Renewable Energy Group Releases 2021 ESG Report
May 16th, 2022 17:00 EST
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (REG) (NASDAQ: REGI) is pleased to announce the issuance of its 2021 environmental, social and governance (ESG) report. As the world transitions to clean energy solutions, REG plays a critical role in the advancement of decarbonization of liquid fuels.
“At the core of what we do is our shared purpose to create a cleaner world with a focus on reducing greenhouse gas (GHG) emissions and carbon footprint, for now and for the future,” said REG President & CEO, CJ Warner. “This motivation continues to drive our sustainable operations and deliver the clean, high performing fuels that benefit both our customers and our planet.”
The new report showcases the company’s 2021 ESG performance. Highlights include:
- Produced 480 million gallons of bio-based diesel, which generated 4.1 million metric tons of carbon reduction
- 78% of feedstocks used to make products sourced from waste and residual streams
- Issued $550 million “green bond” to finance the expansion of REG’s Geismar, Louisiana biorefinery and broke ground on the expansion and improvement project
- Set corporate record for safety performance with industry leading 0.23 OSHA incident rate
- Increased Board diversity with new Board appointees bringing impressive backgrounds and experience and established explicit Board diversity goal
- Enhanced sustainability reporting to increase alignment to the Sustainability Accounting Standards Board (SASB) standard for the biofuels industry
About Renewable Energy Group
Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, Renewable Energy Group produced 480 million gallons delivering 4.1 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding REG’s role in future decarbonization, REG’s focus on reducing GHG emissions and carbon footprint, REG’s sustainable operations and the benefits to customers and the planet. Factors that could cause actual results to differ materially include the risks and uncertainties and include but are not limited to the failure of REG to achieve its strategic growth plans, customer desire for clean fuel options, changing sustainability targets, failure of legislative efforts to promote renewable fuels, increased competition from other low carbon fuel suppliers, changing standards applicable to renewable fuels which may require different manufacturing processes and requalification of our fuels, the availability and promotion of electric vehicles and other risks described in REG’s annual report on Form 10-K for the year ended December 31, 2021, subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and REG does not undertake to update any forward-looking statements based on new developments or changes in its expectations, except as required by law.