Sims Municipal Recycling is a division of an Australian based parent company, Sims Metal Management. It officially commenced operation in 2013 with a $110 million material recycling plant in Brooklyn as a joint venture between Sims municipal recycling and New York City department of sanitation serving as the principal processing facility for the recycling of metals, glass, paper and plastics.
The facility has the capacity to process 1000 tons of recycled materials a day, which are shipped to markets around the world.
The coordination of sustainable and carbon footprints reduction elements, processes and technologies to support core business development and delivery of its products and services while optimizing environmental performance has been the central idea in its business model.
Some of the sustainable and environmental footprints reduction strategies utilized by the company that should be emulated are as follows:
- Its buildings are made of 99% recycled American made steel and recycled glass.
- Creation of new marine habitat.
- On-site storm water management.
- 600kW solar power installation and a 100kW wind turbine (renewable energy generation).
- Utilizing barges and freight rails for transportation thus decreasing traffic congestion, fuel consumption and vehicles emissions.
As a result of its business model, 30% of the city’s waste has been diverted from various landfills. The recycling facility has also created 80 to 85 permanent jobs with the prospect of growth.
It was very engaging to see a sustainable business model with a closed loop approach to responsible reuse and recycling of non-biodegradable waste. I learnt from the trip that their approach has been able to minimize greenhouse gases,freight costs and simplify logistics and ensure environmentally responsible handling and disposition of all electronic equipment.
This is a business model that has provided financial stability for the company involved, I am wondering why we don’t have more companies like this in the city which will agglomerate carbon foot print reduction because factually they cannot handle the waste produced by about 18 million inhabitants in the metro area.
One of the reasons elucidated by William Emmons for economic stagnation in comparison to post war economy is stagnant incomes. He has observed that there has been an upward trend with inflation with a disproportionate stagnant trend in incomes and as a result of this situation less wages means less savings and investments leading to decrease in productivity thus lowering the standards of living.
My view on the neoclassical perspective as presented by the author is that people have rational preferences and they are associated with values, individual goals in the markets are maximum profits and that of firms are maximum profits and people act based on information.
The Neo-Keynesian theory assumes imperfect competition in the market and thus exist inequitable distribution of wealth and income and its concepts promotes subsidies for the development and use of clean energy