Agco reduces its greenhouse gas emission intensity by 13 per cent

The company outlined how it was progressing with its sustainability strategy in its 2021 Sustainability Report released last month.

Sustainability strategy: Agco released its 2021 Sustainability Report in March.

Global machinery manufacturer and distributor Agco has made sizable inroads toward its sustainability goals, including a 13 per cent reduction in greenhouse gas emission intensity, over the past 12 months.

The company outlined how it was progressing with its sustainability strategy in its 2021 Sustainability Report released last month.

Agco chairman, president and CEO Eric Hansotia said the company had made meaningful progress in 2021 against its goals.

"These early results have confirmed that our commitment to precision agriculture innovation places us on the right path to addressing sustainability," Mr Hansotia said.

According to the report, Agco is taking action across all its brands and regional operations to advance sustainability in the company and in the farm equipment industry.

"Sustainability shouldn't be a burden on farmers, but an enabler," the report states.

"We're committed to helping farmers adopt tolls and practices that are as good for the planet as they are for their businesses."

Agco's machinery brands include Challenger, Fendt, Massey Ferguson and Valtra.

Its sustainability priorities include finding ways to advance soil health and soil carbon sequestration through smart farming solutions; decarbonising operations and products; elevating employee health and safety; and prioritising animal welfare in food production.

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Agco reported it was making progress in its development of low- and zero-emission tractors.

Headlining this is the development of the Fendt e100 all-electric tractor, which is in the advanced pilot stage and targeted for commercial launch before 2025.

It is also "adding more sensors and data interconnectivity to our products, to help create farming management networks".

The company reached a number of important goals throughout the 12 months, including reaching 52 per cent renewable electricity use, up from 40pc.

Its renewable energy use lifted to 32pc, up from 27pc, and 12 of its sites are now using 100pc renewable electricity.

In 2021 Agco conducted a global climate risk assessment, including using the recommendations from the Task Force on Climate-related Financial Disclosures as a framework for analysing and reporting on climate-related risks and opportunities.

"As a result, Agco issued its first TCFD Report, and we intend to build on it in future years in parallel with our growing response to climate change," the report states.

"We are incorporating the TCFD framework into our sustainability program, and these efforts have already included benchmarking, climate scenario analysis, and resilience and management preparedness.

"By addressing the TCFD recommendations, we are increasing our preparedness for both the potential physical and transition impacts associated with climate change.

"The results of the climate scenario analysis indicated that we anticipate climate-related physical risks affecting our customers to drive the greatest potential impacts to our future business."

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