Scrap content among LMEpassport factors

The London Metal Exchange (LME) has announced several changes pertaining to its sustainability commitments and the sustainability expectations of its clients.

Of foremost interest to scrap recyclers, the “responsible sourcing” information displayed in its LMEpassport network will include data from aluminum alloy makers tied to recycled content. LME says responsible sourcing survey responses showed that more than 80 percent of the LME’s aluminum alloys brands, and nearly half its lead brands, “source from 100 percent scrap materials, rather than primary inputs,” according to the exchange.

“With disclosures now in their hundreds, we are starting to see our commitment to transparency and comparability in sustainability data develop in a meaningful way,” LME Chief Executive Matthew Chamberlain says. “It is especially encouraging to see the results of the first responsible sourcing reporting, which is testament to the huge effort made by our producer-community to introduce enhanced compliance and accountability processes to metal supply chains.”

“We are fully committed to playing our part in the global efforts to deliver on the Paris Agreement goals, and today we are delighted to be setting a hard target for LME net-zero of 2040," LME Chief Sustainability Officer Georgina Hallett says.

In addition to work with the International Aluminium Institute on emissions methodology, the LME says it has likewise adopted a methodology for nickel (provided by the Nickel Institute) and zinc (provided by the International Zinc Association).