Technically, yes. However, unlike paper or aluminum recycling programs, which generate “recycled” paper or aluminum to be used again – greatly reducing impact on the environment – the materials recovered from recycled batteries cannot be re-used to make new batteries.
In addition, numerous studies by third-party and government agencies have shown that the environmental benefits of keeping the batteries out of landfills would be exceeded by the environmental costs associated with the energy used to collect, transport, recover and reconstitute the salvageable material for aftermarket use.
Finally, because even drained batteries contain residual amounts of energy, the collection of large quantities of loose, unpackaged batteries of varying sizes and chemistries can pose a potential fire hazard, due to the possibility of short circuiting and heat generation.