Bunge Announces New Agreements to Use Renewable Energy at its Production Plants in the United States

Rhea-AI Summary

Bunge has entered into a 10-year agreement with Direct Energy Renewable Services to supply renewable energy to its Fort Worth, Texas oils packaging facility, offsetting 100% of its power usage with Renewable Energy Credits from Texas wind power. This initiative, effective from August 2021, is part of Bunge's broader commitment to sustainability, aiming to reduce greenhouse gas emissions and enhance its environmental footprint by 2026. The company has already achieved 100% renewable electricity at its Kansas plants and continues to invest in wind and solar energy across its supply chains.

Positive

• Achieved 100% renewable electricity at plants in Atchison and Emporia, Kansas.
• Long-term renewable energy supply agreement with Direct Energy enhances sustainability initiatives.
• Commitment to reduce greenhouse gas emissions aligns with global environmental goals.

Negative

• None.

Bunge announced today a 10-year agreement with Direct Energy Renewable Services to use renewable energy at its Fort Worth, Texas oils packaging facility. This initiative will offset 100% of Bunge’s power usage in that location with an equivalent amount of Renewable Energy Credits (RECs) that are derived from Texas wind power. Beginning in August of 2021, Bunge’s Fort Worth plant energy will be sourced from a local wind farm.

Reducing greenhouse gas emissions through the use of wind, solar and other sources of renewable energy is one of the many ways Bunge is working to build and implement innovative activities and solutions that advance its global goals of reducing water, waste, emissions and energy in target amounts by 2026.

“Our partnership with Direct Energy is a great step towards our focus in finding scalable solutions to fighting climate change. We strive to do the right thing in every decision we make, and in every region where we work. By optimizing our facilities and embracing new technologies and sources of energy, we are confident we will be able to reduce our global environmental footprint and to improve value to our customers,” said Rob Coviello, Bunge’s Chief Sustainability Officer and Government Affairs.

The Company recently made additional strides in its sustainable energy journey by achieving 100% renewable electricity powered by wind at its corn mill in Atchison, Kansas and its soybean processing plant in Emporia, Kansas. In 2019, Bunge signed a long-term contract with Evergy for 8% of their total wind farm in Nemaha County, Kansas. The wind farm became fully operational in November of 2020 and will help to transition about 60 million kilowatt hours of electricity from coal and natural gas to wind each year across the two plants in Kansas. Besides these locations in Kansas, Bunge’s soybean processing plant in Council Bluffs, Iowa, gets over 60% of its electricity from wind power.

When looking to the future, Bunge will continue to invest in and expand the use of wind and solar energy, as well as other sustainable alternatives across its supply chains. To learn more about Bunge’s environmental goals, visit https://www.bunge.com/sustainability.

About Bunge

At Bunge (www.bunge.com) (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 more than 23,000 dedicated employees working across more than 350 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210128005113/en/

FAQ

What is Bunge's new renewable energy agreement about?

Bunge's new agreement with Direct Energy Renewable Services supplies 100% renewable energy to its Fort Worth, Texas facility, using Renewable Energy Credits from local wind power.

When will Bunge's renewable energy initiative at Fort Worth start?

The renewable energy initiative at Bunge's Fort Worth facility will begin in August 2021.

What are Bunge's sustainability goals?

Bunge aims to reduce greenhouse gas emissions and improve its environmental footprint by 2026 as part of its sustainability goals.

How does Bunge utilize renewable energy in its operations?

Bunge has achieved 100% renewable electricity at several facilities and is investing in wind and solar energy to enhance sustainability across its supply chains.

What impact does Bunge's renewable energy use have on its operations?

The use of renewable energy is expected to lower Bunge's greenhouse gas emissions and support its environmental initiatives.