Nexans and Codelco join forces for a more sustainable and traceable copper market
Paris La Défense, January 24, 2018 – 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. Recognizing the vital role that copper will play in a sustainable future, Nexans, as a world leader in 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, 2018, 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. “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. And then 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.
This joint initiative with Codelco reinforces Nexans’ 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 monetize and dispose of their leftover copper and aluminum 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.
Nexans brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans’ teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers). Nexans’ strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes.
In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide.
Nexans is an active member of Europacable, the European Association of Wire & Cable Manufacturers, and a signatory of the Europacable Industry Charter. The Charter expresses its members' commitment to the principles and objectives of developing ethical, sustainable and high-quality cables.
Nexans, acting for the energy transition, has an industrial presence in 40 countries, commercial activities worldwide, is employing close to 26,000 people and generating sales in 2016 of 5.8 billion euros. Nexans is listed on Euronext Paris, compartment A.
For more information, please consult: www.nexans.com
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