Neo’s 2022 Sustainability Report marks the second year of our thorough reporting on sustainability matters of paramount importance to our stakeholders and business, employing the Environmental, Social, and Governance (ESG) framework. This report expands on the foundation laid in our 2021 inaugural report by extending the scope of material topics, incorporating input from stakeholders and internal sources, and applying a more refined sustainability governance structure, grounded in the ESG framework.
Sustainability Vision
Neo envisions a world where key industrial and mobility sectors are substantially decarbonized. Our innovative R&D has been instrumental in devising technologies that enhance energy efficiency, curb fossil fuel consumption, and preserve air and water quality. Neo prioritizes the acceleration of climate-friendly product adoption, responsible supply chains, and exemplary material science practices. Ongoing improvement processes will set a new benchmark for the critical materials industry, and this report signifies Neo’s unwavering dedication to this endeavor.
Sustainable Products
Neo offers high-performance materials comprising rare earths and metals that facilitate the shift towards a sustainable future, harmonizing environmental conservation, social progress, and economic growth. These materials enable renewable energy, efficient transportation, waste reduction, and freshwater preservation. Advanced materials are crucial for developing sustainable solutions that minimize environmental impacts and foster a circular economy. Neo is devoted to championing sustainability and enhancing operational sustainability to lessen its environmental footprint.
ESG Framework
Neo acknowledges the significance of Environmental, Social, and Governance (ESG) factors in realizing sustainable and responsible business practices. Consequently, Neo employs the ESG framework to identify and classify material topics. This framework allows Neo to prioritize and concentrate on areas where we can make the most substantial impact and align our business strategies with broader societal and environmental objectives. In the 2022 Sustainability Report, Neo showcases the most material topics based on the ESG framework. The topics are presented in the sequence of E, S, and G. This methodology enables us to transparently and comprehensively convey our sustainability performance, emphasizing the areas where we are making strides and those where improvement is needed. By utilizing this framework, we can ensure that our sustainability initiatives align with our stakeholders’ expectations and the wider goals of sustainable development.