- Bunge’s 2022 Global Sustainability Report highlights success of
program targeted at traceability of indirect suppliers in South
America
- The company launched a financial incentive mechanism, with
commercial benefits for resellers as they make progress toward
their suppliers’ traceability
- Global Sustainability Report demonstrates Bunge’s climate
action plans and science-based emissions reduction targets with
growing need for more sustainable food and fuel systems
globally
Bunge (NYSE:BG) announced today that it has exceeded its
non-deforestation targets for monitoring and traceability of
soybean crops from its indirect supply chain in the Brazilian
Cerrado. Through the Bunge Sustainable Partnership program, the
company is now able to monitor at least 64% of indirect volumes in
the priority regions, surpassing the 50% target set for 2022. In
its Global Sustainability Report, the Company highlights this
success which is an important achievement as company draws closer
to achieving deforestation free supply chains in 2025. The Bunge
Sustainable Partnership Program is one of the many efforts that
allowed Bunge to reach over 95% deforestation free soybean supply
chain in the priority regions of Brazil.
“Our commitment to integrate sustainability into daily decisions
we make as a company requires deep engagement with all our
partners. For Bunge and the entire agriculture and food supply
chains, we believe achieving real progress on non-deforestation
means reaching new heights in the implementation of our approach
and technology. The progress we have made in the past year is a
testament to our collaborative efforts with farmers and customers
and is evidence of the sustained impact we can provide,” said Greg
Heckman, Bunge’s Chief Executive Officer.
The Bunge Sustainable Partnership program, launched in 2021, was
designed to help grain resellers assess suppliers’
social-environmental performance, including farm-scale satellite
monitoring. Bunge was the first company to foster a large-scale
effort in the Cerrado to track indirect purchases by sharing
knowledge, methodologies and tools with resellers. The program is
raising the standards for transparency and traceability for the
indirect soy supply chain.
Bunge also launched a financial incentive mechanism, with
commercial benefits for resellers as they make progress toward
their suppliers’ traceability. The company will also add other
incentives for participating resellers, including increased access
to digital monitoring tools and data.
Bunge’s commitment to be free of deforestation and native
vegetation conversion in its value chains in 2025 is a central part
of the company’s business strategy and planning – and is a crucial
element to its climate and emissions reduction goals. Detailed
progress toward its core deforestation metrics, emissions reduction
targets and other sustainability progress measures were also
released today as part of Bunge’s 2022 Global Sustainability
Report.
“Our business strategy is built around the growing need from our
customers and partners to provide low-carbon solutions for the
world. Bunge remains in a strong position to deliver as a
sustainability leader and global connector for a better tomorrow,”
said Rob Coviello, Bunge’s Chief Sustainability Officer and
Government Affairs.
Additional highlights from Bunge’s 2022 Global Sustainability
Report include:
- Action on Climate: Bunge is reinforcing its commitment
to climate action through the implementation of science-based
targets (SBTs) to reduce greenhouse gas emissions within the
company’s operations and throughout its supply chains.
- Responsible Supply Chains: Bunge is publishing its 2022
Global Non-Deforestation Progress Report, highlighting that it has
achieved 100% traceability data for our direct-to-farm purchases
for priority areas in Brazil, Argentina and Paraguay.
- Accountability: Bunge is continuing to share key
milestones, recognitions and programs with stakeholders regarding
the most relevant commitments and time-bound targets.
To read Bunge’s Global Sustainability Report and detailed
progress toward its non-deforestation commitment, visit
bunge.com/sustainability.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to
consumers to deliver essential food, feed and fuel to the world.
With more than two centuries of experience, unmatched global scale
and deeply rooted relationships, we work to put quality food on the
table, increase sustainability where we operate, strengthen global
food security, and help communities prosper. As the world’s leader
in oilseed processing and a leading producer and supplier of
specialty plant-based oils and fats, we value our partnerships with
farmers to improve the productivity and environmental efficiency of
agriculture across our value chains and to bring quality products
from where they’re grown to where they’re consumed. At the same
time, we collaborate with our customers to create and reimagine the
future of food, developing tailored and innovative solutions to
meet evolving dietary needs and trends in every part of the world.
Our Company is headquartered in St. Louis, Missouri, and we have
almost 23,000 dedicated employees working across approximately 300
facilities located in more than 40 countries.
Website Information
We routinely post important information for investors on our
website, www.bunge.com, in the "Investors" section. We may use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of
our website, in addition to following our press releases, SEC
filings, public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document.
Cautionary Statement Concerning Forward-Looking
Statements
This Bunge press release contains both historical and
forward-looking statements. All statements, other than statements
of historical fact are, or may be deemed to be, forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are not based
on historical facts, but rather reflect our current expectations
and projections about our future results, performance, prospects
and opportunities. We have tried to identify these forward-looking
statements by using words including “may,” “will,” “should,”
“could,” “expect,” “anticipate,” “believe,” “plan,” “intend,”
“estimate,” “continue” and similar expressions. These
forward-looking statements are subject to a number of risks,
uncertainties and other factors that could cause our actual
results, performance, prospects or opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements. The following important factors, among
others, could cause actual results to differ from these
forward-looking statements: the impacts of the COVID-19 pandemic
and other potential pandemic outbreaks; the effect of weather
conditions and the impact of crop and animal disease on our
business; the impact of global and regional economic, agricultural,
financial and commodities market, political, social and health
conditions; changes in governmental policies and laws affecting our
business, including agricultural and trade policies, financial
markets regulation and environmental, tax and biofuels regulation;
the impact of seasonality; the impact of government policies and
regulations; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, divestitures, joint ventures and strategic alliances;
the impact of industry conditions, including fluctuations in
supply, demand and prices for agricultural commodities and other
raw materials and products that we sell and use in our business,
fluctuations in energy and freight costs and competitive
developments in our industries; the effectiveness of our capital
allocation plans, funding needs and financing sources; the
effectiveness of our risk management strategies; operational risks,
including industrial accidents, natural disasters and cybersecurity
incidents; changes in foreign exchange policy or rates; the impact
of our dependence on third parties; our ability to attract and
retain executive management and key personnel; other factors
affecting our business generally; and the risks and uncertainties
described in our Securities and Exchange Commission filings,
including those set forth in the Risk Factors section and under the
heading “Cautionary Statement Regarding Forward Looking Statements”
in our most recently filed Annual Report on Form 10-K. The
forward-looking statements included in this release are made only
as of the date of this release, and except as otherwise required by
federal securities law, we do not have any obligation to publicly
update or revise any forward-looking statements to reflect
subsequent events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20220524006037/en/
Investor Contact: Ruth Ann Wisener Bunge Limited 636-292-3014
Ruthann.wisener@bunge.com
Media Contact: Bunge News Bureau Bunge 636-292-3022
news@bunge.com
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