A major meat processor is looking to a financial incentive to meet its goal of achieving net-zero emissions by 2040.
Pilgrim’s Pride Corporation recently announced that it would offer a $1 billion “sustainability linked bond tied to efforts to reduce greenhouse gas emission intensity across its global operations.” Fabio Sandri, the company’s global CEO, said the bond and the 2040 net-zero goal “reinforce our company’s long-standing commitment to responsible environmental stewardship and sustainable food production.”
According to a release, the bond “provides a direct link to a Sustainability Performance Target (SPT) of achieving a 30% reduction in Scope 1 and 2 greenhouse gas emission intensity across the company’s global operations by 2030, from a 2019 baseline.”
The bond, Sandri added, “firmly ties our financial strategy to our long-term commitment to address climate change, the defining issue of our time.
“We are confident that our unique global production platform, coupled with our diverse portfolio of sustainably-produced foods and our commitment to the fight against climate change, will lead to increased shareholder value and greater standards of living for millions of consumers around the world,” he said.
For more news, go to www.Agri-Pulse.com.