{"id":17316,"date":"2022-05-24T07:00:17","date_gmt":"2022-05-24T11:00:17","guid":{"rendered":"http:\/\/www.neomaterials.com\/?p=17316"},"modified":"2023-08-03T18:10:04","modified_gmt":"2023-08-03T22:10:04","slug":"neo-publishes-inaugural-sustainability-report","status":"publish","type":"post","link":"https:\/\/www.neomaterials.com\/neo-publishes-inaugural-sustainability-report\/","title":{"rendered":"Neo Publishes Inaugural Sustainability Report on Environmental, Social & Governance Performance and Initiatives"},"content":{"rendered":"\t\t
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TORONTO, Canada,<\/strong> May 24, 2022 \u2013 Neo Performance Materials Inc. (“Neo<\/strong>“, the “Company<\/strong>“) (TSX:NEO<\/strong>) is pleased to announce the publication of its inaugural Sustainability Report<\/strong><\/a> which provides information to shareholders, customers, industry partners, employees, and stakeholders on the Company\u2019s environmental, social, and governance (\u201cESG<\/strong>\u201d) performance in 2021.\u00a0 The Report<\/strong><\/a> also launches a formal reporting process that helps to explain and document Neo\u2019s ongoing efforts to produce the advanced materials that help the world transition to a more sustainable and less carbon-centric future.<\/p>

Neo\u2019s Sustainability Report 2021 can be viewed here<\/strong><\/a>.\u00a0 A downloadable version of the report is available here<\/strong><\/a>.<\/p>

\u201cNeo has worked hard over the past several decades to lead our industry in environmentally responsible production practices, and we are proud of the fact that the materials we produce are critical to the world\u2019s transition to greener and smarter technologies,\u201d said Constantine Karayannopoulos, Neo\u2019s CEO.\u00a0 \u201cIt is my hope that this Sustainability Report helps to document the fact that Neo \u2018walks the talk\u2019 of ESG and improved sustainability, and that we are firmly committed to helping enable the world\u2019s transition to a less-carbon intensive economy.\u201d<\/p>

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Download Neo’s Sustainability Report 2021<\/a> here<\/a><\/em><\/figcaption><\/figure>

Neo worked with several expert groups in developing its report, which followed several primary reporting standards, including those developed by the Sustainability Accounting Standards Board, the United Nations Global Compact, and the United Nations\u2019 Sustainable Development Goals.\u00a0 Neo is a signatory of the UN Global Compact and has committed to furthering the Compact\u2019s 10 Principles, which are derived from the Universal Declaration of Human Rights, the International Labour Organization\u2019s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.\u00a0 Neo also is an active member in the Responsible Minerals Initiative, the European Raw Materials Alliance, Wind Europe, the Tantalum and Niobium International Study Center, and the Rare Earth Industry Association.<\/p>

Neo\u2019s commitment to sustainable practices is illustrated by the fact that all five of Neo\u2019s flagship rare earth facilities, representing more than 90% of revenue generated by the Company, are now operating in the EcoVadis tracking and reporting system.\u00a0 Neo\u2019s rare earth and rare metal processing facility in Sillam\u00e4e, Estonia \u2013 the only operating commercial rare earth separations and rare metal processing plant in the European Union \u2013 was awarded a Gold Medal by EcoVadis for its 2021 sustainability programs. \u00a0This places the plant in the top five percent of all facilities around the world reporting to EcoVadis for its sustainability programs.<\/p>

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A photovoltaic system generates renewable power at Neo Magnequench’s Korat, Thailand facility. This plant earned a Gold Medal for sustainability from EcoVadis. The solar power generation helps to avoid the emission of 78 tonnes of C02 per year.<\/em><\/figcaption><\/figure>

Neo Magnequench\u2019s rare earth magnetic materials manufacturing facility in Korat, Thailand was also awarded Gold Medal by EcoVadis for its 2021 sustainability performance, placing that plant in the top five percent of all facilities around the world reporting to EcoVadis.<\/p>

A second Neo Magnequench\u2019s facility, located in Tianjin, China, achieved a Silver Medal from EcoVadis for its sustainability performance in 2021, placing it in the top 25% of all EcoVadis respondents.<\/p>

In addition to formalizing a more intensive ESG progress reporting structure within the Company, Neo undertook a number of actions and initiatives in 2021 to advance the Company\u2019s ESG efforts and its contribution to global sustainability, including these:<\/p>