Building on Integrity
Integrity underscores Schnitzer’s commitment to operating from an ethics-based approach, focused on honesty and transparency, responsible leadership, and social responsibility. Our Ethics and Compliance program establishes and maintains the framework for how we treat one another and our stakeholders. By integrating ethically sound behaviors, we build trust and establish an expectation of personal and organizational responsibility.
Ethics & Compliance Program
Schnitzer’s independent Ethics and Compliance function is governed by its charter, through which our Chief Ethics and Compliance Officer follows direct reporting lines to both the CEO and the Board of Directors through its Audit Committee.
Conducting business according to our core values requires a common set of ethical rules, which we present in our Code of Conduct and Supplier Code of Conduct, which communicates ethical guidelines for relationships with those in our supply chain. Schnitzer's Ethics and Compliance Program promotes the Codes of Conduct and fosters an inclusive and equitable environment where employees feel comfortable reporting concerns.
Each year Schnitzer employees participate in formal training on the Company's core values to review key information, including ethical behavior standards, best practices for reporting misconduct, rules against retaliation, the importance of mutual respect and accountability, and our efforts related to diversity, equity, and inclusion.
The Ethics and Compliance Program works to ensure that communications are inclusive and accessible to all by creating training content available in both English and Spanish, written and audio formats, and by distributing emails, posters, and flyers to convey messages clearly.
We empower employees to raise compliance concerns by offering multiple communication channels, including a third-party, confidential, multilingual hotline, through which employees may choose to remain anonymous. Regardless of reporting method, our team ensures all reports are promptly investigated and resolved.
Ethics in Action Award
Schnitzer’s Ethics in Action Award program recognizes employees who consistently demonstrate ethical behavior. Award recipients exhibit a willingness to alert others to a potential hazard or problem and a tendency to go above and beyond normal duties to help customers and colleagues alike.
Employees at all levels may nominate colleagues throughout the year using an online portal. Our Chief Ethics and Compliance Officer recognizes honorees each year—an important opportunity to highlight everyday choices that make a difference.
We scrutinize our operations for corruption risks and constantly upgrade our training and operational programs to address those risks. Our comprehensive Anticorruption Policy prohibits bribery, money laundering, and engaging with terrorists or other sanctioned entities. The policy also prohibits facilitation payments and requires meticulous recordkeeping.
Our policy is underscored by an expansive set of internal controls, training, and third-party monitoring. Our Anticorruption Handbook and other reference guides help employees understand relevant roles, rules, and requirements to ensure accountability. Our International Anticorruption Council, chaired by the Chief Ethics and Compliance Officer and consisting of senior leaders in operations, finance, legal, sales, procurement, IT, and internal audit, monitors the oversight and execution of Schnitzer’s Anticorruption Program.
As a business engaged in commercial transactions throughout the world, we take our responsibilities seriously to respect human rights everywhere we operate. Schnitzer’s Human Rights Policy reinforces our commitment to upholding the internationally recognized human rights standards as set forth in the United Nations’ Universal Declaration of Human Rights and the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work.
Our continued recognition as one of the World’s Most Ethical Companies® is particularly meaningful to all of us at Schnitzer because it reflects our ongoing efforts to improve and sustain performance. It means that our strong ethics and compliance program supports a sustainable culture of integrity and safety, dedication to customers and suppliers, and engagement with our communities.”
– Callie Pappas, Vice President &
Chief Ethics and Compliance Officer
2021 World’s Most Ethical Companies®*
Schnitzer earned the prestigious distinction as one of the Ethisphere® Institute’s 2021 World’s Most Ethical Companies®.
The Ethisphere® Institute’s World’s Most Ethical Companies® distinction recognizes organizations actively driving positive change in the business community through ethical and responsible business practices. Schnitzer has received this honor for each of the last seven years, solidifying our status as part of a distinguished group of companies that drive community improvement, build capable and empowered workforces, and foster corporate cultures focused on ethics and a strong sense of purpose.
Each year we analyze the results of our World’s Most Ethical Companies® report, gaining significant insight into current best practices and leveraging data to plan improvements across the Company.
*“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.
RECOGNITION AS RESPONSIBLE GLOBAL LEADERS
Schnitzer was named the winner of the S&P Global Platts 2021 Global Metals Awards Industry Leadership Award for Scrap & Recycling. The S&P Global Platts Global Metals Awards recognize and celebrate the best of the best in the metals industry. Winners include metal companies from 6 countries, all recognized for individual and company achievements across 15 categories of operational excellence. According to the judging panel, the winners were those who “have thrived and made progress by leaps and bounds with their environmental, social, and governance credentials, while maintaining financial strength.”
Schnitzer was named by Newsweek as one of America’s Most Responsible Companies of 2021. In partnership with the global data research firm Statista, Newsweek developed this list based on their analysis of 2,000 of the largest U.S. publicly traded companies, an independent survey of 6,500 U.S. consumers, and research on publicly available environmental, social, and governance data points.