COMPASS MINERALS 2023 ESG REPORT
Compass Minerals is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for our customers and communities. Through the responsible transformation of Earth’s natural resources, we deliver products that help keep people safe, feed the world and enrich lives. That is our Core Purpose, and we take great pride in fulfilling it.
Fiscal 2023 ESG Report
Our latest report highlights our commitment to addressing and managing the environmental, social and governance (ESG) issues that matter most to our company and stakeholders. The Fiscal 2023 ESG Report details our progress toward our previously announced fiscal 2025 ESG goals and targets. These goals, and the targets that serve as milestones toward achieving them, span the key focus areas of Our Workforce, Our Products, Our Communities and Our Environment. As fiscal 2023 ended, we achieved all six of our fiscal 2023 interim targets, are on track for 11 targets and have focused attention on two targets.
Fiscal 2023 ESG Highlights
Learn more about our company’s programs, initiatives and successes from our efforts this past year by viewing the full report. Fiscal 2023 highlights include:
Leading with safety: Our total recordable injury rate (TRIR) was 1.17, representing an 8% improvement year-over-year and the best in known company history. We continue to focus on the ultimate goal of zero harm, which includes zero injuries and zero environmental incidents. Additionally,100% of our production and packaging sites, along with our company headquarters and innovation center have begun implementation of the SafeStart® program, a behavior-based safety training that will help maintain our focus on safety.
Focusing on diversity, belonging, inclusion and equity (DBIE): Everyone has a voice and every voice matters. We facilitated more than 2,600 hours of DBIE-related training and launched a new employee resource group (ERG), Black Employees and Allies Resource Group, in addition to supporting our existing five ERGs. And we’re proud that our companywide female-to-male pay ratio is 101% and voluntary retention rate for employees is 88%.
Ensuring customer transparency: We want customers to have critical information on Compass Minerals-branded products. Currently, 89% of our branded consumer packaged products have ingredient labeling and 81% have packaging end-of-use instructions.
Engaging suppliers: As a first round of outreach, we distributed our ESG supplier scorecard survey to more than 100 raw material and packaging suppliers, which comprises about 20% of our total addressable supplier spend. The scorecard includes questions regarding pertinent ESG topics such as greenhouse gas (GHG) emissions, waste and freshwater management, human rights, diversity and inclusion, community engagement and ethics.
Enhancing supplier diversity: We proactively seek diverse suppliers and increased our addressable supplier spend with diverse-owned, veteran-owned or small business enterprises by 28% relative to our fiscal 2021 baseline.
Driving positive change in our communities: We donated more than $350,000 through Compass Minerals Cares and 100% of our operating sites were actively engaged in our communities through charitable giving and company‑sponsored volunteer activities. We continued to gather input to help guide our areas of focus through our annual community impact survey distributed to community stakeholders.
Strengthening our commitment to environmental stewardship: Our combined Scopes 1 and 2 GHG emissions declined 5% and freshwater withdrawal declined 33% compared to our fiscal 2021 baseline. To drive progress toward our fiscal 2025 ESG goals and improved sustainability, we conducted a total of 15 on-site energy, water and waste assessments to develop customized opportunity matrices and action plans.
Receiving external recognition: For the third consecutive year, Newsweek recognized Compass Minerals as one of America’s Most Responsible Companies. We were also presented with Award of Safety Excellence by the Utah Manufacturers Association. Our U.K. operations, comprised of our Winsford mine and DeepStore records management business, was certified as a Great Place to Work for the third year in a row. And Compass Minerals was recognized as one of 100 Companies Championing Women in Utah. In addition, Do It Best® named Compass Minerals “Vendor of the Year” for our deicing business.
Our ESG Strategy
We approach our ESG work through a fundamental commitment to four key pillars: safety, growth, transparency and stewardship. Together, these pillars form our sustainability compass, guiding our decisions and business practices across all aspects of our company.
Safety: Striving toward zero harm, our highest priority is ensuring the health and safety of our employees and communities in which we operate.
Growth: We work to enable sustainable, profitable growth by maximizing the value and efficiency of our production assets, investing in our people, driving innovation and exceeding customer expectations.
Transparency: Firmly committed to a culture of trust, transparency and accountability, we seek open and honest communication with our stakeholders, while showing respect for diversity in all its forms.
Stewardship: We honor our responsibility to serve as good stewards of the natural resources we rely on to produce, manufacture and market essential mineral products, minimize the impact we have on our environment, and recognize the markets we serve may be impacted by a changing climate.
Questions and feedback on our ESG strategy and reporting are welcome. Contact us at sustainability@compassminerals.com.