Putting secondary materials first
Renewi plc Annual Report and Accounts 2023
We are
Renewi
We are a waste-to-product company and a leader in sustainability, operating at the heart of the circular economy. As pure-play recyclers, our core purpose is to give new life to used materials.
Every day we help our customers progress towards their net-zero emission goals. We do this by creating secondary materials with a lower carbon footprint than the primary resources they replace. We help our customers help the planet.
What we do matters
The world has realised the transition to clean energy alone is not enough to meet the climate challenges we face. Circular economies, through resource preservation and reduced reliance on incineration and landfill, play a vital role in slowing climate change.
Building on a legacy of more than
100 years, the work we do at Renewi brings us one step closer to a cleaner, more sustainable world.
Secondary material Commercial Waste NL, compost made from organic waste material, used to fertilize and enrich soil
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CONTENTS |
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Strategic report |
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Group overview |
6 |
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Our progress this year |
10 |
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Measuring our performance |
12 |
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A message from the Chairman |
14 |
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The world we live in |
16 |
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Why Renewi is well positioned |
20 |
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What we do: converting waste to product |
22 |
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Who we do it for: our customers |
24 |
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Business model |
26 |
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A solid investment in the circular economy |
28 |
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CEO’s strategic review |
30 |
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CFO’s financial review |
36 |
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Value driver: circular innovations |
42 |
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Value driver: Renewi 2.0 |
46 |
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Value driver: M&W recovery |
48 |
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Enable the circular economy |
50 |
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Reduce our carbon emissions |
54 |
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Climate-related Financial Disclosures (TCFD) |
59 |
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Care for people |
66 |
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Operating review |
72 |
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Risk management |
86 |
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Viability statement |
100 |
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S172 summary |
102 |
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Non-financial information statement |
103 |
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Governance report |
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The Board of Directors |
106 |
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The Executive Committee |
108 |
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Governance at a glance |
110 |
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Corporate Governance Report |
112 |
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Safety, Health and Environment Committee Report |
130 |
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Audit Committee Report |
132 |
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Nomination Committee Report |
137 |
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Directors’ Remuneration Report |
140 |
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Other disclosures |
158 |
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Directors’ responsibilities statement |
161 |
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Financial statements |
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Auditor’s Report |
164 |
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Financial statements |
172 |
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Other information |
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Shareholder information |
262 |
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Non-financial statement |
263 |
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Company information |
265 |
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Glossary |
266 |
Secondary material
Maltha, Glass powder made from processed glass, used for a powder in the batch recipe for furnaces
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Renewi plc |
Strategic report |
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Governance report |
Financial statements |
Other information |
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Annual Report and Accounts 2023 |
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Group overview
Renewi operates in the Netherlands, Belgium, United Kingdom, France and Portugal, across three business Divisions, as outlined below.
Financial Shared
Services Centre
Lommel
Our Divisions
COMMERCIAL WASTE
Comprises industrial and commercial waste collection, processing and secondary materials production across the Netherlands and Belgium. Key activities include the processing of mixed waste streams and monostreams into high-quality recyclates and organic waste into biogas.
page 72
MINERALZ & WATER (M&W)
Comprises our Mineralz activities of processing and cleaning contaminated soil and tar and turning it into building products like gravel, sand and filler. It also includes cleaning of bottom ash and fly ash and cleaning of contaminated water and packed chemical waste processing activities.
page 78
SPECIALITIES
Comprises three businesses: Maltha glass recycling, Coolrec – our specialist Waste Electrical and Electronic Equipment (WEEE) recycling business and UK Municipal public-private partnership (PPI) contracts. This Division operates in Belgium, the Netherlands, the UK, France and Portugal.
Renewi in numbers
154
operating sites
6,714
employees at year-end
11mT
of waste handled each year
63.6%
recycling rate for FY23
new reporting methodology
€66.6m
of statutory profit
€132.9m
underlying EBIT
1988
listed on the London Stock Exchange, and Euronext Amsterdam in 2020
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8 |
Renewi plc |
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Annual Report and Accounts 2023 |
Group overview CONTINUED
Our purpose drives our strategy
Our purposeOur vision
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To protect the world by giving new |
To be the leading waste-to-product |
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life to used materials. |
company in Europe’s most advanced |
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circular economies. |
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Strategic report |
9 |
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Governance report |
Financial statements |
Other information |
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Our value drivers |
Sustainability themes |
Our values |
Who we are
Leader in recycling
Leading
waste-to-
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Circular innovations |
Enable the circular economy |
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page 42 |
page 50 |
Safe
Safety above all else
Sustainable
Make a daily difference to our planet
Innovative
Do it better every day
secondary
materials
production
Alignment to UN SDGs
Selectively grow
market share
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M&W recovery |
Reduce our carbon emissions |
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page 48 |
page 54 |
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Renewi 2.0 |
Care for people |
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page 46 |
page 66 |
Accountable
Do what we say we’ll do
Customer-focused
Add value for our customers
Together
Always open and respectful
Disclaimer
Renewi plc published this content on 26 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2023 09:00:23 UTC.
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