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Highlights:
- Waste Connections achieves 40% reduction in emissions intensity since 2019.
- Voluntary employee turnover decreases by 22%, enhancing workforce stability.
- Continued investments in resource recovery and electric vehicle testing for fleet emissions reduction.
Waste Connections, Inc. (TSX/NYSE: WCN) has released its 2024 Sustainability Report, titled “Connecting with the Sustainable Future”. This comprehensive report outlines the company’s ongoing progress toward its ambitious Environmental, Social, and Governance (ESG) targets and sustainability-related objectives. As a leader in the waste management industry, Waste Connections emphasizes that sustainable practices are integral to its business strategy and value creation.
In his statement, Ronald J. Mittelstaedt, President and Chief Executive Officer, remarked, "2023 was another year of progress towards our sustainability-related goals, which we believe are inextricably linked to our focus on value creation in our business." He highlighted a significant achievement: a 40% reduction in emissions intensity over several years, demonstrating that substantial growth and ambitious sustainability targets can coexist.
Mittelstaedt expressed gratitude to the company’s 24,000 employees, whose commitment to core values drives the company’s success. He noted, "I’m particularly pleased by the notable momentum from reductions in voluntary turnover and the related impacts to safety-related metrics, both of which are showing ongoing improvement in 2024."
Key highlights from the 2024 Sustainability Report include the following:
Waste Connections has seen a dramatic decline in voluntary turnover, which fell by 22% in 2023. With continued improvement this year, the company has achieved over a 40% reduction from peak turnover levels in 2022. This enhancement in employee retention is expected to foster a more engaged workforce, ultimately benefiting company culture and performance.
The company has also made significant strides in safety. In 2023, incident rates decreased by 7%, with ongoing trends in 2024 suggesting a total decline of 13% from 2022 levels. Improved safety metrics reflect Waste Connections' commitment to creating a safer work environment, which is essential for employee wellbeing and operational efficiency.
Waste Connections reports a noteworthy reduction of over 40% in Scope 1 and 2 emissions intensity from the 2019 baseline, alongside a 13% decrease in absolute emissions. These reductions underscore the company’s commitment to minimizing its environmental impact and aligning with global sustainability goals.
The report highlights continued progress in recycling, biogas recovery, and beneficial reuse initiatives. Investments in new facilities aimed at enhancing resource recovery have contributed to these advancements, promoting a circular economy.
As part of its sustainability initiatives, Waste Connections has initiated testing of electric vehicles in New York City, marking a step toward reducing fleet emissions. Additional electric units are on order, reflecting the company's commitment to innovative solutions that decrease its carbon footprint.
