Pyxus International Announces ESG Framework
Building on its long-term commitment to sustainability, Pyxus strengthens commitment to improve and protect human rights, climate change and farmer livelihoods
MORRISVILLE, N.C., Dec. 8, 2021 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, today announced the framework of its environmental, social and governance (ESG) strategy, which builds off of the Company's legacy of sustainable agricultural production. With a focus on advancing progress on key global issues such as climate change, farmer prosperity and human rights, the Company is working across its operations and supply chain to enhance the sustainability of the business and deliver value to its stakeholders.
Pyxus' ESG strategy includes three key pillars underscored by the Company's purpose of transforming people's lives to grow a better world:
- Environment: To implement sustainable solutions that further improve our environmental performance and reduce the environmental footprint of the Company and its supply chain.
- Social: To support our employees, contracted farmers and the communities where we operate, protecting human rights and providing an equal opportunity for success to all.
- Governance: To operate responsibly and ethically in every action that we take.
"Pyxus' ESG strategy provides the connection between our purpose and our business priorities," said Pieter Sikkel, President and CEO of Pyxus. "As our Company continues on its journey, the implementation of this strategy is expected to strengthen our business as well as help to recruit and retain top talent. This is an important milestone for Pyxus and we are excited about the impact this strategy will have on our business, our supply chain and the world."
In support of the strategy, Pyxus has identified several relevant focus areas to advance its three pillars, as well as meaningful, measurable goals that will drive positive change and create long-lasting impacts:
- Climate Change: We rely on natural resources to operate our business, and we have a responsibility to all of our stakeholders to minimize our negative impact on the environment. Pyxus has committed to the Science Based Target initiative's (SBTi) most ambitious pledge, establishing emission reduction targets in line with a 1.5°C scenario and positioning us to reach our goal of net-zero value chain emissions by 2050. We are also striving for zero net global deforestation by 2030 so that we can help grow a greener future.
- Farmer Livelihoods: Insufficient living income can result in child labor and other social and environmental issues. We are focused on helping farmers achieve a decent standard of living through appropriate training in good agricultural practices and the opportunity for crop diversification. Our goal is to maximize 100 percent of contracted farmers' income potential by 2030 to support the socioeconomic well-being of the agricultural communities where we operate.
- Diversity and Inclusion: We recognize the power of diversity and what it can bring to an organization. That is why we aim to have our leadership reflect the employees they lead. Our goal is to increase the number of women in leadership roles by 10 percent or more in each country where we operate by 2030, compared to 2020.
In addition, the Company has aligned its approach with the United Nations Sustainable Development Goals (SDGs) and is committed to doing its part to make the United Nations' goals a reality.
"There is increasing evidence that businesses that operate sustainably and in support of the United Nations SDGs – while reporting transparently about their progress – can deliver stronger growth and returns for all stakeholders," Sikkel continued. "We are proud of Pyxus' dedication to transforming the future and we look forward to sharing updates and milestones as we move forward."
About Pyxus International, Inc.
Pyxus International, Inc. is a global agricultural company with more than 145 years' experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients. For more information, visit www.pyxus.com.
Cautionary Statement Regarding Forward-Looking Statements
Readers are cautioned that the statements contained in this press release regarding the expectation of achieving the Company's goals or the anticipated impact on the Company from the implementation of its strategy to achieve these goals are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Presentation of the Company's goals should not be viewed as a guarantee that the Company will be able to achieve these goals within the time periods anticipated or at all, particularly if underlying assumptions prove inaccurate, or if known or unknown risks or uncertainties prevent the achievement of these goals. Many of these risks and uncertainties are beyond the Company's control, including without limitation, challenges relating to economic, competitive, governmental and technological factors affecting the Company's operations, markets and products. The Company does not undertake to update any forward-looking statements that it may make from time to time.
SOURCE Pyxus International, Inc.
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