Harsco Releases 2020 Environmental, Social and Governance Report
- Company now derives 82-percent of annual revenue from environmental solutions, up from 62-percent three years ago.
- Over 75-percent of waste and byproduct material processed annually is recycled or repurposed; 94-percent in new Clean Earth division.
- Company launched 29 new environmental solutions in 2020, an increase of nearly 32-percent from 2019.
- For first time ever, Company incorporates an ESG modifier in top 70 executives’ performance evaluations.
CAMP HILL, Pa. – (May 19, 2021) – Harsco Corporation (NYSE: HSC), a global market leading provider of environmental solutions for industrial and specialty waste streams, today released its Environmental, Social & Governance (ESG) Report, highlighting the Company’s corporate sustainability accomplishments throughout fiscal year 2020.
Harsco’s most comprehensive sustainability report to date provides a detailed look at its ESG focus areas, vision, strategy, values, code of conduct and governance structure. To read the full report, visit: www.harsco.com/sustainability.
Harsco is rising to the challenge of making the world a better place by responsibly solving the most difficult global environmental challenges. In April 2020, the Company completed its largest acquisition to date, acquiring Stericycle’s Environmental Solutions (ESOL) business and integrating it with the Clean Earth division, creating what is now one of the largest hazardous waste treatment and recycling companies in the U.S.
“Our corporate vision to be a global leader of environmental solutions is fully intertwined with our ambition to be an ESG leader in the industry and is critical to successfully executing our ongoing growth strategy,” said Nick Grasberger, Chairman & CEO of Harsco Corporation. “Our clear vision of sustainable environmental solutions gives purpose to Harsco’s present and defines our future.”
The 2020 Harsco ESG Report is informed by leading sustainability reporting standards, including the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB).
Highlights of the report include:
Focus Areas and Goals
As part of its ESG strategy, Harsco has defined four focus areas where it creates value for the business and positive outcomes for stakeholders.
- Innovative Solutions
- Derive over 90-percent of annual revenue from its environmental solutions businesses.
- Recycle or repurpose more than 75-percent of the waste and byproduct material it processes annually.
- Thriving Environment
- Reduce the energy and carbon intensity of the Company’s operations 15-percent by 2025.
- Avoid more than 25 million tons of carbon emissions from its recycling and repurposing solutions from 2019 to 2025.
- Safe Workplaces
- Achieve a Total Recordable Incident Rate of less than 1.0 in 2021.
- Demonstrate continuous improvement in its five-year safety record.
- Inspired People
- Enhance diversity and gender representation on the board and senior management team.
- Contribute over 10,000 hours of employee volunteer service to community organizations.
To meet the growing needs of its partners, the planet and our global society, Harsco is committed to accelerating the transition to a circular economy by treating, recycling and repurposing industrial byproducts and specialty wastes. The Company recycled or repurposed over 75 percent of the material processed in 2020.
Harsco Environmental 2021 Priorities
- Increase proportion of mill services that provide environmental benefits to steel customers.
- Grow Applied Products and SteelPhalt businesses.
- Rebalance its portfolio to be more environmentally focused.
Clean Earth 2021 Priorities
- Focus on organic growth opportunities, including growing the new Fullcircle Advanced Waste Lifecycle Program, a concierge service that carefully and strategically analyzes waste before it even happens.
- Add treatment capabilities at existing transfer, storage and disposal facilities.
Executive Pay and ESG Performance
Harsco implemented an ESG modifer for its executive leadership team and some additional employee participants in the Company's annual incentive plan, modifying these individuals' annual variable compensation by +/- 10-percent across several ESG dimensions, including health & safety, environmental compliance, ethics and compliance diversity, equity and inclusion, and employee engagement and development.
“Tying a portion of annual incentive compensation for our top 70 executives to our ESG performance is another demonstration of how seriously we are committed to making progress on our ESG goals while building a better future for our people and our planet,” Grasberger said.