There are those who believe that global warming is a seriously blown-out-of-proportion phenomenon. Then there are those who think it’s a ticking time bomb to complete environmental annihilation and we’re running out of time. Fast.
Whether you choose to believe in global warming or not, you cannot deny that there’s been an immense load of interest in it. What it has done is brought back recycling under public gaze. Recycling has become an important part of modern day corporate social responsibility.
And it seems businesses are taking it seriously with many big names of the corporate world showcasing their commitment to the environment in general and recycling in particular by making huge investments in the area.
Let’s take the example of global scrap metal management company Sims Metal Management. Although they’ve been in the business of electronics and metal recycling for decades, they’re making continuous investments in
environmentally-just and clean technologies for their recycling operations.
A case in point is their scrap metal recycling facility in various locations that utilizes the best recycling technologies from around the world and reduces the truck traffic in the region, while creating hundreds of “green” jobs for the locals.
Another standout example is that of Belgium-based materials group Umicore. The company has invested heavily in recovery technologies over the last few years including millions of dollars on its recycling facility that extracts precious metals and minerals from mining waste and industrial products.
Says a lot about a company that started out as a mining firm before making a radical transformation to a specialty metals refining, recycling, and recovery business, doesn’t it?
Eye on the Future of Recycling
But it’s not just those who’re in the business of recycling that are investing in it. Companies whose core business has got nothing to do with recycling are also making their presence felt in the realm.
Recently, a group of large companies got together to start a fund called the Closed Loop Fund aimed at making investments in recycling infrastructure. Their goal is to bring more recycled materials into the manufacturing supply chain in order to boost the recycling rate in the country that seems to be levelling off even as the demand for recycled feedstock continues to rise.
Nine of the biggest names in the corporate world who have invested into this fund are Wal-Mart and the Wal-Mart Foundation, Colgate Palmolive, Coca-Cola, Goldman Sachs, Johnson & Johnson, Keurig Green Mountain, PepsiCo and the PepsiCo Foundation, Procter & Gamble, Unilever.
If there’s one thing that these companies show by pouring their money into this fund, it’s the fact that they have both the will and the intent to be more environmentally responsible.
Why Are Companies Interested in Recycling?
Well, for one, it’s good for the environment. Using recycled materials instead of virgin ore has fewer environmental impacts. Reduced greenhouse gas emissions, lower energy consumption, and conservation of natural resources are some of the environmental benefits of using recycled feedstock for manufacturing.
Second, it makes business sense. Recycled feedstocks are often priced lower than their virgin counterparts. It is much less expensive to re-refine materials than extract them from the ground from scratch and this cost benefit obviously gets passed on to companies.
According to a report published by As You Sow, a non profit organization promoting environmental and corporate social responsibility, $11 billion of recyclable materials are wasted annually. Now just imagine the environmental and economic impact if all this material was recycled. That’s why the biggest and the best are investing in recycling. When are you starting?
