AGCO Releases 2021 Sustainability Report
Major Step Forward in Sustainability Includes Global Climate Risk Assessment
“In 2020, we established AGCO’s sustainability strategy and have made meaningful progress in 2021 against our goals,” said Eric Hansotia, AGCO’s Chairman, President and CEO. “These early results have confirmed that our commitment to precision agriculture innovation places us on the right path to addressing sustainability.”
The report shares insights into our sustainability transformation as we drive action across our four strategic priorities of advancing soil health and soil carbon sequestration through smart solutions; decarbonizing our operations and products; elevating employee health and safety; and prioritizing animal welfare in food production. It represents a significant step forward in measuring and demonstrating our progress against our goals and commitments set in 2020, including:
· Completing a global climate risk assessment and disclosing against the Task Force on Climate-related Financial Disclosures (TCFD) framework in inaugural TCFD report.
· 13% reduction in GHG emission intensity (scope 1 and 2)
· 52% renewable electricity use, up from 40% and 32% renewable energy use, up from 27%.
“Our 2021 Sustainability Report shows AGCO is committed to accelerating progress in sustainability into our design, manufacturing, and distribution of smart agricultural solutions across the entire value chain,” said Roger Batkin, Senior Vice President, General Counsel, Chief ESG Officer, and Corporate Secretary. “Moreover, we are committed to helping farmers adopt tools and practices that are as good for the planet as they are for their businesses.”
For more information on ACGO’s sustainability approach, please visit https://www.agcocorp.com/commitment/sustainability.html
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services help farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $11.1 billion in 2021. For more information, visit www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
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