Major step toward climate targets: AGRANA is Austria’s first food producer with validated greenhouse gas reduction targets

EQS-Media / 13.09.2023 / 11:23 CET/CEST

Major step toward climate targets: AGRANA is Austria’s first food producer with validated greenhouse gas reduction targets

AGRANA announces a major success related to sustainability: The globally-renowned non-governmental organisation Science Based Targets Initiative (SBTi) has concluded its audit of AGRANA Group’s ambitious climate goals and officially confirmed that these are in line with the 1.5°C target defined by the Paris Climate Agreement. AGRANA submitted its targets for reducing greenhouse gas emissions for validation purposes in November 2022.

“We are delighted about the recognition of our climate targets and also regard this as an affirmation of our comprehensive climate strategy. This means that we are the first food producer in Austria to have validated emission-reduction targets. On the basis of our science-based targets, we will cut greenhouse gas emissions along the entire value chain (Scope 1+2+3) by more than 30 percent and emissions associated with our own production activities (Scope 1+2) compared to 2019|20 by half by 2030|31. In addition, we will also reduce our production-related emissions to net zero by 2040 and those along the entire value chain to net zero by 2050”, stresses Norbert Harringer, the board member responsible for raw materials, operations and sustainability at AGRANA Beteiligungs-AG.

Besides ongoing efforts to improve energy efficiency and a comprehensive green electricity package at all 55 sites around the world, the climate strategy also includes exploiting the energy contained in protein-depleted residual materials instead of natural gas from 2026|27. The volume of investments in efforts to reduce Scope 1+2 emissions in the period to 2040 will, from today’s perspective, be around € 470 million.

The starting point for defining AGRANA’s climate targets was the calculation of greenhouse gas emissions along the entire value 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, AGRANA is one of the first B2B companies in the sector to accept the international challenge of estimating emissions associated with the growing of agricultural produce despite the incomplete supplier data.

Emissions associated with AGRANA’s business operations amounted to around 5.1 million metric tons of CO2e in the base year 2019|20. Around 80% of AGRANA's greenhouse gas emissions originate from the upstream and downstream value chain, with around 80% of these again attributable to the cultivation of agricultural raw materials. 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.

About SBTi

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature. SBTi unites companies which commit to emission-reducing targets that are consistent with the Paris Climate Agreement. Details can be found under www.sciencebasedtargets.org.

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 € 3.6 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 in addition to 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. AGRANA joined the Science Based Targets Initiative in July 2021.

For queries, please contact:

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

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

This press release is available at https://www.agrana.com/.

End of Media Release

13.09.2023 CET/CEST This Press Release was distributed by EQS Group AG. www.eqs.com

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:

1725311

End of News

EQS Media

1725311 13.09.2023 CET/CEST