Our greenhouse gas
emissions for the year to
30 June 2019 were 17,224 tCO2e
We have committed
to reducing emissions
intensity by 30% by 2030
In last year’s Annual Report, we articulated our commitment to integrating sustainability into everything we do.
Building enduring capability in this area will be increasingly important to farmer-growers as they navigate climate change and the transition to low emission, more sustainable farming practices.
We recognise that an important part of being a sustainable organisation is understanding and communicating how (or the process by which) we create enduring value and the resources that we use aside from traditional financial and physical capital to do so. Our business model, and how that generates value, is outlined here.
While our sustainability journey is independent of our transition to integrated reporting, strengthening this area of our business will allow us to create more value for our shareholders over time.
Our journey towards sustainability will involve engaging with major stakeholders to understand what matters most to them and from there where we can have the most impact. However, completing this before our Annual Report was unfortunately disrupted, as we were forced to prioritise our response to COVID-19 and focus our resources on ensuring our continued ability to support our shareholders.
A wide range of social, environmental and economic risks affect our business. With New Zealanders placing an increasingly higher value on transparency and protecting the environment, Farmlands has sought to prioritise sustainability and, as part of this, adopt an integrated thinking approach to formulating strategy. This will be presented through integrated reporting.
To that end, we have taken active steps to identify the resources and relationships we rely on and use to create value – our capitals. At this early stage of our integrated reporting journey, we seek to understand more specifically – and measure – our environmental impact, including developing targets that will enable us to contribute positively to climate change.
We are excited to have achieved Carbonreduce certification from Toitū Envirocare, which validates our greenhouse gas emissions and internal initiatives. Supporting and integrating this into our strategic thinking forms part of our framework to reduce our emissions intensity.
Understanding the views of our major stakeholder groups remains a critical plank of our approach to integrated thinking, strategy, and how we will create value in the future.
A stakeholder engagement process is a prioritised next-step initiative, which will seek their input into our current practices and impacts. This will guide us on how we can track, measure and report on these matters.
Progress made this year
Initiated a sustainability champions programme for employees
Our focus for the next year
Initiate engagement process with stakeholders, including shareholders, employees, suppliers and partners
Perform our materiality assessment and identify material topics of particular importance to enable us to focus our value creation towards the areas where we can make the most impact
Establish performance measures and targets for each of the key material topics and develop processes for monitoring and reporting against these targets
Our strategies to reduce emissions
Reduce waste and energy at retail outlets
Reduce air travel
Reduce fuel consumption
Investigate opportunities to use solar power
Roll out LED lighting systems at 15 sites
Drive freight efficiency to reduce emissions intensity