NETHERLANDS – Nutreco, a global leader in animal nutrition and aquafeed, is revolutionizing its approach to sustainability reporting by launching a new format for its 2023 report.
Instead of a single, comprehensive annual report, Nutreco will now publish sustainability results and case studies more frequently on its website, supplemented by a concise, compliance-focused report later in the year.
This shift aims to align with the upcoming Corporate Sustainability Reporting Directive (CSRD) which will integrate sustainability reporting into financial reporting.
Robert van den Breemer, Nutreco’s sustainability director, explained the rationale behind this new strategy: “Moving more information to the website means that we can publish stories and best practices when they happen, instead of waiting for the publication of an annual sustainability report.”
This approach allows Nutreco to provide timely updates and maintain transparency with stakeholders throughout the year.
Emission reduction initiatives
In the latter half of 2023, Nutreco developed a detailed emissions reduction plan for each business unit, operating company (OpCo), and plant. Based on 2018 levels, the plan targets a 30% reduction in CO2 emissions by 2030.
Despite a 2.5% increase in Scope 1 and 2 emissions in 2023, attributed to decreased energy efficiency and increased production, Nutreco is optimistic about its progress.
Already in the first quarter of 2024, a 3.5% reduction in these emissions has been recorded.
The plan focuses on four main areas:
- Decarbonization: Implementing best practices to reduce energy use and emissions by changing energy sources.
- Energy Efficiency: Enhancing operational efficiency to lower energy consumption.
- Manure Emission Reduction: Supporting biogas projects in Iberia to manage manure emissions effectively.
- Green Electricity Sourcing: Transitioning operations in high-emission countries (Norway, the US, Canada, Vietnam, and China) to green electricity.
To support these initiatives, Nutreco has integrated Scope 1 and 2 emissions into the short-term performance targets for its teams, ensuring accountability and regular progress tracking.
Additionally, Nutreco has established a dedicated Capex fund of €10 million annually for emission reduction projects.
Looking beyond 2024, Nutreco is prioritizing compliance with new regulations, including the EU Deforestation Regulation (EUDR) and the CSRD.
The company is also focusing on reducing Scope 3 emissions and minimizing the value chain’s dependence on fossil fuels, which account for a significant portion of its emissions.
Nutreco has a robust system for measuring and tracking energy usage and emissions. This system includes third-party audits and an operational excellence benefits tracker to monitor local efforts.
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