Weekly Roundup: Givaudan commits to net-zero carbon by 2050, Bunge and BP plc complete formation of JV in Brazil
06 Dec 2019 --- This week in sustainability news, Givaudan joined the global movement of companies committed to set 1.5°C science-based emissions reduction targets aligned with a net-zero future. Meanwhile, Dairygold Food Ingredients launched Glenor, a new brand which reflects the nutrient-rich pasture lands and traceable ingredients. In business news, Bunge and BP plc completed the formation of BP Bunge Bioenergia, a joint venture (JV) in Brazil. Meanwhile, German chemical company K+S and Pan-African fintech company MFS Africa have invested in Uganda-based Akorion.
In brief: Sustainability
Givaudan has signed the pledge “Business Ambition for 1.5°C” proposed by the United Nations’ (UN) to aim for net-zero value chain emissions by 2050. “The scale of the climate crisis is more visible than ever. Climate change is disrupting people, business operations and economies around the world. We must act now to have any chance of keeping global warming to a maximum of 1.5°C,” says Givaudan CEO Gilles Andrier. The signing of the pledge is a crucial milestone on Givaudan’s path to reaching its ambition of becoming climate-positive before 2050. In September, Givaudan was among the first few companies to align on the 1.5° C trajectory with updated targets to reduce absolute scope 1 and 2 GHG emissions by 70 percent between 2015 and 2030. These targets were approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the most ambitious goal of the Paris Agreement.
Dairygold Food Ingredients has launched a new brand identity for its Business to Business dairy and nutritional ingredients portfolio. The new brand, Glenor, Irish for “Golden Valleys,” reflects the nutrient-rich pasture lands, which are the source of its naturally nourishing and traceable ingredients, the company notes. The Glenor brand will seek to strengthen awareness of Dairygold’s natural grass-fed and sustainable credentials across international markets. Visually, the design of the Glenor brand will closely mirror Dairygold’s corporate brand providing an essential link to Dairygold’s international reputation as a manufacturer of high-quality dairy ingredients.
In brief: Business news
Bunge Limited and BP plc have announced that they have completed the formation of BP Bunge Bioenergia, the Brazilian bioenergy JV that combines their Brazilian bioenergy and sugarcane ethanol businesses. BP Bunge Bioenergia is now the second-largest operator by sufficient crushing capacity in the Brazilian bioethanol market. As part of the transaction, Bunge received cash proceeds of US$775 million, comprising of US$700 million of non-recourse Bunge debt that was assumed by the JV at closing and US$75 million from BP, before customary closing adjustments.
German chemical company K+S and Pan-African fintech company MFS Africa have partnered in a JV to invest in Akorion, an agricultural innovation company based in Uganda. The main goal is to further expand Akorion’s digital platform, EzyAgric, the companies report. This technology gives smallholders in Africa significantly better market access and at the same time, efficient processes throughout the whole value chain for agricultural products. “With this partnership, we have reached another milestone on our way to building a new approach together with our partners to become the leading agricultural platform in sub-Saharan Africa,” says Dr. Burkhard Lohr, CEO of K+S. “We are looking forward to strengthening our business in this emerging agricultural region and to increase crop yields and improving income levels of many smallholders.” In addition to consulting services, K+S is integrating its agricultural application expertise into this network and provides the fertilizers needed for the smallholders via its partner Grainpulse.
In brief: Appointments & retirements
Anne Vlahos has been promoted to Vice President of Sales for Prova in North America, effective immediately. Vlahos’s career before Prova was focused equally on Sales, Business Development and Marketing with industrial leaders, such as Naturex, DSM, Kerry, FMC and more. She has a degree in Nutrition and early career experience in R&D at Unilever. Before joining Prova, Vlahos was an executive consultant providing corporate marketing, sales and technology strategy services internationally to functional and food ingredient clients.
Plant-based British food company The Meatless Farm Co has appointed Jesper Højer as its new chair, one of a series of hires to help grow the meat alternatives business globally. The appointment of Højer comes as The Meatless Farm Co has started strengthening its management team to build the group and brand globally. Lone Thomsen joined as Chief Marketing Officer from Coca-Cola in September, and earlier this month, the company appointed Dr. Peter Hynes, who has a background at Unilever, Smith & Nephew and Taylors of Harrogate.
Royal DSM has announced the upcoming succession of CEO Feike Sijbesma, who will hand over his responsibilities to his Managing Board colleagues Geraldine Matchett and Dimitri de Vreeze as Co-CEO’s in February 2020. Sijbesma will support a smooth transition until May 2020, the company notes.
In brief: Other highlights
Europe’s leading conference on new protein – including cellular and plant-based meats – will double in size when it returns for its second edition early next year. The New Food Conference, to be held in Berlin on April 23-24, 2020, will focus on the latest developments in plant-based protein and cellular-based protein. With 700 tickets now available, the conference promises to be twice as big as its sold-out debut earlier this year. The conference, hosted by ProVeg International, brings together scientists, start-ups, investors, entrepreneurs and companies working in the new-protein sector. They will be presented with the latest cutting-edge cell-based-meat research, best practices and know-how from the plant-based industry, as well as plans for industry growth and investment strategies, insights into retail psychology and consumer acceptance.
By Elizabeth Green
