Our Social Impact

Local Community Engagement

At the end of the year, as a substitute to holiday gift baskets, Neo’s Corporate unit made donations on behalf of employees to the SickKids Foundation’s Get Better Gifts Program and to the Daily Bread Food Bank.

In 2021, Neo sponsored the Athens University of Fine Arts’ Manifesto Project, which funded up to 6 scholarships for arts students to develop paintings or installations relating to the challenges that workers faced during the COVID-19 pandemic outbreak.

Neo’s Corporate and Peterborough plant teams supports the University of Toronto’s Department of Chemical Engineering and Applied Chemistry, by sponsoring some of its flagship events for its student and alumni, by supporting capital upgrade fundraising projects, by sharing industry perspective on perspective projects relating to critical raw materials, and by delivering guest lectures. Within this, Neo is part of the University of Toronto’s ILEAD Community of Practice program, through which it shares data on engineering leadership skills and meets with students who seek advice on their research or their professional development. Additionally, Neo introduced a Summer Internship Program for Canadian engineering students, giving them the opportunity to focus over 3 months in either R&D or ESG Reporting projects. This has proven a great success for early talent development for Neo’s engineering team.

At our sales office in Korea, there is regular engagement with the local fire station and municipal authority, from which they also receive and distribute community updates (e.g., COVID case count). Since 2019, Neo Magnequench proudly sponsored the local German basketball team Brose Bamberg.

Tax Governance and Stakeholder Engagement

In 2021 alone, Neo contributed approximately $10 million of taxes to the local communities it operates, supporting their economic development with both job creation and also its capital towards the tax base.