Pyxus Subsidiary Receives Golden Leaf Award for 'Best ESG Programme'

Rhea-AI Impact

(No impact)

Rhea-AI Sentiment

(Neutral)

Tags

11/10/2022 - 09:36 AM

MORRISVILLE, N.C., Nov. 10, 2022 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX), a global value-added agricultural company, announced today that its subsidiary, Pyxus Agriculture Malawi (PAM), received the Golden Leaf Award in the "Best ESG Programme" category for its efforts to promote responsible fuel production in Malawi. The award was presented to the Company during the 2022 Global Tobacco & Nicotine Forum in Washington, D.C.

"It is an honor to receive a Golden Leaf Award for our ESG efforts to promote responsible fuel production in Malawi," said Pyxus President and CEO Pieter Sikkel. "This project is one of many examples of how our Company is identifying creative solutions to help minimize negative environmental impacts in the communities in which we operate."

Currently, less than 10 percent of Malawi's rapidly growing population has access to electricity and only three percent of the population uses electricity for cooking and heating. Consequently, the majority of Malawians burn wood as a fuel source. As the country transitions away from burning unsustainable wood, charcoal is becoming the most accessible energy source in many urban and semi-urban communities. This has resulted in an exponential growth of the charcoal market.

"Unfortunately, current systems used to produce the biomass fuel are difficult to regulate and are unsustainable, posing a significant threat to woodlands in the region," said PAM's Managing Director Ron Ngwira. "Pyxus Agriculture Malawi has taken action to address this threat by utilizing pre-existing business structures to produce charcoal that is manufactured in a responsible manner."

The Company is producing charcoal with residual wood from its pre-existing forest plantations, utilizing the Company's pre-existing facility and proprietary track-and-trace platform, SENTRI®, which positions PAM to trace the fuel back to the source. This provides assurance that any lumber used in its manufacturing process is sustainably sourced and can be replenished by the Company.

PAM's responsible production of fuel promotes the conservation of indigenous forests and woodlands. The project contributes to the United Nations Sustainable Development Goal No. 15, which focuses on improving life on land, and benefits the Company's contracted farmers and the communities in which they live. Additionally, the project supports the Company's overarching goal to transition its supply chain in Malawi to 100 percent use of sustainable wood for fuel by 2026 and its ESG target to achieve zero net global deforestation in its agricultural supply chain by 2030.

By 2024, PAM aims to scale its charcoal production to a level that will help save approximately 12,100 trees or more each year from use in the unregulated production of charcoal.

About Pyxus International, Inc.

Pyxus International, Inc. is a global agricultural company with nearly 150 years of experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable, and traceable products and ingredients. For more information, visit www.pyxus.com