Waste Management, Inc. - ESG Overview Report, 2021

Environmental, Social, and Governance (ESG) in Waste Management, Inc.

Waste Management, Inc. is a waste management, comprehensive waste, and environmental services company operating in North America.

The company has been focusing on sustainability due to effective due diligence and better investment decision for the company as well as relevant stakeholders. The company has various products and services including Trash collection and recycling for home, waste disposal, and recycling for business, among others. These services and products focus on different sustainability strategies as their main operation is intended to reduce waste, decrease emissions, and use more recycled materials. The company’s key focus areas include its sustainability program partner, the development of a modern landfill, incorporating renewable energy in its operations, the developing of a recycling infrastructure, and promoting integrated organics and circular logistics. The company has also given importance to health and safety, Diversity, Equity, And Inclusion (DEI), and various community engagement programs to deliver a positive social impact.

ESG Trends

The company has various ESG strategies with around $1.625B in planned investments carried out to promote sustainability for the next four years (2021-2025) to grow its recycling and renewable energy businesses. Waste Management, Inc. aims to positively impact 10 million people in communities through targeted social impact programs by 2030, using the equivalent of 2% of our net income each year. They are reorienting the focus of our social impact program around sustainability education, environmental conservation, environmental justice, community vitality, supplier diversity, and skills and workforce development. They plan to double their annual social impact investments over the coming years to reach more people and create greater change.

The company has been raising the bar on safety where it has reduced the Total Recordable Incident Rate (TRIR) by 3% annually and targets zero incidents by 2030 with a focus on preventing serious injuries. The rate of injuries per employee hours worked has continued to fall for almost 20 years, with Waste Management, Inc. consistently outperforming its competitors. They continue to ensure initiatives are taken to prevent injuries and have an illness management program alongside other initiatives. In 2021, women represented 18% of the workforce at the firm and 41% of the workforce were from different ethnicities. 

Future of ESG in Waste Management Inc

In 2021, Waste Management, Inc.’s revenue was around USD18 billion. The company envisions various aspects including sustainability as one of the main agenda, with promising innovation and product development side supporting sustainability.