Sims  Sustainability
    Sims Limited           Strategy
                 Sustainability Strategy

                                                                                           PARTNER FOR CHANGE

                                                                        CLOSE THE LOOP                                  Build trusted
                                                                                                                        relationships with
                                                                                                                        our communities

                                                OPERATE                                         Become carbon neutral
                                                                                                by 2042 and achieve
                                                                                                                        Create new

                                             RESPONSIBLY                                        net zero by 2050
                                                                                                                        business models
                                                                                                                        that further the
                                                                                                Achieve no waste        circular economy
                                                                                                to landfill
                          Foster a no-harm work environment
                                                                                                Close materials loops
                          Close gender gap
                                                                                                further by expanding
                          Develop a skilled and engaged workforce                               capacity and services
                          Ensure transparency on how our business
                          is conducted in an ethical manner

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Performance Indicator

                                              OPERATE RESPONSIBLY                                                                                                      CLOSE THE LOOP
       1 Foster a safe work environment                                                                                   5 Become carbon neutral by 2042 and achieve net zero by 2050
     1.1 Total Recordable Injury Frequency Rate (TRIFR) ≤1                                                              5.1 Multi-year targets under development for Scope 1 and 2
     1.2 Lost Time Injury Frequency Rate (LTIR) ≤0.10                                                                     6 Achieve no waste to landfill
     1.3 Achieve and maintain a safety culture index in the survey top quartile                                         6.1 Build resource renewal capacity to transform 120k tonnes of ASR per year into new
     1.4 Eliminate critical safety risks, Critical Risk Incident Frequency Rate (CRIFR) ≤0.50                               products

       2 Close gender gap                                                                                                 7 Close materials loops further by expanding capacity and services2

     2.1 25% women in manager positions and above1                                                                      7.1 Close loops by expanding secondary metal volumes

     2.2 Reach 0% gender pay gap across Sims Limited                                                                    7.2 Recycle 200,000 tonnes of cloud material

     2.3 Achieve representation of women on the board ≥40%                                                              7.3 Expand municipal recycling coverage by 50%

       3 Develop a skilled and engaged workforce                                                                        7.4 Capture methane from landfill outside Australia and New Zealand3
     3.1 Maintain an engaged and satisfied workforce as demonstrated by employee
         engagement survey results in the top quartile
     3.2 Invest in education by increasing the number of available career development training
         programmes by 50% and promoting them
     3.3 Improve annual employee performance review process to align with Sims Limited’s                                                                   PARTNER FOR CHANGE
         purpose; incorporate role competencies and a skills development plan
     3.4 Ensure management incentive plan is consistent with sustainability goals                                        8 Build trusted relationships with our communities
                                                                                                                       8.1 Establish at key sites a community index survey; track progress for continuous
       4 Ensure transparency on how our business is conducted in an ethical manner                                         improvement
     4.1 Train all employees and agents on our Code of Conduct, anti-corruption and anti-                              8.2 Annually, invest 0.5% of three-year rolling pre-tax profits in programmes that support
         bribery                                                                                                           environmental stewardship and economic empowerment
     4.2 Provide all employees with training on human rights, modern slavery and labour rights                         8.3 Dedicate paid employee time for community engagement/volunteerism activities
         to raise awareness and help fight human rights violations                                                       9 Create new business models that further the circular economy
     4.3 Develop a supplier Code of Conduct and implement supply chain due                                             9.1 Generate 10% of our EBIT from new business models and opportunities
         diligence to identify and address high risk of human rights violations and                                        that enable the circular economy
         unethical practices

    Managers that sit at CEO-1 and CEO-2 in reporting structure       2 For more details, take a look at our Growth Strategy.         3 Under review
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          By operating responsibly, we are looking to reinforce the foundation of a sustainable        Each of our sustainability pillars   With our focused strategy,
          company where responsible and ethical business practices are upheld, and employees           is intentionally aligned to one      we are entering into new
          are protected, engaged and developed to strengthen our most important internal               United Nations Sustainable           adjacencies and creating new
          equity: people.                                                                              Development Goal (UN SDGs).          business models that keep
                                                                                                       We understand the value of           resources in use at their highest
                                                                                                       the 17 UN SDGs, and we fully         value for as long as possible.
                                                                                                       support the vision they strive       We are a unique business that
          Closing the loop is what we do best. We help many close their material loops,                to accomplish. The best way          delivers on our strategic growth
          and we commit to investing in technologies that will enable us to extract more value         we can support that vision is        strategy by delivering strong
          from the secondary materials we get. But even better, we are raising the bar on              by being intentional agents of       ESG outcomes and profits.
          sustainability by closing our own materials loops and making the circular economy not        change and focusing on the UN        FY20 marks the beginning of
          only our business, but the principle we follow on how we operate.                            SDGs we can impact the most.         a dramatic transformation for
                                                                                                       Those goals are:                     the world, and by executing on
                                                                                                       • Decent Work and Economic           our sustainability strategy, we
          Partnering for change is the only way to amplify our impact and create shared                   Growth                            are setting Sims up to thrive for
          value. We commit to working with our value chain partners to create new business                                                  many years to come.
                                                                                                       • Climate Action
          models that support a circular economy and engage with our communities to build              • Responsible Consumption

          trusted relationships.                                                                          and Production

                                                                                                          What’s really exciting is the opportunity for
                                                                                                          this traditional industry to redefine itself as a
                                                                                                          critical link in a global circular economy. In Sims
                                                                                                          Limited’s case, this means a companywide call
                                                                                                          to innovation, and an invitation to investors to
                                                                                                          reimagine themselves as sustainability advocates
                                                                                                          and communities as partners for change. Not
                                                                                                          all company or city climate-action plans include
                                                                                                          circular economy, but a 1.5°C scenario won’t be
                                                                                                          achieved without it!
                                                                                                          Terry Nelidov, Managing Director, Erb Institute at the
                                                                                                          University of Michigan
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Recycling and Reusing the Cloud
As the global demand for                estimated 2 million tonnes of        Through refurbishment and
data centre storage grows,              equipment is expected to be          redistribution, SLS is helping
equipment at these facilities is        available for decommissioning        clients eliminate electronic
being upgraded and expanded             each year.                           waste and advance their zero-
at a rapid pace. Instead of                                                  waste targets, while minimising
disposing end-of-life servers           To accelerate the transition to      costs and retaining value.
and computing equipment, Sims           a more circular economy, SLS
Lifecycle Services (SLS) is             is helping companies securely
working with data centres and           manage hardware in their data
enterprises to “recycle the cloud”      centres. Once data centre
and redeploy retired hardware.          material is decommissioned,
                                        SLS works with clients to
Worldwide, spending on cloud            provide guidance on how to best
IT infrastructure is expected to        process equipment. Often, in
grow at a five-year compound            accordance to client contracts,
annual growth rate of 10.4              servers are dismantled to
percent, reaching $109.3 billion        recover components that still
in 2024 and accounting for 63.6         possess value outside the
percent of total IT infrastructure      data centre environment.
spend, according to IDC.                Refurbished parts may be
Currently, data centres utilise         placed into inventory and reused
an estimated 6 million tonnes           to build remanufactured servers.
of rack and server material.            In other instances, equipment is
Considering the lifecycle of            directly deployed back into data
data centre servers averages            centres or sold externally.
between three to five years, an

Through refurbishment and redistributions, Sims Lifecycle
Services is helping clients eliminate e-waste and advance
their zero-waste targets, while minimising costs.
SIMS LIMITED     |     21
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How Sims Limited Creates Value
Sustainable growth creates economic opportunities, environmental and social benefits, and increases business resilience. This
transition requires a systemic shift that closes, optimises and values resource loops across the value chain.

What We Rely On                                               What We Do                                                     The Value We Create

                                                                                                                                    Natural Capital
             Natural Capital                                                                                                        • Diverting resources
             • Metal scrap bought from                                                                                                from landfills and
               individuals to large companies                                                                                         reducing demand
               and municipalities                                                                                                     for virgin materials,
                                                         Metal Recycling               Electronic Lifecycle Services                  including GHG
             • E-waste take-back programmes                                                                                           emissions reductions
               and collaborations with brands        Recovering, processing and             E-recovery and IT asset                   and energy savings
                                                    selling steel, iron, copper and    disposition (ITAD) for regional and
             • Curbside recycling including          aluminium to manufacturers         global businesses, data centres             • 8.2m tonnes of
               metal, glass, plastic and paper                                         and electronic original equipment              secondary metals
                                                                                                                                      recycled annually            Financial
                                                                                            manufacturers (OEMs)
                                                                                                                                    • 600k tonnes of               Capital
             Manufactured Capital                                                                                                     municipal curbside
                                                                                                                                                                   • Delivering
                                                                                                                                      recycling processed
             • $1.2bn property, plant and                                                                                                                            $4.9bn in sales
               equipment assets                                                                                                     • 24.6k tonnes of cloud          revenue and
                                                                                                                                      material recovered             shareholder
             Human Capital
             • 4,000 employees across 200
               facilities all over the world

             Financial Capital
                                                                                                                              Human Capital                   Social Capital
             • Attracting long-term investment
                                                                                                                              • Providing fair                • Advancing the
                                                       Municipal Recycling                 Resource Renewal and                 remuneration;                   circular economy
                                                                                                                                developing a safe,              and supporting local
             Social Capital                             Solutions for curbside               Renewable Energy                   healthy, engaged and            economies by having
             • Strategic relationships with            recycling in major cities                                                diverse workforce               nearly all of our
                                                                                                 Utilising auto shredder
               communities, customers, industry                                                                                 globally including              spending done with
                                                                                                residue (ASR) and landfill      hiring from the local
               associations, government,                                                                                                                        local suppliers
                                                                                               gases to create energy and       community
               suppliers and other specialists
                                                                                               useful products for society
SIMS LIMITED    |    22
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Demystifying Municipal Recycling
When we drop an empty plastic bottle or
yesterday’s newspaper into our curbside
recycling bin, few of us think of ourselves
as an essential supplier to a global,
multibillion-dollar value chain. But the
actions we take to sort our recyclables in
                                                  When more people understand the importance of reducing
                                                  waste in a finite world, I believe more people will recycle and
                                                  find ways to do a better job of it. Tom Outerbridge, general manager
                                                  of Sims Municipal Recycling
our kitchens is the first step in the path
toward ensuring that our used household
materials find a second life in new products
and advance a circular economy.                 Global Markets and                              Likewise, when China, the largest
                                                                                                consumer of recycled materials, stopped
Few people understand this better than          Fluctuating Demand                              the import of recycled material in 2018,
Tom Outerbridge, who has been the                                                               municipalities across North America and
                                                Similar to farming or mining, the               Europe felt the ripple effects. “For us,
general manager of Sims Municipal
                                                recycling business is impacted by both          the impact on the market is very material      As a result of this market disruption,
Recycling (SMR) for more than 15 years.
                                                global markets and local conditions.            specific,” Outerbridge says. “Where            many municipalities are facing higher
SMR is the processor and marketer of
                                                On the demand side, a natural disaster          China was playing the biggest role as          costs to cover processing fees.
all commingled curbside recyclables
                                                or change in government policy half a           the world’s largest consumer of recycled       “Recycling has always had costs
collected in New York City, as well as
                                                world away can seed disruptions. Earlier        materials was in the area of residential       associated with it. These have often been
surrounding towns and cities. SMR also
                                                in 2020, when the COVID crisis and              curbside paper and in mixed plastic.”          partly or largely offset by the sale value
handles recyclables for Palm Beach
                                                economic downturn punctured oil prices,                                                        of recycled materials, but this model
County, Florida. Outerbridge is currently
                                                it also cut the price of new plastic –          SMR was less impacted by the ban on            is now upside down due to depressed
responsible for approximately 600,000
                                                making drink bottles made from recycled         mixed plastics than other MRFs because         commodity values,” Outerbridge explains.
tonnes per year of recyclables produced by
                                                plastic resin less economically viable.         it had invested in optical sensors and
11 million people.                                                                                                                             Outerbridge sees Extended Producer
                                                Why? Because every piece of plastic             other state-of-the-art equipment that
“We take in mixed recyclables – metal           starts life as a fossil fuel and recycled       enabled it to fully sort its plastics stream   Responsibility (EPR) legislation for
cans, glass bottles and plastic containers      materials have to compete with virgin raw       into resin categories of type and color        packaging as one way to offset recycling
– at our material recovery facilities (MRFs),   materials prices.                               to the specifications of North American        costs to municipalities.
where they are sorted into distinct resin                                                       markets.                                       “If we think of recycling as a public
types and different grades of metal so they                                                                                                    service and an environmental necessity,
                                                                                                “Our paper, on the other hand, was going
can be sold into the secondary materials          Sims Municipal Recycling                      to China. It had the biggest, newest mills     you can look at EPR as a way to
market. We process them to the degree
that they become suitable feedstock for the
                                                  is currently responsible for                  consuming residential mixed paper, and         decouple that service from volatile
                                                                                                China was highly dependent on imported         commodity markets,” he says. “The fee
next stage in the manufacturing process,”         processing approximately                                                                     associated with the package is tied to the
                                                                                                fibre for the paper products. That part
Outerbridge explains.                             600,000 tonnes per year of                                                                   value or cost of managing that material.”
                                                                                                of the business has been severely
                                                  recyclables produced by                       impacted.”
                                                  11 million people
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Local Participation and                        Increasing Value Across                           legislators to help incentivise product   raw materials,” Outerbridge says. “Yes,
                                                                                                 manufacturers to choose materials that    there’s an added benefit that you’re not
Education                                      the Recycling Supply                              are most favorable for recycling.         putting a plastic bottle or paper into the
On the supply side, the recycling              Chain                                           When more people understand the             landfill. But really the big environmental
                                                                                                                                           benefit in terms of energy consumption,
business is very grassroots and                                                                importance of reducing waste in a finite
                                               Improving how our society uses materials                                                    water consumption and CO2 emissions is
locally driven. The rules, practices and                                                       world, Outerbridge believes more people
                                               is fundamental to our economic and                                                          that you’re replacing virgin raw materials
community norms around recycling                                                               will recycle and find ways to do a better
                                               environmental future. That’s why, in                                                        with recycled materials to make new
vary considerably from place to place,                                                         job of it.
                                               addition to overseeing daily operations,                                                    products. It’s far more efficient to make
contributing to dramatically different local
                                               Outerbridge often can be found working                                                      new aluminium out of recycled aluminium
recycling levels. Because of that, SMR                                                         “The much bigger reward to the
                                               with stakeholders across the value chain                                                    versus bauxite or paper out of recycled
works with its municipalities on public                                                        environment and to the planet is that
                                               to demystify recycling and strengthen the                                                   fibre versus raw virgin pulp.”
education to increase recycling rates and                                                      you are displacing the use of virgin
encourages that the right items reach the
recycling bins without contamination.          • Because successful recyclability
                                                 starts in the product design phase,
“The success of our business is
                                                 more and more brand owners are
obviously dependent to a large extent on
                                                 using the equipment at SMR’s New
the market conditions and how good we
                                                 York processing facility to test the
are at operating,” Outerbridge says. “But
                                                 recyclability of new packaging.
the starting point for the whole business
is: how well does the public participate?”     • To enhance public awareness,
                                                 Outerbridge and his staff regularly
In New York, the recycling capture rate is       promote the importance of reducing
approximately 55 percent. “This means            waste and recycling through its
45 percent of good recyclables – items           education centre. Activities have
that we want and that we have the ability        ranged from open house events that
to process – are still going into a garbage      draw hundreds of New Yorkers to
bag,” he says. “That’s in the order of           hosting sustainability experts from
100,000-plus tonnes a year of material           the World Council for Sustainability
that is being sent to a landfill at a cost       Business Development and United
to the city. Some of it doesn’t have a           Nations.
huge amount of value, but we still have a
                                               • To help expand markets for recycling,
market for it. A lot of it does have value.”
                                                 Outerbridge works with trade
                                                 associations, regional councils and
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                                                           S U S TA I N A B I L I T Y

                                            Accountability, Strategic
                                            Growth and Governance:
                                            Key to Our Sustainability
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Trust in our business depends on robust governance and processes that address the most important sustainability impacts and
opportunities for our stakeholders and our business. We’ve taken a deep dive into these issues to evolve and strengthen how we
manage sustainability.
Sims Limited’s Board of Directors and executive             This is fundamental to fostering investor confidence and          the Board met monthly at a minimum. Board members
leadership team (ELT) are committed to operating            driving higher value for shareholders through prudent             participated in key management committees and
the business in an ethical manner consistent with the       risk management and a culture that encourages ethical             meetings that were established to address the risks
highest standards of corporate governance.                  conduct, accountability and sound business practices.             associated with COVID-19. Notably, the chair of the
                                                                                                                              Audit Committee of the Board participated in the global
Our Board is responsible for establishing sound             You can find Sims Limited’s Board and Committee                   Finance Cash Flow Management Committee meetings
corporate governance practices that ensure we               Charters, General Codes and Policies, including the               and the chair of the Safety, Health, Environment,
uphold our core values of safety, integrity, respect,       Safety, Heath, Environment and Community Policies,                Community and Sustainability (SHECS) Committee of
transparency, excellence and social responsibility.         online. You can also read more about our approach to              the Board attended the company’s global COVID-19
                                                            responsible business on page 68 of this report.                   Response Team meetings. The meetings established
They also provide strategic guidance, set key
                                                                                                                              protocols to assist and protect employees and prevent
objectives, monitor performance and validate that           The Board met 12 times during FY20. The meetings
                                                                                                                              the spread of the virus within our sites, as well as help
Sims Limited’s internal control, risk management and        involved strategy review and extensive interaction with
                                                                                                                              execute across our sites the business continuity plan
reporting procedures are adequate and effective,            members of the executive leadership team, as well as
                                                                                                                              triggered by the pandemic.
and they name the CEO who will manage the overall           the regular oversight exercised by the Board through
organisation.                                               its meetings. As COVID-19 evolved into a pandemic,

Our Core Values

  Safety                        Transparency                 Integrity                        Excellence                      Respect                       Social Responsibility
  Safety will always            We ensure a sense            We conduct all business          We commit to                    We will treat each            We aim to be the
  be our first priority.        of appropriate               with integrity and               excellence in                   other, our customers,         world’s safest and
  We believe that               transparency                 adhere to the highest            everything we do and            visitors and community        most responsible
  all incidents are             in everything we do.         standard of ethical              champion continuous             members with respect          recycling and recovery
  preventable and we                                         business conduct.                development and                 and dignity.                  company.
  are committed to a                                                                          sharing of best practices
  goal of zero injuries.                                                                      across the company.
You can also read