The Mosaic Company Affirms It Is "Leading With Purpose" & Announces New Environmental Sustainability Targets
Mosaic Releases Its 2014 Sustainability Report on Commitments, Challenges and Progress
PLYMOUTH, Minn., June 23, 2015 /PRNewswire/ -- The Mosaic Company (NYSE: MOS) today released its 2014 Sustainability Report titled, "Leading with Purpose," which outlines the company's sustainability progress and new 2020 sustainability targets. The company's sixth Sustainability Report discloses information on 95 Global Reporting Initiative (GRI) indicators and is prepared in alignment with G4 Core Sustainability Reporting Guidelines, which have an increased focus on materiality. The report's data has been assured, and its water, waste, energy and greenhouse gas emissions information is externally verified by third-party reviewers.
"No element of our company's progress shines more brightly than our commitment to sustainability. Mosaic is leading the crop nutrition industry, and we are leading with purpose. We're growing our value to shareholders while achieving measurable and meaningful environmental and social progress," said Jim Prokopanko, President and Chief Executive Officer of The Mosaic Company. "Our employees and stakeholders have played an important role in helping Mosaic identify opportunities to improve. This report reflects our focus on delivering industry-leading sustainability performance."
New Environmental Sustainability Targets:
Mosaic's strategic 2020 sustainability targets are designed to advance innovation across the company, drive resource conservation, and result in cost efficiencies and savings. They are the company's second set of publically announced sustainability-related goals since 2009.
- Reduce freshwater use by 10 percent per tonne of product produced; avoiding approximately 38 million cubic meters of freshwater withdrawal—or the water it takes to fill 15,000 Olympic-sized swimming pools.
- Reduce total energy use by 10 percent per tonne of product produced; avoiding the use of approximately 30 million gigajoules of energy—or the energy it takes to power about 660,000 homes for a year.
- Reduce greenhouse gas emissions by 10 percent per tonne of product produced (combined Scope 1 direct emissions and Scope 2 emissions from purchased electricity); avoiding the emission of approximately 3 million tonnes of CO2e—or the annual emissions produced by 580,000 cars.
"As global demand for food, water and precious natural resources increases, we are driven to improve how we operate and produce crop nutrients," said Joc O'Rourke, Chief Operating Officer of The Mosaic Company, who will become Mosaic's Chief Executive Officer effective August 5, 2015. "These water, energy and emissions targets build on our existing business strategy, and position us to stretch our environmental responsibility efforts even further."
2014 Sustainability Performance Highlights:
- 8 percent improvement in annual recordable injury frequency rate safety performance, and Mosaic's third consecutive record year for safety performance
- 99 out of 100 carbon disclosure score, and a grade of "A" for climate performance, in its annual disclosure to investors through CDP, formerly Carbon Disclosure Project
- 7 million gigajoules of electricity produced in Mosaic's North America operations through cogeneration, the process of converting waste heat to energy. By producing and using its own clean energy, Mosaic avoided approximately 1.6 million tonnes of carbon equivalent emissions, which is comparable to powering about 40,000 homes
- 90 percent of the water used at Mosaic's Florida phosphate and Saskatchewan potash operations was reused or recycled
- 2 million trees were planted by Mosaic's phosphate business as part of its efforts to reclaim approximately 6,000 acres of land in Central Florida
- $17 million invested in food, water and local community programs and partnerships where Mosaic operates
- Fifth consecutive year on Corporate Responsibility Magazine's 100 Best Corporate Citizens list, and was recently named No. 40 on the 2015 list
Read The Mosaic Company's Sustainability Report at www.mosaicco.com/2014sustainabilityreport, use the GRI G4 Content Index and view the How We Lead infographic. For additional information, view Mosaic's 2014 Annual Review & Business Outlook released in April 2014 and reference archived sustainability reports and GRI tables.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the Wa'ad Al Shamal Phosphate Company (also known as the Ma'aden joint venture), the acquisition and assumption of certain related liabilities of the Florida phosphate assets of CF Industries, Inc. ("CF") and Mosaic's ammonia supply agreements with CF; repurchases of stock; other proposed or pending future transactions or strategic plans and other statements about future financial and operating results. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties. These risks and uncertainties include but are not limited to risks and uncertainties arising from the ability of the Ma'aden joint venture to obtain additional planned funding in acceptable amounts and upon acceptable terms, the timely development and commencement of operations of production facilities in the Kingdom of Saudi Arabia, the future success of current plans for the Ma'aden joint venture and any future changes in those plans; difficulties with realization of the benefits of the transactions with CF, including the risk that the cost or capital savings from the transactions may not be fully realized or may take longer to realize than expected, or the price of natural gas or ammonia changes to a level at which the natural gas based pricing under one of the long term ammonia supply agreements with CF becomes disadvantageous to Mosaic; customer defaults; the effects of Mosaic's decisions to exit business operations or locations; the predictability and volatility of, and customer expectations about, agriculture, fertilizer, raw material, energy and transportation markets that are subject to competitive and other pressures and economic and credit market conditions; the level of inventories in the distribution channels for crop nutrients; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic's international operations and those of joint ventures in which Mosaic participates, including the risk that protests against natural resource companies in Peru extend to or impact the Miski Mayo mine; changes in government policy; changes in environmental and other governmental regulation, including greenhouse gas regulation, implementation of numeric water quality standards for the discharge of nutrients into Florida waterways or efforts to reduce the flow of excess nutrients into the Mississippi River basin, the Gulf of Mexico or elsewhere; further developments in judicial or administrative proceedings, or complaints that Mosaic's operations are adversely impacting nearby farms, business operations or properties; difficulties or delays in receiving, increased costs of or challenges to necessary governmental permits or approvals or increased financial assurance requirements; resolution of global tax audit activity; the effectiveness of Mosaic's processes for managing its strategic priorities; adverse weather conditions affecting operations in Central Florida, the Mississippi River basin, the Gulf Coast of the United States or Canada, and including potential hurricanes, excess heat, cold, snow, rainfall or drought; actual costs of various items differing from management's current estimates, including, among others, asset retirement, environmental remediation, reclamation or other environmental regulation, Canadian resources taxes and royalties, the liabilities Mosaic assumed in the Florida phosphate assets acquisition, or the costs of the Ma'aden joint venture, its existing or future funding and Mosaic's commitments in support of such funding; reduction of Mosaic's available cash and liquidity, and increased leverage, due to its use of cash and/or available debt capacity to fund share repurchases, financial assurance requirements and strategic investments; brine inflows at Mosaic's Esterhazy, Saskatchewan, potash mine or other potash shaft mines; other accidents and disruptions involving Mosaic's operations, including potential mine fires, floods, explosions, seismic events or releases of hazardous or volatile chemicals; and risks associated with cyber security, including reputational loss, as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.
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