Our Social Impact
Customer Health and Safety; Labeling
Incidents of Non-Compliance Concerning Health and Safety of Products
Neo is committed to ensuring product safety for our customers, including appropriate safety labels for any product hazards. To this end, compliance with UN’s Globally Harmonized System of Classification and Labeling of Chemicals is part of Neo’s corporate audit protocols. To ensure that the standards for the sourcing of renewable raw material, we have established compliance procedures that meet the RoHS and REACH requirements.
Management of Legal and Regulatory Environment
European Union: Within the industry consultation framework of the European Raw Materials Alliance, Neo participated in EU advocacy activities in 2021. Neo’s advocacy was centered around informing the European Commission, the European Parliament and the Government of Estonia of amendments to funding mechanisms of the EU, in order to unlock the business case of large-scale development of rare earth magnet manufacturing in Europe. By extension, this would support the EU’s vision to develop domestic supply chains of critical raw material.