Recognizing the vital role that copper will play in a sustainable future, Nexans, a leader in advanced cabling and connectivity solutions, is joining forces with Codelco, the world’s largest copper producer, to help create a more traceable and transparent copper market.
The two companies recently signed a Memorandum of Understanding (MOU), which 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 for 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 toward 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, the companies said, 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.