Neo Performance Materials joins U.N. Global Compact to promote sustainability
by CM Staff
Neo also works to manufacture its products using sustainable practices, such as recycling and feedstock recovery, which helps to reduce environmental impacts.
TORONTO — Neo Performance Materials Inc. announces that it has become a participant in the United Nations Global Compact, the world’s largest corporate sustainability initiative, and has committed to implementing the Global Compact’s 10 Principles on human rights, labour, environment and anti-corruption.
“As a company Neo is committed to making the UN Global Compact and its principles part of the strategy, culture, and day-to-day operations of our company, and to engaging in collaborative projects that advance the broader development goals of the United Nations, particularly the Sustainable Development Goals,” said Constantine Karayannopoulos, Neo’s CEO. “We support public accountability and transparency, and therefore we commit to reporting on progress within one year of joining the UN Global Compact, and annually thereafter according to the UN Global Compact COP policy.”
As a manufacturer of rare earth and rare metal advanced materials, Neo’s products are critical to technologies that reduce air and water pollution, achieve better fuel economy, increase energy efficiency, and reduce greenhouse gases and other harmful air emissions.
Neo also works to manufacture its products using sustainable practices, such as recycling and feedstock recovery, which helps to reduce environmental impacts throughout its supply chains and accelerate the world’s transition to an environmentally sustainable future. For example:
- Neo recycles scrap and byproduct waste streams in Europe and North America to produce gallium, indium, rhenium, niobium, and tantalum.
- Neo recycles neodymium-praseodymium (“NdPr”) for use in rare earth magnetic powders and magnets.
- Many of Neo’s facilities employ closed loop recycling systems.
- Neo’s subsidiary, NPM Silmet, has successfully undergone a conflict minerals due diligence assessment, as certified by the Responsible Business Alliance, in compliance with the Responsible Minerals Assurance Process Standards for Tantalum.
- Neo’s newest U.S.-to-Europe supply chain will produce rare earth feedstock from natural monazite sands that are a byproduct of other mining.