The Importance of Waste Recycling Services in Achieving ESG Goals

Welcome to our ESG-focused blog, where we delve into the Waste Recycling Services Industry and its journey towards sustainability. As the world grapples with the challenges of waste management and environmental conservation, it is crucial for this industry to prioritize Environmental, Social, and Governance (ESG) considerations. Let's explore the key aspects of ESG that the Waste Recycling Services Industry should embrace.

Environmental Sustainability:

The Waste Recycling Services Industry plays a critical role in minimizing waste, conserving resources, and reducing environmental impact. By investing in advanced recycling technologies, optimizing waste collection and sorting processes, and promoting circular economy principles, companies can contribute to a greener future.

Social Responsibility:

Promoting social inclusion and community engagement is vital for the Waste Recycling Services Industry. By creating employment opportunities, supporting local communities, and collaborating with stakeholders, companies can generate positive social impacts and foster sustainable development.

Governance and Ethics:

Transparent and ethical practices are essential for building trust and credibility within the Waste Recycling Services Industry. Adhering to regulatory requirements, ensuring responsible waste disposal, and prioritizing health and safety standards are crucial aspects of governance that companies should prioritize.

Is your business one of the participants in the Waste Recycling Services Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Growth of the Waste Recycling Services Market

The global waste recycling services market size to be valued at USD 81.3 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. During the forecast period, it is expected that growing consumer awareness of the advantages of waste recycling will have positive impact on the market growth.

The adoption of strict rules has accelerated waste recycling research and development efforts, which is anticipated to foster market expansion throughout the forecast period. There have been many different disposal methods and procedures developed because of growing knowledge about the importance of efficient waste disposal for the protection of both human and animal health.

High levels of toxic substances found in trash, including metals and salts, have forced waste-generating businesses to promptly recycle or dispose of the material. Global domestic housing demand is expected to be driven by urban population expansion and rising disposable incomes. Improvements to the housing market will therefore increase the uptake of these recycling services, which will in turn spur market expansion over the projection period.

Key Companies in this theme

    • Eurokey recycling ltd.

    • Northstar recycling

    • Triple M Metal LP

    • Amdahl corp.

    • Interface inc.

    • Covanta

Browse more ESG Thematic Reports from the Technology Sector, published by Astra - ESG Solutions

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Role of ESG in the Food Waste Management Industry

Environmental, Social and Governance (ESG) strategies have become paramount to steer positive change for the planet, people, communities and other stakeholders. Sustainability has garnered headlines with measures for waste reduction, carbon emissions and higher raw material costs. The global push to boost ESG performance has compelled brands to emphasize recycling and waste management.

Notably, the adoption of the Sustainable Development Goals suggests countries' commitment to helping halve per capita food waste at the consumer and retail levels and minimize food losses by 2030. Amidst efforts to bolster food accessibility, around 687 million people go hungry each day, according to a report cited by the World Bank. In essence, the organization notes that 1.3 billion tons of food are wasted by consumers and retailers or lost along the supply chain.

Investors, shareholders and other stakeholders are emphasizing the reduction of environmental footprint. Government agencies and organizations are responding to demands for ESG reporting. The emergence and implementation of policies have made a profound difference in the industry. In August 2022, U.S. President Joe Biden inked an Inflation Reduction Act, alluding to the injection of USD 369 billion into energy and climate projects in the next 10 years. Several provisions of the Act aim to minimize greenhouse gas emissions by a billion metric tons by 2030. 

Key Companies in Food Waste Management Industry

    • Veoli

    • Suez

    • Waste Management, Inc.

    • Republic Services, Inc.

    • Covanta Ltd.

    • Stericycle, Inc.

Discover more regarding the practices and strategies being implemented by industry participants in the Food Waste Management Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

Food waste management companies have exhibited bullish traction for ESG as they augment greenhouse gas emission- and food waste- reduction targets. Boosting sustainable practices to motivate vendor partners, stakeholders and communities can solidify the company's position in the global ecosystem. To illustrate, Albertsons Companies mentioned in its report the commitment to zero food waste going to landfills by 2030.

The American grocery company is vying to propel the reusability, recyclability and compostability of Own Brands packaging by 2025. Furthermore, it is gearing to achieve net zero emissions in its operations by 2040 and 47% carbon reduction from its operation by 2030. Prominently, the company suggested it diverted over 215 million pounds of food from landfill with the help of anaerobic digestion. Industry partners and leaders are expected to be inclined towards creating a sustainable food system, eradicating hunger and undergirding food security.

Is your business one of the participants in the Food Waste Management Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Social Perspective

Amidst the prevalence of food insecurity, an emphasis on customers' and employees' well-being has prompted industry leaders to bank on the social pillar. In doing so, stakeholders have upped their efforts on diversity, equity and inclusion to foster community engagement, augment the pool of diverse candidates, expand training and promote racial equity and social justice. For instance, in 2021, Kellogg's included Potential Severe Injury Fatality cases and rolled out EHS Insight Dashboards to offer better trends analysis of EHS data. The company claims to have no fatalities in 2021, with a global total Kellogg total reportable incident rate of 0.42.

The food company has furthered its efforts on diversity globally. For instance, as of December 2022, 25% of the 3,000 employees in Kellogg India are women. Women of Kellogg + (WOK+) has become pivotal in empowering women and advocating gender equity in the workplace. The American food manufacturing company is committed to Human Rights Campaigns Best Place to Work for LGBTQ Equality and Diversity Best Practices Index, among others. Companies are expected to embrace the commitment to diversity, equity and inclusion to deliver upsides to the communities, people and the environment.

Governance Perspective

Food waste management companies are counting on corporate governance, transparency, board diversity, corporate behavior and ethics to stay ahead of the curve. Diversity of experience, skills, backgrounds, qualifications, expertise and age will hold the key to selecting board members. Notably, in Veolia, seven out of ten directors on the Board of Directors of Environment are independent. The BoD is responsible for drafting the agenda of the annual shareholders meeting and appointing the chairman and the financial statements. The company has four committees: Research, Innovation and Sustainable Development Committee, accounts and audit committee, nominations committee and compensation committee.

Brands, such as Veolia, have made a giant stride in gender diversity to bolster their position in ESG performance. Prominently, the company has 33% women on the Executive committee and is gearing up for 25% women among Group executives by 2023. With gender diversity and professional equity gaining ground, companies are poised to create meaningful change through investments in governance.

The competitive landscape alludes to an emphasis on organic and inorganic strategies to tap into the global landscape. To put things in perspective, commitment to environmentally friendly food practices using state-of-the-art technologies may become pronounced in the ensuing period. The use of machine learning and AI could become the next big thing to reduce waste and propel sales through inventory management. Amazon asserts the Amazon Forecast has helped its customers in Greater China minimize product waste by 37%, leading to 22% cost savings across three merchandise categories and 168 stores.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research