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Neo Performance Materials joins the U.N. Global Compact

August 16, 2021   Maryam Farag

Neo Performance Materials Inc. announced that it has become a participant in the United Nations Global Compact, and has committed to implementing the Global Compact’s 10 Principles on human rights, labour, environment and anti-corruption.

“As a company Neo is committed to making the UN Global Compact and its principles part of the strategy, culture, and day-to-day operations of our company, and to engaging in collaborative projects that advance the broader development goals of the United Nations, particularly the Sustainable Development Goals,” said Constantine Karayannopoulos, CEO, Neo Performance Materials. “We support public accountability and transparency, and therefore we commit to reporting on progress within one year of joining the UN Global Compact, and annually thereafter according to the UN Global Compact COP policy.”

According to Neo, the company works to manufacture its products using sustainable practices, such as recycling and feedstock recovery, which helps to reduce environmental impacts throughout its supply chains. For example:

  • Neo recycles scrap and by-product waste streams in Europe and North America to produce gallium, indium, rhenium, niobium, and tantalum.
  • Neo recycles neodymium-praseodymium for use in rare earth magnetic powders and magnets.
  • Many of Neo’s facilities employ closed loop recycling systems.
  • Neo’s subsidiary, NPM Silmet, has undergone a conflict minerals due diligence assessment, as certified by the Responsible Business Alliance, in compliance with the Responsible Minerals Assurance Process Standards for Tantalum.
  • Neo’s newest U.S.-to-Europe supply chain will produce rare earth feedstock from natural monazite sands that are a by-product of other mining.

 

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