Bioceres Crop Solutions Releases Scope 1 & 2 Greenhouse Gas Emissions Report
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Insights
Bioceres Crop Solutions Corp.'s recent disclosure of their global greenhouse gas emissions is a significant step in the company's sustainability journey. By providing a transparent account of their Scope 1 and 2 emissions, they not only comply with growing investor demands for environmental accountability but also align with broader market trends emphasizing corporate responsibility in mitigating climate change. The 33.7% reduction in Scope 2 emissions is particularly noteworthy, as it suggests effective implementation of renewable energy sources and energy-efficient practices. This progress may enhance Bioceres' reputation among environmentally-conscious investors and could potentially lead to cost savings from reduced energy consumption over time. Furthermore, the commitment to transitioning additional facilities to renewable energy indicates a proactive approach to future-proofing the business against rising energy costs and stricter regulations.
The agricultural sector is increasingly scrutinized for its environmental impact and Bioceres' efforts to reduce its carbon footprint could position the company favorably in a competitive market. By adopting zero-emission renewable energy and pursuing net zero-waste certification, Bioceres is not only addressing its direct emissions but also setting a standard for sustainability within the industry. This may improve the company's brand image and appeal to a segment of consumers and partners interested in sustainable agriculture. Additionally, the company's initiatives may attract talent and employees seeking to work for environmentally responsible organizations, potentially leading to a more motivated and productive workforce.
From a financial perspective, Bioceres' investment in energy-efficient utilities, machinery and vehicles, as well as the implementation of monitoring equipment, could lead to significant operational cost reductions. The shift towards renewable energy sources might shield the company from volatile fossil fuel prices, providing more predictable energy costs. While the upfront capital expenditure for these initiatives may be substantial, the long-term savings and potential incentives for renewable energy use could improve the company's financial health. Investors should monitor the company's future capital expenditure and operational efficiency metrics to assess the financial impact of these sustainability measures.
The report takes inventory of the company´s fiscal year 2023 Scope 1 & 2 greenhouse gas emissions across all operations, spanning manufacturing plants, research and development campuses, and administrative offices in
Since the FY21 baseline, the company has undertaken significant initiatives to reduce its global greenhouse gas emissions, primarily via transitioning operations to zero-emission renewable energy sources where available, investing in more energy-efficient utilities, machinery and vehicles—particularly with new construction and during facility upgrades, introducing monitoring equipment and software that provides real-time feedback on resource consumption and utilization, and pursuing net zero-waste certification for its operations.
During FY23, activities within Bioceres resulted in a total of 8,187 metric tons of CO2e, of which
“As an organization, our focus is to reduce emissions in agriculture through the adoption of our products. This starts with the monitoring and minimization of emissions in our own operations. We have taken important steps in the past two years to reduce our own footprint and improve our sustainability and energy efficiency efforts and will continue to do so as we expand our commercial activities globally,” said Federico Trucco, Chief Executive Officer.
About Bioceres Crop Solutions Corp.
Bioceres Crop Solutions Corp. (NASDAQ: BIOX) is a leader in the development and commercialization of productivity solutions designed to regenerate agricultural ecosystems while making crops more resilient to climate change. To do this, Bioceres’ solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The Company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation crop nutrition and protection solutions. Through its HB4 program, the Company is bringing digital solutions to support growers’ decisions and provide end-to-end traceability for production outputs. For more information, visit here.
Forward-looking statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements are based on management’s reasonable current assumptions, expectations, plans and forecasts regarding the Company’s current or future results and future business and economic conditions more generally. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of the Company to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management’s expectations or could affect the Company’s ability to achieve its strategic goals, including the uncertainties relating to the impact of COVID-19 on the Company’s business, operations, liquidity and financial results and the other factors that are described in the sections entitled “Risk Factors” in the Company's Securities and Exchange Commission filings updated from time to time. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. All forward-looking statements contained in this release are qualified in their entirety by this cautionary statement. Forward-looking statements speak only as of the date they are or were made, and the Company does not intend to update or otherwise revise the forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.
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Bioceres Crop Solutions
Paula Savanti
Head of Investor Relations
investorrelations@biocerescrops.com
Source: Bioceres Crop Solutions Corp.
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