FMC Corporation releases 2023 sustainability report, publishes first Climate Transition Plan

Rhea-AI Summary

FMC , a global agricultural sciences leader, released its 2023 sustainability report, 'From the Ground Up,' on May 23, 2024. The report emphasizes FMC's advancements in environmental goals, sustainable product innovation, and community engagement. Key highlights include the first publication of FMC's Climate Transition Plan, aiming for net-zero greenhouse gas emissions by 2035. Significant 2023 achievements include a reduction of absolute Scopes 1 and 2 emissions by 18% and Scope 3 emissions by 27%, and increasing global waste to beneficial reuse to 75%. The report also underscores the importance of climate resilience, water use efficiency, and biodiversity protection in its crop protection solutions.

Positive

• FMC decreased Scopes 1 and 2 emissions by 18% in 2023.
• The company reduced Scope 3 emissions by 27% in 2023.
• Waste to beneficial reuse increased to 75% globally.
• FMC aims for net-zero greenhouse gas emissions by 2035.
• The Climate Transition Plan outlines specific strategies to reduce emissions.
• FMC's diverse crop protection solutions support sustainable farming.
• The report shows FMC's commitment to innovation in sustainability.

Negative

• No specific financial performance data provided.
• Ambitious net-zero goal by 2035 could pose significant implementation challenges.
• Potential regulatory and consumer pressures may increase costs.

The 13^th annual report highlights company's leadership in innovation, safety and sustainability

PHILADELPHIA, May 23, 2024 /PRNewswire/ --

FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, today released its 2023 sustainability report, From the Ground Up. The 13^th annual report highlights the company's progress on its environmental goals, sustainable product innovation and community and stakeholder engagement. It is also the first publication of FMC's Climate Transition Plan, which details the company's steps to achieve net-zero greenhouse gas (GHG) emissions by 2035.

"Sustainability and innovation are essential to growing our business and meeting the evolving needs of farmers and our industry," said Julie DiNatale, vice president and chief sustainability officer. "This year's report highlights FMC's dedication to building upon the strong foundation established over the last decade and advancing sustainability across the organization."         

In its Climate Transition Plan, FMC describes its strategy to reduce emissions and address climate-related risks and opportunities across its value chain. Key elements of the plan include FMC's net-zero roadmap, which identifies early actions and key levers for emissions reductions, and an overview of the company's Scope 3 emissions and supplier engagement strategy. In 2023, the company reduced absolute Scopes 1 and 2 emissions by 18% and reduced absolute Scope 3 emissions by 27%. Additionally, FMC has made significant strides in waste circularity, increasing waste to beneficial reuse to 75% globally. The company's sites continuously seek opportunities to drive efficiencies and turn waste materials into valuable commodities.

FMC highlights its diverse portfolio of modern crop protection solutions and how it supports sustainable farming around the world. In addition to integrating sustainability and stewardship criteria throughout its product development processes, the company continuously evaluates how its products promote key areas of sustainability on the farm, including climate resilience, water use efficiency, biodiversity protection, soil and plant health, and compatibility with regenerative agriculture practices.

"FMC is constantly innovating to help farmers solve increasing challenges brought by a changing climate, regulatory pressures and consumer demands," continued DiNatale. "As we develop new products, we are focused on providing farmers with a variety of tools that can be applied in a range of farming systems to improve productivity, efficiency and sustainability."  

Additional information about FMC's sustainability progress and goals, including an online copy of the 2023 report, is available at fmc.com/sustainability.

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,200 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  This release contains statements that are "forward-looking" and provide other than historical information.  FMC has identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "targets" "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases.  Such forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2023 Form 10-K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.

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SOURCE FMC Corporation

FAQ

What are FMC's sustainability achievements in 2023?

FMC reduced Scopes 1 and 2 emissions by 18%, Scope 3 emissions by 27%, and increased global waste to beneficial reuse to 75%.

What is FMC's Climate Transition Plan?

FMC's Climate Transition Plan aims for net-zero greenhouse gas emissions by 2035, detailing strategies to reduce emissions and address climate-related risks.

How does FMC support sustainable farming?

FMC supports sustainable farming through diverse crop protection solutions that promote climate resilience, water use efficiency, biodiversity protection, and regenerative agriculture practices.

When was FMC's 2023 sustainability report released?

FMC released its 2023 sustainability report on May 23, 2024.

What are the key highlights of FMC's 2023 sustainability report?

Key highlights include reductions in Scopes 1, 2, and 3 emissions, increased waste reuse, and the publication of FMC's Climate Transition Plan aiming for net-zero emissions by 2035.