Fresh Del Monte Publishes 2023 Sustainability Report, Achieving Scope 1 and 2 Emission Reduction Goal Seven Years Early

Rhea-AI Summary

Fresh Del Monte Produce Inc. (NYSE: FDP) has released its 2023 Sustainability Report, showcasing significant progress in environmental and social goals. Key achievements include:

1. Climate: Achieved a 28% reduction in Scope 1 and 2 emissions, surpassing its SBTi target seven years early. Exceeded goal of reducing Scope 1 CO2 emissions from vessel shipping by 19%.

2. Biodiversity: Completed ecosystem mapping in Guatemala and Costa Rica. Planted 2,487,847 trees since 2016, reaching 99.5% of its 2.5 million tree goal.

3. Diversity: 69% of U.S. employees are from diverse backgrounds.

4. Packaging: Introduced reusable plastic containers for banana shipments, saving 758 tons of single-use paper and 5 tons of plastic.

The company continues to lead in regenerative agriculture, biodiversity conservation, and waste revalorization, including partnerships for bioactive compound research and biofertilizer production.

The report highlights major sustainability milestones, including an early achievement of SBTi-approved targets for Scope 1 and 2 greenhouse gas reductions

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), a leading global producer, marketer, and distributor of fresh and fresh-cut fruits and vegetables, has released its 2023 Sustainability Report, highlighting key progress toward a more sustainable future. As the first global marketer of fruits and vegetables to commit to the Science Based Targets initiative (SBTi), Fresh Del Monte is pleased to announce it achieved its SBTi-approved Scope 1 and 2 greenhouse gas (GHG) reduction goal well before the 2030 target.

(Photo: Business Wire)

“I am proud of our team for leading by example—large-scale farmers like us need to start showing scalable transformations,” said Hans Sauter, Chief Sustainability Officer, Senior Vice President, R&D and Agricultural Services at Fresh Del Monte. “Addressing a warming climate is no longer optional, but an urgent task. Fresh Del Monte remains dedicated to its mission of taking proactive action and working towards a Brighter World Tomorrow®. Sustainability only continues to gain traction throughout our company, and I am thrilled to see both our progress and the work that lies ahead of us.”

The 2023 Sustainability Report outlines Fresh Del Monte’s progress towards its long-term environmental and social goals. Key achievements for the year include:

• Climate: Fresh Del Monte achieved a 28% reduction in Scope 1 and 2 emissions, surpassing its SBTi target by 2023, well ahead of its 2030 goal timeline. The company set goals to reduce Scope 1 and 2 emissions by 27.5%, using a 2019 baseline, and Scope 3 emissions by 12.3%, based on a 2020 baseline, by 2030. These targets are aligned with the Paris Agreement to limit global warming to well below 2°C. Fresh Del Monte also exceeded its goal of reducing Scope 1 CO₂ emissions from vessel shipping by 10% by 2025, reaching a 19% reduction in 2024.
• Biodiversity: Completion of ecosystem mapping in Guatemala and Costa Rica, with plans to expand to other farms in 2024. Additionally, the company has planted 2,487,847 trees since 2016, reaching 99.5% of its goal to plant 2.5 million trees by 2025.
• Diversity: 69% of U.S. employees are from diverse backgrounds, underscoring the company's commitment to inclusion.
• Health and Community: Fresh Del Monte delivered healthy, nutritious produce to millions while providing health services to hundreds of local workers and communities in growing regions.
• Packaging: Introduction of reusable plastic containers (RPCs) for banana shipments in North America, obviating the use of 758 tons of single-use paper and more than 5 tons of plastic.

In addition to these achievements, Fresh Del Monte continues to lead with innovative practices in regenerative agriculture, biodiversity conservation, and waste revalorization. As part of its commitment to extract more value from its biomass and reduce waste, the company extended its partnership with the University of Granada to explore bioactive compounds from fruit residues, contributing to advancements in health and well-being. Earlier this year, the company also inaugurated a biofertilizer plant in Kenya, in partnership with Vellsam Materias Bioactivas, using pineapple residues to produce biofertilizers. These efforts reflect Fresh Del Monte’s broader vision of harnessing nature’s power to promote sustainable farming and create a more harmonious relationship between people, products, and the environment.

“With the release of our 2023 Sustainability Report, we are reminded of the immense responsibility we carry as stewards of the environment,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and Chief Executive Officer. “As an agricultural leader, we recognize our profound influence on shaping our planet’s future. By embracing our role and working in harmony with nature, we believe we can unlock its full potential, laying the groundwork for a sustainable future that benefits all. This is the focus of our efforts—innovating with purpose, collaborating with partners, and creating a lasting legacy of sustainability that will protect and preserve our natural world for generations to come.”

As an industry leader, Fresh Del Monte is well-prepared for upcoming stronger regulatory disclosures and remains at the forefront of sustainable practices. With a firm focus on reducing environmental impact and enhancing community well-being, the company is committed to inspiring others to follow suit.

The full sustainability report, including an executive summary, can be found at https://freshdelmonte.com/sustainability-reports/.

ABOUT FRESH DEL MONTE
Fresh Del Monte Produce Inc. is one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods Corporation II Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN™ brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. In 2022, 2023, and 2024 Fresh Del Monte Produce was ranked as one of “America’s Most Trusted Companies” by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. Additionally, Newsweek recognized Fresh Del Monte Produce as one of the “World’s Most Trustworthy Companies” in 2024, spotlighting the brand’s success in building investor, consumer, and employee trust on a global scale. Fresh Del Monte Produce was also named a Humankind 100 Company by Humankind Investments in 2024, 2023 and 2022, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241015215627/en/

Media:

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Vice President, Global Head of Corporate Communications

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Source: Fresh Del Monte Produce Inc.

FAQ

What sustainability goals did Fresh Del Monte (FDP) achieve in 2023?

Fresh Del Monte achieved a 28% reduction in Scope 1 and 2 emissions, surpassing its SBTi target seven years early. They also exceeded their goal of reducing Scope 1 CO2 emissions from vessel shipping by 19%, planted 2,487,847 trees since 2016, and introduced reusable plastic containers for banana shipments, saving 758 tons of single-use paper and 5 tons of plastic.

How many trees has Fresh Del Monte (FDP) planted since 2016?

Fresh Del Monte has planted 2,487,847 trees since 2016, reaching 99.5% of its goal to plant 2.5 million trees by 2025.

What percentage of Fresh Del Monte's (FDP) U.S. employees are from diverse backgrounds?

69% of Fresh Del Monte's U.S. employees are from diverse backgrounds, underscoring the company's commitment to inclusion.

What innovative practices is Fresh Del Monte (FDP) implementing for sustainability?

Fresh Del Monte is implementing innovative practices in regenerative agriculture, biodiversity conservation, and waste revalorization. They've partnered with the University of Granada to explore bioactive compounds from fruit residues and inaugurated a biofertilizer plant in Kenya using pineapple residues.

How has Fresh Del Monte (FDP) reduced its packaging waste?

Fresh Del Monte introduced reusable plastic containers (RPCs) for banana shipments in North America, eliminating the use of 758 tons of single-use paper and more than 5 tons of plastic.