Greenfood reports record decrease in CO2e emissions for 2023

In 2021, Greenfood issued a sustainability-linked bond tied to the goals in Greenfood's sustainability framework. One of the goals is to reduce emissions in its operations (Scope 1 and Scope 2) by 55 percent per ton of food sold by 2025.

As Greenfood releases its annual summary and Q4 report, it is clear that the group reports a significant decrease in greenhouse gas emissions in Scope 1 and 2. For 2023, there has been a reduction of 60.2 percent per ton of food sold from the baseline year 2020.

"The reduction is mainly due to a comprehensive approach to climate and energy issues and investing in heat recovery and renewable energy. Going forward, we expect the reduction to accelerate further with the upcoming installation of solar panels at our 44,000 square meter facility in Helsingborg," says Lisa Isakson, Head of Sustainability at Greenfood.

Another goal of the bond has been achieved earlier. In 2023, Greenfood had its climate targets approved by the Science Based Targets initiative (SBTi). SBTi is a global standard that helps companies set scientifically based climate targets in line with what is required to achieve the Paris Agreement. Greenfood has committed to the most ambitious SBTi target: keep warming below 1.5 degrees.

With these advancements, Greenfood has achieved two out of four sustainability goals linked to its sustainability-linked bond.

Reasons for the record decrease

• Several companies in the group have switched to renewable electricity.
• Greenfood has invested in new cooling systems and improved working methods, leading to energy efficiency.
•  Greenfood has transitioned from natural gas to biogas at the Helsingborg facility.
•  ICE-poweredd company cars are gradually being replaced with electric cars and plug-in hybrids.
   

Next steps to reduce the group's total climate impact (Scope 1, 2, and Scope 3)

• Greenfood is commencing operation of its new solar power plant at Greenhouse, the group's 44,000 square meter facility in Helsingborg.
• Greenfood continues the work with a comprehensive assortment review introducing more climate-smart plant-based products.
• Implement strategies for lower climate impact in the production of purchased products.
• Transition to more environmentally friendly transportation.

How Greenfood reports its climate impact
Greenfood measures its climate impact according to the GHG Protocol guidelines in Scope 1, 2, and 3, and the result is also linked to Greenfood's sustainability-linked bond.

Scope 1 includes direct greenhouse gas emissions from sources owned or controlled by Greenfood. Scope 2 covers indirect greenhouse gas emissions from purchased energy. This includes consumption of purchased electricity, district heating, and district cooling. Scope 3 covers indirect greenhouse gas emissions from our value chain, such as inbound and outbound transportation, production of goods we purchase, business travel, and waste management.

For more information:
Lisa Isakson, Head of Sustainability
Lisa.isakson@greenfood.se
070-241 14 00