Compass Minerals Publishes Sustainability Report
Compass Minerals released its 2014 sustainability report, Taking Care of the Essentials. This is the first time the company has published a report using standards established by the Global Reporting Initiative™ (GRI).
“The release of this report marks a pivotal step toward embracing a comprehensive approach to sustainability,” said Fran Malecha, Compass Minerals president and CEO. “By using the GRI’s G4 Guidelines, we’re solidifying our commitment to building a more sustainable company for the future – a company that truly engages its stakeholders – including employees, customers, communities and shareholders.”
Using 2013 as a baseline, the report focuses on environmental, social and economic impacts and mitigation efforts associated with the company’s global footprint. The sustainability report also features several programs and projects that have been initiated that support key sustainability pillars. Compass Minerals will work to establish specific goals and targets that further the journey toward being a more sustainable, transparent corporate citizen.
Accomplishments highlighted in the 2014 report include:
- An approximate 8% reduction in total water use and water use intensity from 2013.
- Completion of a materiality assessment with stakeholders to identify the significant economic, environmental and social aspects of the business. We were then able to prioritize those aspects for review and potential action in coordination with the company’s business objectives.
- Collaboration efforts in Utah with environmental groups such as FRIENDS of the Great Salt Lake to champion a comprehensive water policy that supports smart growth.
- A continued commitment to the health and safety of our workforce including strengthening of our Getting to Zero workplace safety program and new health and wellness initiatives such as participation in the Global Corporate Challenge.
As further evidence of the company’s success in building a transparent and accountable culture, the company is also pleased to announce its inclusion in Forbes list of one of the 100 Most Trustworthy Companies in America for 2015.
The list was compiled by MSCI ESG Research after screening more than 5,500 publicly-traded North American companies to identify the 100 that most “consistently demonstrated transparent accounting practices and solid corporate governance.
Companies are judged against their Aggressive Accounting and Governance Risk (AGRs) and scored on a 1 to 100 point scale. Factors considered include high risk behaviors like regulatory actions, amended filings, revenue and expense recognition methods and bankruptcy risk. This year, greater emphasis was placed on issues of corporate governance. Compass Minerals is listed in the mid cap group and scored an 80 for its current AGR and an 89 average AGR for the last four quarters.
“Everything we do parallels our Core Values, and fundamental to those values is our commitment to operating with integrity,” said Malecha. “Through the publication of the report and recognition by Forbes, we are able to show our employees, customers, shareholders and communities in which we operate that we will continue to do business with transparency. Our values, our corporate sustainability principles and our strategic vision will guide our path forward.”