EQS-Media / 28.11.2022 / 11:05 CET/CEST

AGRANA defines its own science-based climate targets

Sustainability Management Board member Norbert Harringer: “Science-based
targets as the key to decisively promoting decarbonisation”

 

AGRANA Beteiligungs-AG has submitted its targets for reducing greenhouse
gas emissions to the NGO Science Based Targets Initiative for verification
purposes. The aim here is to determine whether the Group’s objectives to
reduce emissions by 2030 are aligned with those of the Paris Climate
Agreement. AGRANA joined the Science Based Targets Initiative (SBTi) in
July 2021. The SBTi unites companies which commit to emission-reducing
targets that are consistent with the Paris Climate Agreement.

“These science-based targets are our commitment to further
decarbonisation. Our firm intention is to reduce greenhouse gas emissions
by more than 30 percent along our entire value-added chain (Scope 1 + 2 +
3) and to cut emissions from our own production activities (Scope 1 + 2)
by more than half. By 2040, we will reduce our own emissions to a net zero
and, by no later than 2050, we are committed to net zero emissions along
our entire value-added chain,” emphasises AGRANA Board Member Norbert
Harringer.

Due to its proximity to the source of agricultural products,
sustainability has always formed an integral element of AGRANA’s corporate
philosophy. Previously an issue addressed by the entire Management Board,
sustainability has now been defined as a separate area of responsibility
at the management board level due to the rising environmental challenges
AGRANA faces. Besides sustainability, Harringer is also responsible for
the areas of production, investments, raw material procurement, quality
management and R&D.

In order to define its climate targets, AGRANA has now for the first time
calculated greenhouse gas emissions along the entire value-added chains
(Scope 1 + 2 + 3) of each of its three business segments (Fruit, Starch
and Sugar) given its role as an energy-intensive processor of agricultural
raw materials. The major challenge which AGRANA has set itself as one of
the first in the industry is estimating emissions from farming the
agricultural products its processes due to the lack of supplier data. Its
2019|20 financial year was defined as the baseline for calculations. In
total, AGRANA’s business activities accounted for around 5.1 million
tonnes of CO[2e ]over this period. The majority of this (around 80 %)
originates from the upstream value-added chain (Scope 3) or, more
precisely, from the growing of agricultural raw materials (again around 80
%). In order to reduce these emissions, AGRANA will be focussing on land
use for agricultural production and on the impacts of agricultural growing
methods. The aim is to collaborate with AGRANA’s suppliers and
agricultural partners to develop and implement specific climate-related
reduction targets by 2030.

In addition, and in its role as a processor of agricultural raw materials,
AGRANA is already working intensively on implementing its plan to
completely switch to renewable sources of energy for production purposes.
Besides regular energy efficiency steps, key actions here will be a
comprehensive green electricity package and, from 2025, the thermal
utilisation of low-protein raw material waste instead of natural gas. The
volume of investments in efforts to reduce Scope 1 + 2 emissions in the
period to 2040 will be around 400 million Euro.

 

About AGRANA

AGRANA converts agricultural raw materials into high-quality foods and
numerous industrial intermediate products. Around 9,000 employees at 55
production facilities worldwide generate annual Group revenue of
approximately € 2.9 billion. The Group was founded in 1988, is the global
leader in fruit preparations and also a major producer of fruit juice
concentrates in Europe as well as being a key manufacturer of customised
potato, corn and wheat starch products as well as organic ethanol in its
Starch segment. AGRANA is one of the leading sugar companies in Central
and Eastern Europe.

For queries, please contact:

Markus Simak
Public Relations
+43 1 21137 12084
[1]markus.simak@agrana.com

Hannes Haider
Investor Relations
+43 1 21137 12905
[2]hannes.haider@agrana.com

 

This press release is available at [3] https://www.agrana.com/en/.

 

End of Media Release

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Issuer: AGRANA Beteiligungs-Aktiengesellschaft
Key word(s): Environment

28.11.2022 CET/CEST This Press Release was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: AGRANA Beteiligungs-Aktiengesellschaft
F.-W.-Raiffeisen-Platz 1
A-1020 Wien
Austria
Phone: +43-1-21137-0
Fax: +43-1-21137-12926
E-mail: investor.relations@agrana.com
Internet: www.agrana.com
ISIN: AT000AGRANA3
WKN: A2NB37
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
(Official Market)
EQS News ID: 1499003

 
End of News EQS Media

1499003  28.11.2022 CET/CEST

References

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1. markus.simak@agrana.com
2. hannes.haider@agrana.com
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