Summit Materials Inc. announced the publication of its 2021 Environmental, Social and Governance Report and its inaugural Diversity, Equity and Inclusion Report. These reports provide an update on the company’s progress toward its environmental, social and governance initiatives and outline its updated long-term goals.
CEO of Summit Materials, Anne Noonan, commented, “Our three North Star Pillars of Human/Social Impact, Land Reclamation and Carbon Reduction, and their associated targets, demonstrate Summit’s commitment to becoming the most socially responsible construction materials provider and helping our communities in building a better and more sustainable future.”
“We’ve made important progress this last year,” said Noonan, “and will continue to champion our three pillars across our businesses to contribute to meaningful change in our industry and communities.”
As the world transitions to a lower-carbon future and customers and investors increasingly seek strong financial, operational and ESG performance, Summit’s targets are designed to foster social responsibility, business resiliency, and value creation. The sustainability initiatives align with the company’s three North Star Pillars developed through a strategic assessment as an integral part of its Elevate Summit Strategy.
Human/Social Impact
With a dedicated focus on seeking to ensure employees and their communities are valued and can thrive, the company is focused on increasing safety ownership and employee engagement, reducing employee turnover and increasing diversity throughout its employee base.
FY21 Highlights include:
- In 2021, safety recordable incident rate improved by approximately 9% and our preventable vehicle incident rate improved by approximately 33% over 2020.
- Gender parity achieved at the board and executive officer level.
- Committed to greater transparency and clarity around our Diversity, Equity and Inclusion (DE&I) strategy, detailed in the reports published this month.
- Launched an employee stock purchase plan and companywide engagement survey – a vital process to listen to and understand employees’ needs.
Land Reclamation
Summit Materials is committed to measuring every drop of water the company consumes and returning land better than when Summit found it.
FY21 progress includes:
- Received Wildlife Habitat Council (WHC) Gold Certification for the conservation program at its Davenport Cement plant, which was just named a finalist for the 2022 WHC Wetlands and Water Bodies Project Award.
- On-going installation of automated wash out systems at many of the company’s ready-mix sites to manage water usage.
- Continued use and development of closed loop water systems to reduce freshwater withdrawn.
- Progressing a comprehensive, companywide reclamation policy in consultation with stakeholders, which Summit expects to publish in 2023.
Carbon Reduction
Summit aims to become a leader in the industry by striving to reduce our carbon emissions by 25% in 2030 and reach net zero by 2050.
FY21 highlights include:
- Reporting a 4% reduction in Global Scope 1 emissions relative to the Company’s 2020 baseline.
- Piloting systems that inject recycled CO2 into fresh concrete to reduce its carbon footprint without compromising performance, and planning to install the systems at additional ready-mix locations in 2022.
- Leveraging telematics in all Summit-owned over the road vehicles to track fuel consumption and emissions.
- Launching project to convert generator-powered assets to line power to accelerate a longer-term transition to renewable power.
- Helping develop and then sign the Portland Cement Association’s Roadmap to Carbon Neutrality.
- Completing the conversion of its Davenport plant to Portland Limestone Cement (PLC), which will help reduce carbon emissions in the production of cement.
“We are excited to make quantifiable 2030 and 2050 commitments to address climate change, land and water use as well as diversity, equity, inclusion, and employee engagement goals at Summit Materials,” said Karli Anderson, chief environmental, social, and governance officer and head of investor relations at Summit. “The progress we’ve made moving from assessing our impact, to creating targets and strategies to meet them, serves as a testament to our efforts to help build a more sustainable future. I believe what makes Summit unique is a dedication to social responsibility that permeates our business – from many of our front-line leaders, to our mid-level managers, to our leadership team. This is just the beginning.”
To learn more about the Summit’s ESG success and specific long-term 2030 and 2050 targets, ESG initiatives, visit the Summit Materials Sustainability Page.