Solid waste sector promotes environmental initiatives
Waste Management Inc. plans to spend hundreds of millions of dollars over the next dozen years to make its solid-waste operations more environmentally friendly.
The country’s largest solid waste company is not alone, however. All the major players in the solid waste sector are looking for ways to make its vast fleet of vehicles more energy efficient and increase the amount of materials recycled, among other efforts.
“We have historically taken innovative steps to protect and enhance the environment. We are going greener,” said Lynn Brown, vice president of corporate communications at the Houston-headquartered solid waste company.
“That’s why we are monitoring for investment in technology that can be economical and commercializable – we want to bring new, innovative technologies to managing waste in the most environmentally efficient and effective manner.
Waste Management plans to direct its capital spending of up to $500 million a year over a 10 year period to environmental initiatives. Among the goals is to increase fleet fuel efficiency by 15 percent and reduce fleet emissions by 15 percent by 2020.
“We expect these investments to add to earnings, margins and to meet our internal rate of return threshold targets, which has generally been 15 percent,” Brown said.