AGCO Releases 2020 Sustainability Report

Company Prioritizes Soil Health, Decarbonization, Employee Safety and Animal Welfare

News provided by AGCO Corporation
Mar 25, 2021 15:40 KST

DULUTH, GA.--(Business Wire / Korea Newswire) March 25, 2021 -- AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, Monday released its 2020 Sustainability Report https://ar2020.agcocorp.com/sustainability/. Included in the report is a range of goals and commitments, such as its target to reduce greenhouse gas emissions across its manufacturing operations by 20 percent by the end of 2026.

The Sustainability Report, the first published by AGCO since 2014, follows AGCO`s announcement in October 2020 of a global sustainability function and comes on the heels of its new farmer-first strategy, which was unveiled earlier this month and includes sustainability as a key component.

“AGCO’s new vision and purpose reinforce our commitment to rapid innovation and the evolution of precision agriculture solutions to help farmers produce more with less environmental impact,” said Eric Hansotia, AGCO’s Chairman, President and CEO. “The agriculture industry has the opportunity—and responsibility—to think big and act bigger. Our new sustainability strategy will be the launch pad for focused creativity and innovation in the years to come.”

AGCO is focusing its sustainability efforts in four key areas:

· Soil health and soil-carbon sequestration, with a pledge to develop new sensors and other technologies to improve soil health
· Decarbonization of facilities and products, such as attaining 60 percent use of renewable energy in internal operations by 2026 and delivering a fully electric Fendt tractor by 2025
· Employee health, safety and well-being, including a commitment to improve its recordable injury rate year on year
· Animal welfare, which includes the formation of an advisory group of animal welfare experts to help guide the company’s efforts.

“AGCO has made significant progress in designing innovative products, creating operational efficiencies, and providing agronomic expertise to farmers,” said Louisa Parker-Smith, AGCO’s Director of Global Sustainability. “With our new, focused approach, we are committed to building on these strengths to create even more value for farmers while committing to help and protect our environment.”

For more information on ACGO’s sustainability initiatives, please visit https://ar2020.agcocorp.com/sustainability/.

About AGCO

AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $9.1 billion in 2020. For more information, visit www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
 
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Cristiane Masina
Global Corporate Communications Manager

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