Article by: Hari Yellina
Over the last 12 months, global machinery producer and distributor Agco has made significant progress toward its environmental objectives, including a 13% reduction in greenhouse gas emission intensity. In its 2021 Sustainability Report, released last month, the corporation detailed how it was progressing with its sustainability goals. Eric Hansotia, chairman, president, and CEO of Agco, stated the firm made significant progress toward its objectives in 2021. Mr Hansotia stated, “These early results have demonstrated that our devotion to precision agriculture innovation puts us on the correct track to addressing sustainability.” Agco is advancing sustainability in the company and in the agricultural equipment market, according to the report, by acting across all of its brands and regional activities.
It’s also “increasing the number of sensors and data interconnectivity in our products to assist in the creation of farming management networks.” During the past year, the organisation has achieved several significant milestones, including a 52 percent increase in renewable electricity utilisation from 40 percent. Its renewable energy use increased to 32 percent, up from 27 percent, and 12 of its sites now use 100 percent renewable energy. Agco completed a worldwide climate risk assessment in 2021, utilising the Task Force on Climate-related Financial Disclosures recommendations as a framework for analysing and reporting climate-related risks and opportunities. “As a result, Agco released its first TCFD Report, and we plan to build on it in the coming years as our response to climate change grows,” the report said.
“We’re incorporating the TCFD framework into our sustainability programme, which includes benchmarking, climate scenario research, and resilience and management readiness. We can better prepare for both the physical and transition implications of climate change by implementing the TCFD recommendations. We expect climate-related physical hazards affecting our consumers to have the largest potential impacts on our future business, according to the results of the climate scenario analysis,” says the company.