AGCO (NYSE: AGCO), a global leader in agricultural equipment manufacturing, infrastructure, and precision ag technology, has released its 2022 Sustainability Report, highlighting the company’s progress in environmental, social, and governance (ESG) aspects. As AGCO works towards delivering farmer-focused solutions to feed the world sustainably, the report showcases the strides made in various sustainability commitments.
Eric Hansotia, AGCO Chairman, President, and CEO, expressed pride in the progress thus far, reiterating the company’s commitment to accelerating the development of sustainable agricultural solutions. AGCO’s global brands have introduced several innovations for farmers, including intelligent, network-connected tractors that minimize soil compaction and precision technologies that support carbon sequestration, contributing to soil health and resilience.
In 2022, Precision Planting introduced Radicle Agronomics™, a revolutionary suite of soil-analysis tools for agronomists, along with Radicle Lab™, the first fully automated soil laboratory designed to enhance the accuracy and speed of soil sampling.
Decarbonization remains a central aspect of AGCO’s sustainability commitment, focusing on helping farmers grow profitably while reducing their environmental impact. For example, AGCO Power CORE™ engines, compatible with renewable diesel, achieve unprecedented efficiency levels and enable up to a 90% reduction in greenhouse gas emissions. In addition, the fully electric Fendt e100 tractor, slated for launch in 2024, further demonstrates AGCO’s dedication to developing eco-friendly farm machinery.
In addition to its product innovations, AGCO is actively decarbonizing its operations. As a result, the company surpassed its Scope 1 and 2 targets three years ahead of schedule in 2022, reducing emissions intensity from manufacturing operations by 31% compared to the 2020 baseline.
Socially, AGCO is committed to creating a safer and more engaging workplace for its diverse workforce. As a result, the company actively solicits and addresses employee feedback through its annual’ Voices’ survey. As a result, AGCO’s safety incident rate has consistently decreased, with a 14% reduction in 2022.
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