Moody's improves FS' ESG rating score
The rating agency maintains robust to advanced performance for almost 80% of the criteria analyzed
SÃO PAULO, May 23, 2022 /PRNewswire/ -- FS, the first ethanol producer to exclusively use corn as a raw material in Brazil, has its ESG rating score raised from 58 to 62 in Moody's sustainability rating .
Out of 80% of the items analyzed, the company achieved robust and advanced performance with emphasis on its degree of commitment reflected in what the document calls "continuous implementation as the driving force behind the company's performance".
FS has been issuing decarbonization credits (CBIO's) since 2020 and has as its vision to be the largest carbon negative liquid fuel producer by 2024, was highly evaluated in Environmental terms.
According to Moody's rating, FS has improved governance policies compared to recent years and now discloses its GHG emissions linked to energy consumption while showing a positive trend (-11%). There was also an improvement in the trend of water consumption.
Daniel Lopes, Vice President of New Business and Sustainability at FS, says "We are proud to continue evolving in our ESG standards. This international recognition means a lot to us, as we are now in the top 3% tier of Moody's ESG rating", he says.
In the social field, the classification advanced, jumping from 67 to 71 points, due to significant means that were adopted to promote local, social and economic development of the communities where FS operates.
The document also emphasizes greater visibility, in addition to broader commitments on the following topics: career management, fundamental labor rights, work standards in the supply chain, corruption and lobbying.
According to the report, there were improvements in the areas of human resources, the environment, business behavior, community involvement and corporate governance.
Recently, the Stichting and Green Fund ("&Green") entered into a partnership with FS, with the goal of strengthening the deforestation-free corn supply chain in the State of Mato Grosso, driving the transformation of land use practices in the region. The fund made a contribution of US$30 million to increase the sustainable production of biofuel, electricity, animal feed and corn oil.
About FS
FS is the first ethanol industry in Brazil that uses corn in 100% of its production. Today, with two units, one in Lucas do Rio Verde and another in Sorriso, Mato Grosso, the company has the capacity to produce around 1.5 billion liters of ethanol per year. In addition, it also has state-of-the-art technology for the manufacture of products for animal nutrition, known by the acronym DDG (Dried Distillers Grains), corn oil and bioelectricity. Recently, the company announced the construction of its third unit, located in Primavera do Leste (MT), with an estimated investment of BRL 2.3 billion, which will increase its total capacity to 2 billion liters of ethanol/year.
FS prioritizes and constantly invests in sustainability and with the objective of consolidating the sustainable development agenda and strengthening its long-term commitments to society, it started to adopt a set of actions that it established in six long-term commitments (until 2023), created in line with the United Nations (UN) Sustainable Development Goals (SDGs) and the Paris Agreement. As one of these actions, it is studying the implementation of the BECCS system - Bioenergy with carbon capture and storage, which could make it one of the leading companies in the world and the first of RenovaBioa to have a negative carbon footprint.
SOURCE FS Fueling Sustainability
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