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Li-Cycle Publishes 2023 Sustainability Report
May 28, 2024
4 Min Read
Courtesy of Li-Cycle
TORONTO- --Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, is pleased to announce the publication of its 2023 Sustainability Report.
Building on Li-Cycle’s inaugural 2022 Interim Environmental, Social, and Governance (ESG) Report, the Company’s 2023 Sustainability Report provides a look back at the progress the Company has made over the past year and offers enhanced details of its ESG performance and planned initiatives. Li-Cycle is also pleased to announce the publication of its inaugural 2023 Modern Slavery Report, in compliance with Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act.
The 2023 Sustainability Report demonstrates how Li-Cycle’s ESG principles are integrated throughout its operations and how ESG considerations are integral to the Company’s business, guiding its overall strategy. It was developed in alignment with the updated Sustainability Accounting Standards Board (SASB) Standards for Waste Management: 2023, and in consideration of the United Nations Global Compact (UNGC) Sustainable Development Goals.
The full 2023 Sustainability Report can be found here: 2023-Li-Cycle-Sustainability-Report.pdf
The full 2023 Modern Slavery Report can be found here: Li-Cycle-Modern-Slavery-Report-2023.pdf
Li-Cycle’s 2023 Sustainability Report Highlights:
Strengthened data tracking and reporting capabilities to include enhanced monitoring of ESG metrics, facilitating greater transparency and accountability.
Incurred zero critical safety, environmental and community incidents since the Company’s inception.
Diverted 84% of the materials the Company managed at its operations from landfills.
Produced no Scope 1 emissions as a result of the Company’s recycling processes.
Completed a scenario-based, enterprise-wide climate change risk and opportunity assessment.
Enhanced its robust, integrated, International Organization for Standardization (ISO)-aligned health, safety, environmental, and quality management system across its operations.
Joined the UNGC, the world’s largest voluntary corporate sustainability initiative.
Implemented a Human Rights Policy that formalizes Li-Cycle’s commitment to upholding human rights, protecting workers and communities, and ensuring the Company operates to the highest ethical and safety standards.
Procured all electricity for its Germany Spoke from renewable energy sources.
Implemented over 180 employee-led safety improvements at its North American Spokes, resulting in safer and more productive work environments.
Achieved Board gender diversity target of 30%, reflecting Li-Cycle’s ongoing commitment to building an inclusive and equitable corporate culture.
Expanded its community engagement across the Company’s North American and European operations.
“Sustainability is much more than just an element of our business model – it's ingrained in our DNA and is a fundamental part of our overarching business strategy and purpose,” said Ajay Kochhar, President and CEO of Li-Cycle. “We are pleased to publish both our 2023 Sustainability Report and our 2023 Modern Slavery Report, which demonstrate the dedication and commitment of our global team to these key areas. Our commitment to our core values remains steadfast and our focus has always been on recycling and recovering critical battery materials in a safe, responsible, and environmentally friendly manner. Li-Cycle is uniquely positioned to play a pivotal role in the creation of a more circular and localized battery supply chain that will help drive the global transition to net-zero.”
Moving forward, Li-Cycle will be focused on refining and expanding its existing ESG programs, while continuously improving the Company’s data collection and reporting systems. The Company expects to align with the Taskforce on Climate-Related Financial Disclosures (TCFD) in 2025. Recommendations of the TCFD seek to enhance the amount and quality of the information reported in corporate disclosures on climate change issues.
Modern Slavery Report
Li-Cycle’s inaugural 2023 Modern Slavery Report was prepared pursuant to the requirements of Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act for the financial year ending December 31, 2023, on the steps taken to uphold human rights and prevent exploitation throughout the Company’s business activities in Canada and elsewhere. The 2023 Modern Slavery Report outlines the actions that Li-Cycle has taken to combat forced labour and child labour across its supply chains. The Company recognizes that modern slavery and human trafficking are grave violations of human rights and it is strongly committed to preventing and mitigating potential risks associated with these practices.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle’s mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable and patent-protected Spoke & Hub Technologies™ to recycle all different types of lithium-ion batteries. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel and cobalt. At our future Hubs, or post-processing facilities, we plan to process black mass to produce critical battery-grade materials, including lithium carbonate, for the lithium-ion battery supply chain. For more information, visit https://li-cycle.com/.
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