PRESS RELEASE: Today, copper is at the core of a series of initiatives that are driving the world's sustainable growth. In addition to being a key component in many electrical applications including turbines, renewable power generators, inverters and transformers, copper remains the critical raw material for efficient and reliable cable technologies essential for the future development of low carbon energy resources. Recognising the vital role that copper will play in a sustainable future, Nexans, as a global provider of advanced cabling and connectivity solutions, is joining forces with Codelco, a major world producer of copper, to help create a more traceable and transparent copper market.
The new Memorandum of Understanding (MoU), signed on January 12, is intended to foster the existing commercial relationship between Nexans and Codelco. The main aim is to develop and implement environmental, community-friendly and ethical processes in the copper industry, promoting sustainable practices. A key element is the joint commitment to environmental and social responsibility standards along with the creation of mechanisms for reliable performance assessment.
"Both Nexans and Codelco are directly and strongly linked within the copper value chain and understand how critical it is for the future of all industry sectors to ensure sustainable and responsible supply chains, said Pascal Portevin, senior corporate executive vice president, international and operations at Nexans. "This approach will enable us to address the concerns of our end-users regarding the sourcing of copper and align our efforts to work towards a market where products are classified and valued not only according to their cost but also on their environmental and social impact."
Among the key aims of the project are to evaluate mechanisms to trace Codelco's sustainable production from the company's mines to Nexans and to the market. Next, it aims to develop a plan to produce sustainable cables and cable systems at Nexans' plants with the intention of having a fully traceable final product. A major milestone in 2018 will be the delivery of the first ‘carbon neutral' shipment of copper cathodes from Codelco to Nexans.
Nexans stated that this joint initiative with Codelco reinforces the company's ongoing commitment to corporate social responsibility (CSR) and sustainable development. This includes the recent launch of a cable recycling service that allows Nexans' customers and partners to monetise and dispose of their leftover copper and aluminium cables while contributing to the circular economy. Nexans is also an active member of the Copper Alliance, an international network of industry associations and manufacturers working together to defend and grow markets for copper based on its superior technical performance and contributions to a higher quality of life.