Nutreco, headquartered in Amersfoort, The Netherlands, is unveiling a fresh approach to sustainability reporting, commencing with its 2023 report. Departing from the tradition of publishing one comprehensive Sustainability Report on Earth Day, Nutreco will now provide sustainability updates and case studies more frequently throughout the year on its website. Subsequently, it will release a more concise and compliance-focused report later in the year. This strategy aims to furnish stakeholders with more current, regular and timely insights into Nutreco's progress on its sustainability RoadMap.
Simultaneously, Nutreco is rolling out a new emissions reduction plan across its operations to meet its current Science-Based Targets initiative (SBTi) goal of reducing CO2 emissions by 30% by 2030, relative to a 2018 base year. Despite observing a 2.5% increase in scope 1 and 2 emissions for 2023, the company remains committed to this target. This increase stemmed from a decline in energy efficiency (CO2 per ton produced) and an uptick in sold tons.
Nutreco's emissions reduction plan encompasses four main levers: decarbonization, energy efficiency, manure emission reduction and green electricity sourcing. The company has devised concrete reduction plans for each Business Unit, Operating Company, and plant, with a focus on implementation. Additionally, it has introduced scope 1 and 2 emissions as short-term performance targets for its teams, tracking their progress quarterly.
Furthermore, Nutreco's Management Board has established a Sustainability Capex program, allocating funds solely for emissions reduction. In 2024, the company plans to invest €10 million in this fund, continuing with the same amount annually. Moreover, Nutreco mandates replacing fossil-fueled equipment with electric alternatives whenever feasible, demonstrating its commitment to sustainability.
In pursuit of net-zero emissions, Nutreco conducted an engineering analysis in 2023 to guide the construction of new factories. This analysis serves as the blueprint for all future factory construction endeavors.
Robert van den Breemer, sustainability director at Nutreco, expressed disappointment over the emissions increase in 2023 but remains optimistic about the company's prospects for achieving its targets. Claudio Cervellati, chief supply chain officer, commended the dedication of Nutreco teams in implementing initiatives to reduce emissions and emphasized their role in advancing the company's purpose of "Feeding the Future."
Nutreco's commitment to sustainability and emissions reduction underscores its dedication to environmental stewardship and corporate responsibility.
