March 30, 2023
AGCO’s Sustainability Report for 2022 Displays Significant Progress
The 2022 Sustainability Report was just made public by AGCO (NYSE: AGCO), a global manufacturer and distributor of farm machinery, infrastructure, and precision agriculture technology. The study highlights AGCO’s advancements in the areas of governance, social responsibility, and the environment as it works to provide farmer-focused solutions to sustainably feed the world.
In order to better the sustainability outcomes for farmers, AGCO is leading the industry in innovation. We are also decarbonizing our operations and giving our talented and diverse employees a more secure and enjoyable work environment. As we collaborate to support farmers in feeding the world responsibly, I’m pleased of the progress we’ve made and committed to accelerating it, said Eric Hansotia, Chairman, President, and CEO of AGCO.
New ideas for farms
AGCO’s global brands assist farmers in enhancing the health and resilience of their soil, whether it be through the development of intelligent, network-connected tractors for farmer customers that lessen soil compaction by limiting the number of times machinery passes through the field, or precision technologies that allow farmers to sequester carbon. Radicle AgronomicsTM, a revolutionary collection of soil-analysis tools for agronomists, and Radicle LabTM, the first completely automated soil laboratory in the world, were both introduced by Precision Planting in 2022. These innovations are intended to significantly increase the accuracy and timeliness of soil sampling.
Decarbonization
Helping farmers develop profitably and sustainably is essential to AGCO’s commitment to sustainability. The brands of AGCO provide cutting-edge products and technologies to drastically cut or eliminate emissions from agricultural equipment. The newly introduced AGCO Power CORETM engines achieve unprecedented levels of efficiency and are suitable for renewable diesel, allowing up to 90% reduction in greenhouse gas emissions. Launched in 2024, the Fendt e100 tractor will be entirely electronic.
Also reducing its ecological footprint is AGCO. By reducing the emissions intensity of manufacturing operations by 31% from the baseline in 2020, AGCO achieved Scope 1 and 2 goals three years ahead of schedule in 2022. Product management, engineering, and supply chain leaders are working together to define the long-term decarbonization roadmap after a thorough evaluation of Scope 3 value chain emissions has been completed.
Those We Are
Creating a work environment where employees can advance and flourish is the first step in providing farmers with top-notch goods and services. Through its yearly “Voices” survey, AGCO actively seeks out and reacts to employee feedback. In a 2002 survey of almost 20,000 workers, 88% said they were pleased to work for AGCO.
Employee experiences are built on a base of safety, health, and well-being. The percentage of safety incidents at AGCO is falling year over year, with a 14% drop in 2022. By 2025, AGCO now intends to attain a total incident rate below 1.5.
For more details on these and other important sustainability efforts, please visit AGCO’s 2022 Sustainability Report.
Regarding AGCO
Global leader in the development, production, and sale of farming equipment and precision ag technology is AGCO (NYSE:AGCO). Through its diverse brand inventory, which includes well-known names like Fendt®, GSI®, Massey Ferguson®, Precision Planting®, and Valtra®, AGCO provides value to its customers. The entire range of agricultural equipment and services from AGCO helps farmers feed the world sustainably thanks to Fuse® smart farming solutions. The United States-based company AGCO, established in 1990, had total sales of about $12.7 billion in 2022. Please visit www.AGCOcorp.com for more details. Please follow us on Twitter at @AGCOCorp for news, information, and events related to the business. Please use the hashtag #AGCOIR on Twitter to track financial news.
April 19, 2023
