ForFarmers sharpens its sustainability ambitions for a future-proof agricultural sector
Lochem, 26 September 2024
ForFarmers sharpens its sustainability ambitions for a future-proof agricultural sector
ForFarmers is committed to future-proof farming through knowledge, advice, support and products on farm. Sustainability plays an essential role in this and is therefore a fundamental part of its mission 'For the Future of Farming'. In that context, ForFarmers has further sharpened its sustainability ambitions to be able to support farmers and chain partners in the sector’s transition. ForFarmers aims to reduce its own CO2 emissions by one-third by 2030 compared to the year 2022. In addition, ForFarmers aims to increase the use of circular raw materials by one-third and is committed to protecting biodiversity.
One-third reduction of CO2 emissions
ForFarmers aims to reduce CO2 emissions from its own operations by one-third by 2030. This is a step towards its ambition to be net climate neutral by 2050. This will contribute to making the chain more sustainable, in line with the Paris climate agreement.
This will be achieved by reducing emissions in its own operations by lowering its energy consumption, and where possible, make use of renewable energy (scope 1 and 2). In addition, ForFarmers is focusing on making its raw material procurement more sustainable and reducing on-farm emissions (scope 3).
These emission targets are being validated by the Science Based Target initiative (SBTi) so that they are fully in line with the Paris Climate Agreement.
One-third more circular raw materials
Livestock farming is crucial to producing affordable and sustainable food by returning co-products or residual flows from the human food industry back into the food chain as much as possible. By processing these co-products into animal feed, they are converted into high-quality proteins such as milk, meat and eggs. This makes livestock farming an indispensable part of the food chain. ForFarmers aims to increase the share of circular raw materials by one-third, meaning that 65% of the raw materials used will be circular by 2030. The recent acquisition of Van Triest Veevoeders B.V. is an important step in achieving this ambition.
Protecting biodiversity
ForFarmers is committed to protecting biodiversity by aiming to responsibly source 100% of all raw materials by 2030. There is also a focus on advising farmers on sustainable land use and reducing nitrogen emissions.
Pieter Wolleswinkel, CEO ForFarmers: "Working together on affordable and sustainable food is our dot on the horizon. We are convinced that in the future livestock farming will remain an essential part of the food chain by upgrading co-products from the food industry to high-quality proteins such as milk, meat and eggs, with low emissions and a contribution to biodiversity. As an important chain partner, we take our responsibility by contributing to a future-proof agricultural sector. As a company, we are committed every day to achieving these goals as part of our mission: 'For the Future of Farming'."
This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Note to editors / For more information:
ForFarmers, Ilse Niehof-Duivelshof, +31 (0) 573 288800
Profile of ForFarmers
ForFarmers N.V. ('ForFarmers') is a company offering complete feed solutions for (organic) livestock farming. With its mission statement "For the Future of Farming", ForFarmers is committed to future-proof farming and making the agricultural sector even more sustainable. Our goal is clear: to contribute to good returns and a robust long-term earnings model. How? By leading the way with knowledge, advice, support and products on the farm. Close to the farmers, solution-oriented and with an open mind to the future. The result: a contribution to affordable and sustainable food, For the Future of Farming. With sales of around 8.4 million tonnes of animal feed, ForFarmers is a leading player in Europe. The company has production operations in the Netherlands (head office), Germany, Poland and the UK and exports to various countries within and outside Europe. ForFarmers has around 2,600 employees. Its turnover was approximately €3 billion in 2023. ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V., PO Box 91, 7240 AB Lochem, T: +31 (0)573 28 88 00
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FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that relate, among other things, to ForFarmers' regulatory capital and liquidity positions under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as ''intends'', ''expects'', ''takes into account'', ''aims at'', ''has the plan'', ''estimates'' and words of similar purport. These statements concern or may affect future matters, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from the expected future results or performance implicitly or explicitly contained in forward-looking statements. Factors that may cause, or contribute to, differences in current expectations include, but are not limited to: developments in legislation, technology, taxation, case law and regulations, fluctuations in stock prices, legal proceedings, investigations by regulators, competitive conditions, and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of ForFarmers are discussed in the latest published annual report. The forward-looking statements contained in this document relate solely to statements as of the date of this document, and ForFarmers assumes no obligation or responsibility to update the forward-looking statements contained in this announcement, whether in connection with new information, future events or otherwise, unless ForFarmers is required by law to do so.
