DULUTH, Ga.--(BUSINESS WIRE)--AGCO (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, today released its 2022 Sustainability Report. The report showcases AGCO’s progress on environmental, social and governance issues as it strives to deliver farmer-focused solutions to sustainably feed our world.
“AGCO is delivering on its sustainability commitments, from industry-leading innovation to improve sustainability outcomes for farmers, to decarbonizing our products and operations, to offering our talented, diverse employees a safer, more engaging workplace. I am proud of the progress we’re making, and I am committed to accelerating progress as we work together to help farmers sustainably feed our world,” said Eric Hansotia, AGCO Chairman, President and CEO.
Innovating for farmers
Whether it is innovating for farmer customers with intelligent, network-connected tractors that reduce soil compaction by limiting repeated machinery passes in the field, or precision technologies that enable farmers to sequester carbon, AGCO’s global brands help farmers enhance the health and resilience of their soil. In 2022, Precision Planting introduced Radicle Agronomics™, a game-changing set of soil-analysis tools for agronomists, and Radicle Lab™, the world’s first fully automated soil laboratory designed to greatly improve the precision and timeliness of soil sampling.
Key to AGCO’s sustainability commitment is helping farmers grow profitably and sustainably. AGCO’s brands offer groundbreaking products and technologies to sharply reduce or eliminate emissions from farm machinery. The recently launched AGCO Power CORE™ engines reach new heights of efficiency and are compatible with renewable diesel, enabling up to 90% reduction in greenhouse gas emissions. The fully electric Fendt e100 tractor is planned for launch in 2024.
AGCO is also decarbonizing its operations. In 2022, AGCO exceeded Scope 1 and 2 targets three years ahead of schedule by reducing the emissions intensity of manufacturing operations by 31% compared to the 2020 baseline. A detailed assessment of Scope 3 value chain emissions is complete, and product management, engineering and supply chain leaders are working together to define the long-term decarbonization roadmap.
Creating outstanding products and services for farmers starts with creating a work environment where employees can grow and thrive. AGCO actively seeks and responds to employee feedback through its annual ‘Voices’ survey. Nearly 20,000 employees shared their voice in 2002, with 88% sharing they are proud to work for AGCO.
Safety, health, and well-being serve as the foundation of the employee experience. AGCO’s safety incident rate is decreasing year-over-year, with a 14% decrease in 2022. AGCO has set a new goal to achieve a total incident rate below 1.5 by 2025.
Visit AGCO’s 2022 Sustainability Report for more information on these and other key sustainability initiatives.
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 Fendt®, GSI®, Massey Ferguson®, Precision Planting® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services help farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $12.7 billion in 2022. 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.