E nvironment
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Environment E1 Climate change E1, SBM-3 Material impacts, risks, and opportunities We directly witness the consequences of climate change on the fields of our growers, with more frequent droughts and extreme weather events. While fruit and vegetables have on average a low carbon footprint compared to other food categories, our sector is still operating beyond planetary boundaries. Therefore, we strive to reduce our greenhouse gas (GHG) emissions all along the food value chain. Our Double Materiality Assessment (DMA) confirmed our focus on climate change, identifying the following material impacts: Material impact, risk or opportunity
IRO Time horizon
Value chain
Greenhouse gas emissions from our operations: The negative impact on the environment through the GHG emissions from Greenyard’s own operations (Scope 1 and 2).
Negative Short impact to long term
Own operations
Greenhouse gas emissions from our value chain: The negative impact on the environment through Greenyard’s Scope 3 GHG emissions, mainly generated during the cultivation and transportation of Greenyard’s products.
Negative Short impact to long term
Upstream
Climate change transition risk: The transition to a low-carbon economy may entail policy, legal and technological changes which may pose an economic risk to Greenyard.
Risk
Short to long term
Own operations
Climate change impact on our operations: The risk of acute and chronic climate events due to extreme weather events, which can negatively impact the distribution and production capacity on our sites.
Risk
Medium to long term
Own operations
Climate change impact on our supplies: The risk of acute and chronic climate events due to extreme weather events, which can negatively impact crop yields and harvest conditions.
Risk
Medium to long term
Upstream
Low carbon footprint fruit and vegetables: Shifts in demand towards a low-carbon/low-impact diet can result in an increased uptake of pure plant products.
Opportunity
Medium Downstream to long term
E1-1 Transition plan for climate mitigation Greenyard has not yet adopted a formal climate transition plan. However, our sustainability roadmap contains nearterm greenhouse gas reduction targets and an ambition to become carbon neutral by 2050. Our targets have been developed based on the guidance of the Science Based Targets initiative (SBTi) to limit global warming to 1.5°C in line with the Paris Agreement and were validated by SBTi in April 2022. Greenyard is not excluded from EU Paris-aligned Benchmarks.
We are preparing to submit near-term and long-term (net zero) Scope 1, 2 and 3 GHG reduction targets aligned with the updated SBTi requirements by the end of AY 25/26. This update will include both Forest, Land and Agriculture (FLAG) and non-FLAG targets, which will inform us of the necessary reduction needed from our agriculture-based and industrial emissions respectively. A formal climate transition plan will be adopted as part of this exercise.