New End-to-end Carbon Program Offers Growers
Incentives to Use Climate-Smart Practices within Nutrien’s
Commercial Sustainability Offering
Nutrien Ltd. (TSX and NYSE: NTR) today announced the launch of
the agricultural industry’s most comprehensive carbon program,
providing end-to-end support for growers to drive improved
sustainability and boost profitability. As the world’s largest
provider of crop inputs and services to growers, Nutrien is
uniquely positioned to create the only program at scale. It is
ready to partner directly with growers to plan, plant and track
sustainable farming practices and improve carbon performance.
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Nutrien Launching Industry's Most
Comprehensive Carbon Program to Drive Sustainability in Agriculture
(Graphic: Business Wire)
As part of the new program, Nutrien will provide sustainable
products and solutions, year-round dedicated agronomic counsel and
the industry’s leading digital platform to track and measure
results. Additionally, Nutrien will enable growers to monetize
their improved carbon performance at the farm level by facilitating
the purchase and sale of carbon credits from its grower customers
to value-chain partners.
Working with select growers, Nutrien will design programs that
facilitate climate smart products and sustainable practices to
reduce greenhouse gas (GHG) emissions, sequester carbon, and
measure the resulting improvements in financial, productivity and
environmental performance. Nutrien will pilot the new carbon
program across North America in 2021 and it plans to further scale
the program to South America and Australia in the years ahead.
For more information on the carbon program, visit Nutrien’s
website at www.nutrien.com/carbon-program.
Executive Commentary
Chuck Magro, President and CEO, Nutrien, said, “Nutrien is
working to solve some of the world’s biggest challenges: producing
more food with less land, water and environmental impact. Our new
carbon program will empower growers to produce, preserve and profit
from sustainable practices. With our global reach, direct
relationships with over 500,000 growers, the science-based
expertise of our in-house agronomy team, and investments in
industry-leading technology, Nutrien is uniquely positioned to
create a carbon program with the scale and resources to bring
meaningful and sustainable benefits to growers and the planet they
are working hard to feed.”
“Over time, our vision is to expand the carbon program to
include partnerships across the value chain and into other
industries that have interest in the carbon economy. Addressing
climate change is critically important and we believe the best way
to move forward is to work together; we are open to the full range
of partnership opportunities. Our aim is to create an ecosystem to
help our grower customers benefit from sustainable practices and
enable the purchase and sale of their carbon credits, while
partnering with governments to help meet public environmental
goals.”
“With this new program, we are helping to build an economy and
market around sustainability that we believe is truly the next
major transformation for the agriculture industry and addresses
global issues that affect everyone,” added Magro.
Agricultural Industry Commentary
Jeff Topp, CEO of T-T Ranch near Carrington, North Dakota, said,
“Sustainability can mean different things to different people, but
to us it means leaving the land better than we found it. We are
excited to partner with Nutrien to create a program that’s
practical and can be implemented by other growers on a broad scale
to deliver measurable benefit.”
Matt Coutts, Chief Investment Officer at Coutts Agro Ltd, a
grain farm in Kindersley, Saskatchewan, said, “Coutts Agro is
delighted to partner with Nutrien on their sustainability strategy
and carbon objectives. We are focused on aligning sustainability,
agronomy and profitability to move our company and industry
forward. By directly addressing issues related to climate change,
our industry has an opportunity to improve our carbon footprint and
be rewarded accordingly, building off of performance demonstrated
by leading edge companies who prioritize progressive ESG standards.
We look forward to working with Nutrien to properly define
agriculture’s role in the carbon economy with private market
solutions.”
The Market Opportunity for Carbon
Demand for carbon credits in the voluntary market has more than
doubled since 2017, according to Ecosystem Marketplace’s State of
Voluntary Carbon Markets report. Looking ahead, The Taskforce on
Scaling Voluntary Carbon Markets notes that the global market for
carbon offsets is expected to increase by 40 - 100X by 2050 as the
world increasingly focuses on climate action. Agriculture is
expected to be a leading participant in this growing market.
“Carbon has the potential to become a substantial economy that
will go a long way towards realizing net zero agriculture. Our
program is an important first step towards this journey. Our direct
relationship with our grower customers will help them to be early
movers in this space and see financial value from farming
sustainably,” added Magro.
Nutrien’s Multi-Year Commitment to ESG Initiatives
Nutrien’s new carbon program is part of a broader sustainability
offering designed to benefit growers, governments, and a
cross-section of industries while helping the planet and supporting
sustainable solution for feeding a growing global population. It is
expected to lead to longer-term environmental, social and
governance (ESG) returns for Nutrien and its partners.
Additional information on Nutrien’s current ESG initiatives is
available here.
Nutrien Investor Day Details
Nutrien will provide additional details regarding its planned
carbon program at its Investor Day on November 30, 2020 from 1:00
pm EST to approximately 3:30 pm EST.
To obtain more information on the event, visit Nutrien’s website
at www.nutrien.com.
The presentation materials and a webcast of the formal
presentations will be available on Nutrien’s website live or in
replay mode at Nutrien's 2020 Virtual Investor Day.
Forward Looking Statement
Certain statements and other information included in this news
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws (such statements are
usually accompanied by words such as "anticipate", "expect",
"believe", "may", "will", "should", "estimate", "intend" or other
similar words). All statements in this news release, other than
those relating to historical information or current conditions, are
forward looking statements, including, but not limited to,
statements as to Nutrien’s strategic plans and management’s
expectations with respect to the carbon program and related carbon
market opportunities (including the timing with respect to the
implementation thereof), the development and provision of
sustainable products and solutions, improved GHG, finance,
productivity and environmental performance, and other items
described in this news release. Forward looking statements in this
news release are based on certain key expectations and assumptions
made by Nutrien, many of which are outside of our control. Although
Nutrien believes that the expectations and assumptions on which
such forward looking statements are based are reasonable, undue
reliance should not be placed on the forward-looking statements
because Nutrien can give no assurance that they will prove to be
correct. Forward looking statements are subject to various risks
and uncertainties which could cause actual results and experience
to differ materially from the anticipated results or expectations
expressed in this news release including, but are not limited to,
realization of technological improvements required to implement the
carbon program, including Nutrien’s ability to develop and/or
access such technology; development and growth of end market demand
for sustainable products and solutions; development and execution
of strategies to implement Nutrien’s carbon program; government
regulation, incentives, and initiatives; regulatory approvals;
performance of third parties; and other unforeseen difficulties and
risks. For additional information on the assumptions made, and the
risks and uncertainties that could cause actual results to differ
from the anticipated results, refer to the most recent Quarterly
Report to Shareholders and the 2019 Annual Report filed under
Nutrien’s profile on SEDAR at www.sedar.com and with the U.S.
Securities and Exchange Commission at www.sec.gov.
The forward-looking statements in this news release are made as
of the date hereof and Nutrien disclaims any intention or
obligation to update or revise any forward-looking statements in
this news release as a result of new information or future events,
except as may be required under applicable U.S. federal securities
laws or applicable Canadian securities legislation.
About Nutrien
Nutrien is the world's largest provider of crop inputs and
services, playing a critical role in helping growers increase food
production in a sustainable manner. We produce and distribute 25
million tonnes of potash, nitrogen and phosphate products
world-wide. With this capability and our leading agriculture retail
network, we are well positioned to supply the needs of our
customers. We operate with a long-term view and are committed to
working with our stakeholders as we address our economic,
environmental and social priorities. The scale and diversity of our
integrated portfolio provides a stable earnings base, multiple
avenues for growth and the opportunity to return capital to
shareholders.
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version on businesswire.com: https://www.businesswire.com/news/home/20201130005304/en/
Media Relations Megan Fielding Vice President, Brand
& Culture Communications (403) 797-3015
Megan.fielding@nutrien.com
Investor Relations Richard Downey Vice President,
Investor Relations (403) 225-7357 Investors@nutrien.com
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