Li-Cycle Releases 2023 Sustainability Report

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by KnowESG
KnowESG_Li-Cycle Releases 2023 Sustainability Report
Image courtesy of Li-Cycle

Li-Cycle Holdings Corp., a leader in lithium-ion battery recycling, released its 2023 Sustainability Report.

This report expands on their 2022 efforts, detailing their environmental, social, and governance (ESG) achievements and future plans. Also, Li-Cycle published its first Modern Slavery Report, complying with Canadian regulations.

Sustainability Integrated into Core Business

The 2023 Sustainability Report showcases how ESG principles are central to Li-Cycle's operations and strategy. The report aligns with the latest Sustainability Accounting Standards Board (SASB) guidelines and considers the UN Global Compact's Sustainable Development Goals.

Key Sustainability Achievements

  • Enhanced data tracking for improved transparency on ESG metrics.

  • Perfect safety record with zero critical incidents since founding.

  • Diverted 84% of materials from landfills through their recycling processes.

  • Achieved zero Scope 1 emissions from their recycling operations.

  • Completed a company-wide assessment of climate change risks and opportunities.

  • Strengthened their health, safety, environment, and quality management systems.

  • Joined the UN Global Compact, a leading corporate sustainability initiative.

  • Established a Human Rights Policy, solidifying their commitment to ethical and safe operations.

  • Powered their German operations entirely with renewable energy.

  • Implemented over 180 employee-driven safety improvements in North America.

  • Achieved 30% female representation on the Board, reflecting their commitment to diversity.

  • Increased community engagement across all locations.

Sustainability Focus for the Future

Li-Cycle remains dedicated to refining their ESG programmes and enhancing data collection. They aim to align with the Taskforce on Climate-Related Financial Disclosures (TCFD) recommendations by 2025, improving climate change reporting transparency.

Modern Slavery Report

Li-Cycle's inaugural Modern Slavery Report details their efforts to combat human rights abuses and forced labour within their supply chains. This report aligns with Canadian regulations and reflects their commitment to ethical sourcing practices.

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Source: Li-Cycle

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