Schnitzer Steel Industries (SCHN) Recycles Steel, Reduces Ocean Pollution, Partners in Waste-to-Energy EnterpriseNovember 12, 2012
Steel-recycling innovator Schnitzer Steel Industries (SCHN) is one of Jackson W. Robinson’s key holdings in his green investment portfolio. In his strategy, Robinson, Partner and Portfolio Manager at Brown Advisory Incorporated, focuses on companies reducing risks, lowering costs and enhancing revenue growth, he says.
“Schnitzer Steel [has] formed a partnership with fishermen to recycle their unusable heavy equipment, primarily nets. All these nets have steel railed to them for strength and weight. These have historically been abandoned by the fishing industry either on the ocean floor or sometimes they get to landfills,” Robinson said.
Robinson says 90% of the steel that is used is recycled steel, which is important because it reduces production costs and decreases emissions from the production process. He also says SCHN has partnered with Covanta (CVA) to recycle steel from heavy fishing nets, producing energy and reducing ocean-bottom pollution.
“Schnitzer is working with them to extract the metals from this waste stream and recycle the metals into new products, and the vertical part, lot of it is mesh, is going to Covanta and being used to create electricity. This is one example of how creative companies are recycling waste streams to reuse things in a more efficient way,” Robison said.