ESG Means Insurers Need to Track Recycling Process

Insurers and brokers will soon need to prove their ESG (Environmental, Social and Governance) credentials in detailed annual reports to regulators and shareholders alike. What does that mean for motor claims? Well one factor is the recycling of parts from salvaged or written-off vehicles. Leading car salvage, dismantling and recycling company, SYNETIQ, has proved it is a canny operator when it comes to recycling aluminium from its vehicles.

On average, SYNETIQ extracts more than 5200 tonnes of aluminium during the vehicle recycling process each year, which would be enough to create 346 million drinks cans. Instead of bolstering the beverage business, however, SYNETIQ redistributes the aluminium back into the supply chain as part of its integrated, circular recycling model.

It is all part of SYNETIQ’s initiative called ‘Our Road to Tomorrow’, of which the key aim is to be the most trusted and sustainable business in its sector.

The initiative included a study into the true CO2 footprint of SYNETIQ’s operations and the CO2 savings that can be achieved by using green parts in automotive repairs, while highlighting the environmental benefits of integrated salvage and recycling.

Aluminium is commonly used throughout modern vehicles, including body panels, wiring, wheels, engine and transmission, and must be carefully separated during the recycling process.

“We’ve invested in equipment and procedures to help us extract the maximum amount of reusable material from the vehicles we handle,” says Ray Curry, Operations Director at SYNETIQ. “Aluminium recovery is a key element of this process, as the material is 100% recyclable. That means we create new CO2 savings every time we recycle it.”

Using recycled Aluminium reduces CO2 emissions by 92%, compared to raw material use, and saves 95% of the energy needed for primary production, according to a 2020 report by the European Recycling Industries’ Confederation.

 

About alastair walker 6830 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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