Key Takeaways
- AFYREN releases its first sustainability report, inspired by the CSRD directive.
- The report aligns with Environmental, Social, and Governance Reporting Standards (ESRS).
- AFYREN’s strategy focuses on three pillars: Products & Innovation, Operations & Governance, and Coworkers & Stakeholders.
- The company aims for 100% bio-based, low-carbon acid production and emphasizes circular, zero-waste processes.
- AFYREN has achieved a “Platinum” level in EthiFinance extra-financial rating, demonstrating its commitment to sustainability.
AFYREN Unveils First Sustainability Report, Emphasizing Commitment to Environmental and Social Responsibility
AFYREN released its inaugural sustainability report. The document, available on the company’s website, demonstrates AFYREN’s commitment to transparency and sustainable practices.
Inspired by the CSRD Directive
While not currently subject to the European CSRD directive, AFYREN has voluntarily aligned its sustainability report with Environmental, Social, and Governance Reporting Standards (ESRS). This move underscores the company’s dedication to environmental and social responsibility. CEO Nicolas Sordet remarked, “At AFYREN, we see sustainability as an essential pillar of our business model. By communicating transparently and consistently about the impact of our activity on the environment, AFYREN intends to strengthen the confidence of its stakeholders and renew its ambition to create new virtuous value chains for society and the environment.”
Strategy for Positive Impact
AFYREN’s strategy is structured around three core pillars:
Products & Innovation: The company has set ambitious targets for 2023, with 100% of its solutions offering a sustainability advantage. AFYREN focuses on eco-design, using bio-based raw materials that do not compete with food crops. The company’s products offer a low-carbon alternative to fossil resources, with a carbon footprint reduced by five times. AFYREN integrates CSR criteria into project management to maintain performance and meet customer expectations. Medium-term goals include producing 70,000 tons of bio-based, low-carbon acids annually.
Operations & Governance: AFYREN aims to pursue industrial development while maintaining a low carbon footprint, aligning with the “NetZero” trajectory. The company’s processes are entirely circular, producing zero industrial waste. AFYREN continues to test new bio-based substrates and plans to establish three production units. The goal is to save around 130,000 tons of CO2 annually across its value chain.
Coworkers & Stakeholders: AFYREN prioritizes relationships with coworkers and stakeholders, ensuring a safe and motivating work environment. The company has seen rapid growth, expanding its workforce fivefold in three years. Its HR policy emphasizes close dialogue and attracting top talent. AFYREN has a significant representation of women in management and diverse profiles across sectors. The company is committed to developing the bioeconomy sector, with 75 skilled industrial jobs created in Carling Saint-Avold and plans for several hundred more.
Achievements and Future Goals
AFYREN’s commitment to operational excellence and CSR integration has earned it a “Platinum” rating from EthiFinance, scoring 83/100 in 2023. This reflects steady improvement over the past four years. The sustainability report details AFYREN’s vision, commitments, and results, serving as a transparency tool and facilitating dialogue with stakeholders.
Caroline Petigny, CSR and Communications Director, stated, “We believe that the reporting efforts induced by the CSRD directive will help to establish virtuous standards for players in the European economy. Sustainability reports will help to raise companies’ ambitions in terms of ESG reporting, as they introduce standards that are comparable and applicable to all players.”
AFYREN Latest News
On June 6, 2024, AFYREN provided an update on its AFYREN NEOXY plant, confirming its target to start continuous production in 2024. CEO Nicolas Sordet expressed confidence in their ability to meet this goal. AFYREN has made significant progress in its production process, successfully producing several tons of acid and is now undergoing the final purification stage.
On the 12th of April, AFYREN, a Paris-listed greentech company, announced the first commercial shipments of a new kind of fertilizer produced by its AFYREN NEOXY plant. This marks a significant milestone in the company’s use of unique fermentation technology to offer natural, low-carbon ingredients. The fertilizer is a co-product of the plant’s process that converts local non-food biomass from agricultural by-products into biobased organic acids.
The NEOXY plant’s production process is innovative and environmentally beneficial, using natural micro-organisms that are GMO-free and rich in potassium. This makes the fertilizer suitable for high-value crops like grapes, fruit trees, and vegetables. Nicolas Sordet, CEO of AFYREN, emphasized the regional, sustainable, and organic nature of the product at launch, highlighting its benefits for France’s re-industrialization and food sustainability.
The localized production reduces logistical issues and decreases dependency on volatile energy prices, making the company’s fertilizer attractive to farmers looking for reliable, sustainable inputs. Furthermore, the sustainable fertilizer aligns with the principles of regenerative agriculture, aiming to improve soil health and enhance carbon sequestration.
Image provided by AFYREN
