The Mosaic Company Announces Net Zero Greenhouse Gas Emissions Targets

Rhea-AI Summary

The Mosaic Company (NYSE:MOS) announced ambitious net-zero greenhouse gas emissions targets, aiming for Florida by 2030 and globally by 2040. This initiative focuses on reducing Scope 1 and Scope 2 emissions, critical for managing climate risks such as carbon pricing and severe weather. In addition to its 2025 ESG goals, Mosaic achieved a 10% reduction in GHG emissions and an 18% reduction in freshwater use since 2020. As global agricultural demand increases, fertilizers remain essential for crop yields without raising emissions. More details are available on their commitment to sustainability.

Positive

• Targets net-zero greenhouse gas emissions in Florida by 2030 and globally by 2040.
• Achieved a 10% reduction in GHG emissions and 18% in freshwater use since 2020.
• Aligns business goals with sustainability, addressing climate risks, and enhancing environmental stewardship.

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• None.

TAMPA, FL / ACCESSWIRE / December 9, 2021 / Today, The Mosaic Company (NYSE:MOS) broadened its commitment to environmental stewardship by announcing targets to achieve net-zero greenhouse gas emissions in Florida, U.S. by 2030 and companywide by 2040. To achieve these targets, Mosaic will emphasize opportunities to reduce Scope 1 and Scope 2 emissions from its operations. The company believes this is a critical step in managing its own most pressing physical and transition climate risks-like the threats of carbon pricing and increasingly severe weather-and as a way to be a good steward of the environment, while contributing to a global sustainable food future.

"Environmental responsibility is a defining issue of our time. Mosaic's net-zero commitment and clear pathway to achieving it demonstrates one of the ways we are doing our part to limit the impacts of climate change and contribute positively to society," said Mosaic President and CEO Joc O'Rourke.

Mosaic's significant landholdings position the company to leverage carbon removal through nature-based solutions. As a result-and factoring in the improvements Mosaic can make to its operations-the company does not intend to pursue carbon offset credits at this time.

These targets are in addition to the wide range of 2025 ESG Performance Targets set last year, including to reduce companywide GHG emissions and freshwater use per unit of production by 20%. In 2020, Mosaic made progress toward both goals, achieving a 10% reduction in GHG emissions and an 18% reduction in freshwater use per unit of production since the baseline was set in 2020.* Though not represented in a formal target, Mosaic is also addressing its Scope 3 emissions by engaging suppliers, partnering in the development of innovative agricultural technologies and investing in a pipeline of solutions that could ultimately reduce emissions at the farm level.

Sustainably growing more food depends on fertilizers, which are responsible for producing up to 60% of all crop yields. By 2050, the global population is expected to reach 9.8 billion people, and experts estimate agricultural productivity must increase to enable farmers to produce enough crops. Fertilizers are critical to doing that without increasing global emissions or contributing to deforestation and poverty.

For more information on Mosaic's pathway to net zero, watch this short video. To better understand Mosaic's approach to acting responsibly and to review the company's commitments to deforestation and climate change, visit mosaicco.com/our-responsibility.

* In 2020, we saw a significant reduction in freshwater use, thanks to efforts across our business to minimize our impact - and, in part, due to the nonlinear and cyclical nature of water use. We expect our performance to increase somewhat next year. We are on track to meet our 2025 targets.

About The Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

The Mosaic Company
www.mosaicco.com

Media Ben Pratt The Mosaic Company 813-775-4206 benjamin.pratt@mosaicco.com

Investors Paul Massoud The Mosaic Company 813-775-4260 investor@mosaicco.com

SOURCE: The Mosaic Company

View source version on accesswire.com:
https://www.accesswire.com/676780/The-Mosaic-Company-Announces-Net-ZeroGreenhouse-Gas-Emissions-Targets

FAQ

What are Mosaic's emissions targets for 2030 and 2040?

Mosaic aims for net-zero greenhouse gas emissions in Florida by 2030 and companywide by 2040.

What reductions has Mosaic achieved in GHG emissions?

Mosaic has achieved a 10% reduction in greenhouse gas emissions since 2020.

How does Mosaic plan to address climate risks?

Mosaic plans to reduce Scope 1 and Scope 2 emissions and enhance its operations to manage climate risks.

What is the significance of fertilizers according to Mosaic's press release?

Fertilizers are vital for producing up to 60% of crop yields essential for feeding the growing global population.

What are Mosaic's 2025 ESG Performance Targets?

Mosaic's 2025 ESG targets include reducing GHG emissions and freshwater use by 20%.