Shanks has pledged to achieve a recycling and recovery rate of 85% by 2020.
The company has a set out a five-year corporate responsibility (CR) plan in its annual report with a number of business objectives.
It has revised the targets after achieving those set out in the plan for 2010-15. For example, the company reports that an 80% recycling goal under the previous plan hit 82% in 2015.
The other principal objectives are:
- 25% reduction in health and safety incidents
- improved local community engagement to minimise disruption around company sites
- better engagement with employees
Peter Dilnot, chief executive, right, said: “Sustainability is at the heart of all we do at Shanks, and being a responsible business is integral to our vision to be the most respected waste-to-product company.
“We are delighted that we have achieved our last set of CR objectives, but we are determined to improve our performance further through these new demanding targets.”
The annual report also noted that the first half of the year had been challenging for Shanks due to the eroding price of secondary materials, but it took a more favourable view of future market directions.
“Although we remain cautious in predicting favourable movements in volumes, gate fees and recyclate prices, some of our end markets have stabilised and are showing signs of improvement, consistent with a slow recovery in the eurozone economies in which we operate,” it said.
In May, Shanks released its financial results for the year to March 2015, which showed a 22% decline in pre-tax profits.