Unleashing the
ANNUAL REPORT 2022/2023
Contents
Greenyard at the heart of the global transition
The pure power of plants: an integral part
of Greenyard’s Strategy 2030 18
Our strategy in a nutshell: nine Greenyard-themes 20
Food of the future: the role of fruit
& vegetables for people & planet 23
The transition to pure-plant diets is the only
The pure power of plants as part
Why fruit and vegetables should play the starring
Increasing healthy, pure-plant food consumption through innovation 32
Making our customers stand out from the crowd 38
Bridging the gap between growers and the market 44
Driven by a passionate group of people 51
improving life with our sustainability strategy & reporting 59
Double Materiality Assessment 62
Sustainability Roadmap & Ambitions 66
United Nations Sustainable Development Goals 74
41
In an ever-evolving agricultural
industry, staying ahead of the game requires a seamless integration of customer relationships with efficient supply chain management.
Climate change & footprint reduction 79
Food waste & circular economy 86
Sustainable agriculture & biodiversity 89
Talent attraction & employee development 100
Health, safety & well-being 103
Local community engagement & citizenship 105
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Economic impact & governance 107
Food safety, quality & traceability 114
Introduction 130
Eligible activities of Greenyard under
EU Taxonomy 131
Definition of Turnover, CAPEX and OPEX
within the EU Taxonomy 132
103
As a people-oriented business, we always
prioritise the health and safety of our employees. Regardless of their job, role or function. Everyone must feel protected and safe at work.
As a responsible company, Greenyard commits to a sustainability strategy that reflects the views of its stakeholders and adresses the issues that really matter.
64
Assurance statement auditor 139
Data tables 147
GRI-index 153
Financial Report 161
Message from the CFO | On a steady course
towards a healthier future for all 162
Report of the Board of Directors 175
Consolidated financial statements 223
Notes to the consolidated financial statements 231
Statement of responsible persons 287
Statutory auditor’s report on the consolidated
Condensed statutory accounts of the parent company greenyard nv, according to belgian
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Message from our co-CEOs
T
he financial year 2022-2023 was marked once again by severe macro-economic circumstances.
After navigating through COVID and the global supply chain disruptions of 2021-2022, we were con- fronted with the shocking war in the Ukraine. A horrible conflict, with unspeakable consequences in the region. And with a severe impact on people and businesses throughout Europe and beyond. It resulted in shortages, unseen inflation rates, equity market volatility and soar- ing energy prices as from March last year.
People’s purchasing power was clearly impacted, to the point where some needed to make tough choices in their household budgets and their food expenditure. The avail- ability – and in some cases the accessibility – of healthy foods, became more important than ever.
Our colleagues stepped up and truly went the extra mile. Together, we navigated through another unpredictable year. We want to explicitly thank them. They show great passion for our products, find creative solutions and have displayed tireless efforts to do what they promise. Together with our customers and our growers, we all further supported the acceleration towards a healthier future for all.
Strong results in tough times – outperforming the market
Greenyard continues to build a strong track record, with like-for-like net sales increasing to € 4 638,0m (+7,9%). Adjusted EBITDA increased to a level just above last year, to € 167,3m. In addition, the net financial debt of the group (pre-IFRS 16) has decreased to € 277,3m (from
€ 303,6m last year), even with higher valued inventory in the Long Fresh segment due to inflation. The lever- age ratio further decreased from 2,4x to 2,2x. Net result ended at € 9,3m versus € 16,9m last year.
These are very strong results in such a difficult year and we did it on our own strengths, by improving our operations and being resilient in our price setting. Once again illustrating the strength of our business model, with our Integrated Customer Relationships (ICR) as the catalyst for our performance. Our effective model ena- bled us to work more cost-efficiently in the supply chain and to better charge through increased input costs, in a
transparent manner (even if not fully, and with a limited time delay). This allowed us to capture price increases, based on open and fair communication, which resulted in price increases by 8,5%.
Moreover, where many retailers were struggling with product shortages and empty shelves, we have been able to supply our customers with a full range of products throughout the year. Relying on our global scale with sourcing capacity over the entire world, and our long- term relationships with growers, we were able to adapt and find solutions for our customers.
A growing appetite for our unique business model
In these times of volatile markets and product shortage, we are seeing a growing appetite for our way of working. Early 2023, we have concluded another Integrated Cus- tomer Relationship with an important retailer, supplying and servicing more than 100 stores in Germany. Today, in total, already 75% of the Fresh sales originate from Integrated Customer Relationships. Today, we are already working on the next ones.
The market also recognises the value of our sustainable and transparent way of working. Sustainability has always been the cornerstone in our strategy. It is an essential element in all decision-making processes, from sourc- ing and distribution to our daily operations, and even in finance: last year, we refinanced all our loans into
sustainability-linked loans. It’s a decision which clearly illustrates that sustainability is embedded in every layer of our organisation, creating value for our customers, consumers, our supply chain and the environment.
An offering for every budget and lifestyle
In this financial year, we also reaped the benefits of another part of our unique business model – our com- plementary offering of fresh, frozen and prepared prod-
With 10 billion people to feed by 2050, we will have to find better and more sustainable ways of producing
food – with less impact and more nutritional value – if we don’t want to jeopardise the future of our planet for our children, grandchildren, and the generations after them. The time is now.”
Hein Deprez, co-CEO Greenyard
We look ahead with confidence. As we move forward, we remain resolute to achieving sustainable growth and creating long-term value for everyone in the food value chain, and for our shareholders.”
Marc Zwaaneveld, co-CEO Greenyard
ucts. The European sector organisation for fresh produce, estimates that the average consumption of fresh fruit and vegetables per capita declined by 10% in the year 2022(*). Contrary to this, Greenyard has seen volumes remain stable, with a slight decrease of - 0,8%. A limited drop in volumes in the Fresh segment (- 1,9%) shows that our Fresh division is performing stronger than the total market of fresh fruit and vegetables. This leads to the fact that we are taking additional market share in this segment. And on top of that, we also see a clear increase in volumes in the Long Fresh segment (+ 4,5%). It sets us apart in the sector and creates a strong steppingstone for future growth.
This evolution shows the power of our unique combi- nation of three divisions. Greenyard was able to absorb the volumes of consumers that have down traded from certain fresh categories into frozen and ambient food categories. And this is exactly where the synergies of our global business lay: at the consumer side. Our com- plementary product offerings are in line with consumers’ own experiences and expectations and enable us to pro- vide consumers with the right product for any budget, any lifestyle and any eating moment.
During the tough macro-economic circumstances of last year, we did not slow down our search for continuous
improvement within our own operations. We see it as our responsibility towards our growers and our customers to be at the forefront of innovation, operational excellence and technology. The roll-out of ERP software in the Fresh division will allow us to capture more and better data and translate them into valuable business information. The same goes for our forecasting tools used to better predict supply and demand. We continue to push our organisation to be mindful of the value of information to better service our customers and consumers.
Looking forward with confidence
Based on our performance of last year, we have decided to reinstate a dividend policy. Greenyard's Board of Direc- tors will therefore propose to the general meeting of shareholders on 15 September 2023 to approve a divi- dend of € 0,10 per share for the full financial year which ended in March 2023.
And we look ahead with confidence. As we move forward, we remain resolute to achieving sustainable growth and creating long-term value for everyone in the food value chain, and for our shareholders. We expect our sales to grow to ca. € 4 900m for the full financial year 2023-2024 and expect an Adjusted EBITDA of € 175-180m. Also in
* Freshfel Europe is the European Fresh Produce Association, representing the interests of the fresh fruit and vegetables supply chain in Europe and beyond. Freshfel Europe currently has over 200 members, including both companies and associations. Press release with the projections can be found here: https://freshfel.org/newsroom/press-releases/
this new financial year, we will continue our journey with a clear focus on additional growth opportunities. We expect further acceleration in our Integrated Customer Relationships (organic growth and new relationships), upcoming product and category innovations and keep looking for relevant and value adding external growth.
Looking to the years to come, we set our ambitions for the longer run at € 5,4bn sales and between € 200-210m of Adjusted EBITDA, by the end of March 2026.
The future of food is here –
and it’s all about pure-plant power
We are confident in our ambitious outlook because we are convinced we are on the right side of history, for people and for our planet. Every indicator shows that fruit and vegetables – even though they have been around since forever – are the food of the future.
With 10 billion people to feed by 2050, we will have to find better and more sustainable ways of producing food – with less impact and more nutritional value – if we don’t want to jeopardise the future of our planet for our chil- dren, grandchildren, and the generations after them. The time is now.
Consumers are looking for healthier lifestyles, a search that has been intensified following the worldwide COVID pandemic. Even the most gastronomic restaurants are putting pure-plant food at the centre of their menus. Our renewed appreciation for pure-plant food is not just some hype. What we are seeing today is a cultural transition – we have reached a tipping point and we’re not going back.
Today, as a global leader in this domain, Greenyard is at the heart of this major transition. As a matter of fact, it has been our purpose since the very start of our company – which was founded exactly 40 years ago, in June 1983. Since then, we have gathered all the building blocks we need to realise our purpose. We have the global scale, the footprint and the passionate people to do so. Moreover, our connections with most of the world’s biggest retailers and with the world’s greatest growers further enhance our potential for success.
We have everything we need to be the driving force in the transition to a healthier future and boost the con- sumption of fruit and vegetables, which is still well below recommended amounts. Our purpose is to improve life through pure-plant food experiences. We believe in the power of natural products, close-to-crop, bursting with nutrients and in the full glory of their authentic taste, colour and texture. Our pure-plant Gigi Gelato and our collaboration with We’re Smart are just two examples of how we want to bring our vision to life and accelerate the transition. We constantly work on creating new ways and new moments of consumption of fruits and vege- tables. For instance by introducing indulgence via guilt free snacking and by educating people on how to prepare pure-plant menus in an easy way, and full of taste.
Join us on our journey!
We would like to take the opportunity to thank all our stakeholders for another strong year and we invite anyone who shares our vision to join us on our exciting journey. In this report, we are happy to take you on a fascinating tour to discover our unique vision and our main accomplishments of the financial year 2022-2023. Together we can further improve life, by unleashing the pure power of plants.
Hein Deprez, Marc Zwaaneveld, co-CEOs Greenyard
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Highlights
12 / MESSAGE FROM OUR CO- CEOs | HIGHLIGHTS | GREENYARD’S RELEVANCE | FOOD OF THE FUTURE | PURE POWER OF PLANTS | DRIVEN BY PASSION & PEOPLE
2022
APRIL
JUNE
JULY
Launch of the internal Around the Yard Newsletter
Greenyard takes it to heart to connect colleagues across the world with each other. Therefore, the internal quarterly magazine was completely revamped to bring the many Greenyard Stories to life, exchange pure-plant recipes, and stay up to date with news from the different departments. A six-weekly digital newsletter now reaches 8 500 colleagues, further cultivating stronger connections among colleagues through a blend of local and global news.
Solid financial results 2021-2022
In its annual report for the financial year 2021-2022, Greenyard announces robust sales growth, further building on a strong foundation set in the previous
year. These positive results were driven by Greenyard’s Integrated Customer Relationships, the expansion of convenience offerings, and a solid financial framework.
Validation of science-based sustainability targets
Greenyard’s aim to reduce direct emissions by 70% by 2030, and have suppliers adopt science- based targets, were validated by the Science Based Targets initiative aligned with the Paris Climate Agreement’s objective.
Completion of a
real estate transaction
Greenyard completed a lease- and-lease-back deal with W.P. Carey Inc. for its Prepared facility in Bree, Belgium. The transaction generated € 89,9m in proceeds, used to voluntarily reduce bank debt.
SEP TEMBER
Refinancing with banking group secured funding stability
Greenyard secured € 420m of
refinancing, ensuring stability and growth for the next five years. A syndicate of banks provided senior secured loans to further execute our Strategy 2030. The ambition was also set to quickly convert all ongoing loans to sustainability linked loans.
GREENYARD APPROACH | ENVIRONMENTAL IMPACT | SOCIAL IMPACT | ECONOMIC IMPACT & GOVERNANCE | GREENYARD AT A GLANCE | FINANCIAL REPORT / 13
SEP TEMBER
OC TOBER
DECEMBER
Sustainability Report
Greenyard published its fifth Sustainability Report. In the report, Greenyard looks back on a year where the company made important progress on its Sustainability Roadmap 2025, and rolled-out an extended
sustainability database to measure sustainability efforts across the group.
Changes to the Board of Directors
The Annual General Shareholders’
Meeting approved the renewal of Mr Koen Hoffman’s mandate as the independent Chairman and appointed Mr Gert Bervoets as a new independent director. Also, Director Alychlo NV’s board representation was taken up by Ms Els Degroote. These changes led to a diverse and balanced composition of industry and business leaders on Greenyard’s Board, meeting professional experience, knowledge, and expertise requirements.
Fruitful participation at Fruit Attraction 2022
Greenyard exhibited at Fruit Attraction with a stand that showcased its Strategy 2030. Fruit Attraction is the international trade show for the fruit and vegetable industry in Madrid and has become a leading commercial tool of connection for food value chain experts from all corners of the world. Greenyard leveraged the occasion to display its role
as a global, connecting partner between growers, retailers, and logistical partners.
Sustainability efforts recognised by CDP
Greenyard was rewarded with sound CDP scores for its efforts in 2021 to further improve and lower its carbon footprint for a
more sustainable food value chain. Greenyard received a B for climate change as well as water security transparency, and a C for forests transparency.
14 / MESSAGE FROM OUR CO- CEOs | HIGHLIGHTS | GREENYARD’S RELEVANCE | FOOD OF THE FUTURE | PURE POWER OF PLANTS | DRIVEN BY PASSION & PEOPLE
JANUARY
Sustainability Linked Loans
Greenyard went the extra mile by tying sustainability goals to its ongoing loans. The goals are in line with the ambitions of Greenyard’s Sustainability Roadmap and have been translated into annual targets for the period of the sustainability linked loan. The targets focus
on reduction of CO2-emissions, lowering water usage and making sure that 93% of the sourced goods from medium and high-risk countries come from certified growers.
Celebrating 25 Years of BND
The international growers’ association BND, co-founded by Greenyard Prepared, celebrated its 25-year anniversary. With the foundation of BND, Greenyard was a true pioneer in close and integrated relationships with growers. It supports local farmers, within a 100km radius of the site, in every possible aspect of their business. From introducing the latest agricultural practices to reducing the use of energy, water, and plant protection products.
Green Energy for Greenyard Frozen Poland
Greenyard Frozen Poland shifted to a renewable energy contract to power their operations starting from 2023. After The Netherlands
they became the second Greenyard entity where all facilities are powered by renewable energy sources, including solar and wind energy. This will further reduce Greenyard’s overall CO2-emissions significantly.
Launch of the first e-truck at Bakker Belgium
Bakker Belgium, a Greenyard company, unveiled the first 100% electric truck in its fleet to deliver fresh fruit and vegetables. The new truck decreases the CO2-emissions of the Bakker Belgium fleet by a significant 11%, while delivering 18 million kilograms of fresh fruit and vegetables every year.
GREENYARD APPROACH | ENVIRONMENTAL IMPACT | SOCIAL IMPACT | ECONOMIC IMPACT & GOVERNANCE | GREENYARD AT A GLANCE | FINANCIAL REPORT / 15
MARCH
Launch of the ‘Intranet’ – an internal connection hub
Greenyard launched a completely new and integrated global intranet. An internal content hub full of Greenyard Stories, connecting colleagues by providing access to local and global company news,
HR and communication tools, and an interactive organisational chart. All centralised on a single online platform, exclusively for employees.
Sustainability Award for Greenyard Frozen UK
Greenyard Frozen UK was awarded the title of ‘Environmental Champion’ at the 2023
Kings Lynn Mayor’s Business Awards. A local, sustainability initiative that recognized Greenyard’s exceptional business accomplishments and
contributions to the local economy. Whenever feasible, Greenyard is using locally sourced vegetables for convenient and affordable frozen products that at the same time prevent food waste.
Finalised deal with
We’re Smart for a five-year partnership
Greenyard rounded up the preparations for a five-year partnership with We’re Smart, the world’s foremost culinary reference for fruit and vegetables. Together they aim to further accelerate the active promotion of sustainable and healthy eating through the pure power of plants, as well
as collaborating on pure-plant food innovations for Greenyard’s customers.
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Greenyard’s relevance today, and tomorrow
G
reenyard is a company with a clear purpose and ambition: we want to improve life through pure-plant food experiences, enabling healthier
lifestyles while ensuring more sustainable food supply chains. We do so by being a true connector throughout the entire food value chain. Our Strategy 2030 provides us with a clear roadmap on how we want to realise that ambition.
FLORENS SLOB
“Our purpose and strategy are driven by sustainabil- ity,” says Florens Slob, Group Sustainability & Innovation Director. “As one of the largest players in the world of fruit and vegetables, we are at the heart of one of the most important global transitions towards a more sus- tainable future. We see the challenges of climate change, biodiversity loss and a growing world population. At the same time, we see the opportunities of fundamentally changing the way we consume and produce food. A major shift towards more pure-plant food is seen as the only way forward.”
“We have a huge role to play in this shift, along with many others in the chain,” says Dennis Duinslaeger, Group Strategy & Investor Relations Director. “The average consumption of fruit and vegetables is still way below recommended daily amounts. This means we need to make it easier for people to make better and healthier choices – convenience is of the essence in today’s busy world. It is our ambition to develop new and exciting pure-plant food experiences, but always stay true to the natural power of fruit and vegetables.”
For many years, Greenyard operates a unique business model in the world of fruit and vegetables. “Even in our mature market, there are still many gains to be made in the way fruit and vegetables are brought to market,” says Florens Slob. “By connecting growers, retailers and con- sumers in a seamless and demand-driven supply chain, we are able to improve efficiency and reduce waste in every step. So, not only is our product more sustainable, our unique business model and the way we operate also directly contributes to a healthier life for all. And as time moves on, we clearly see a growing appetite among both growers and retailers for our way of working and our customer base continues to grow.”
A major shift towards more pure-plant food is seen as the only way forward.”
Florens Slob, Group Sustainability & Innovation Director
DENNIS DUINSLAEGER
Even in our mature market, there are still many gains to be made in the way fruit and vegetables are brought to market.”
Dennis Duinslaeger, Group Strategy & Investor Relations Director
“Finally, all of these things would not be possible without the knowledge and passion of our people,” says Dennis Duinslaeger. “We have around 8 500 people working for Greenyard around the world. They are the true driving force behind our company. Delivering the best-quality fruit and vegetables for our customers on a daily basis and building strong relationships with everyone in the chain is essentially a people’s business. We need to be there to support them in every step along the way.”
Sustainability
Fruit and vegetables – our core products – are the cornerstone of a sustainable food system that operates within planetary boundaries. We team-up with our strong global network of growers, bundling volumes and establishing long- term commitments. We continuously work towards improvements on the ecological aspects in agriculture while working towards 100% compliance on social aspects.
Improving health
Food will once again become the starting point for a healthy lifestyle. To provide this for everyone around the world, we do our part to increase the consumption of fruit and vegetables.
The pure power of plants
Fruit and vegetables – the plants themselves – are our core products, in all their pure and natural power. We are growing the market for pure-plant, close-to-crop products in the fresh, frozen and prepared category. It is what we do today, what we have been doing for 40 years, and how we will continue to make the difference in the years to come, as we continue to innovate for a healthier future.
Innovation
Ever since we started, we have found new ways of improving life through fruit and vegetables. We are continuously accelerating our innovation journey. With a clear focus on developing new, pure-plant food experiences that are convenient for the consumer, and by teaming up with specialised partners, scale-ups and start-ups. In this, sharing data and the smart use of technology are key drivers for Greenyard’s growth.
Strategy 2030
SUSTAINABILIT Y
IMPROVING HEALTH
THE PURE POWER OF PLANTS
INNOVATION
CONVENIENCE
HUMAN CULTURE
INTEGRATED COLLABORATION
HIGH PERFORMANCE
GLOBAL PLAYER
Convenience
People look for healthier but at the same time convenient food. It’s our job to make that choice easier for them and grow the market for convenience in pure- plant nutrition. Our aim is to help people increase their daily intake of fruit and vegetables – whenever they want it, how they want it and where they want it.
Human Culture
We are passionate about what we do. We honour the heritage that laid the foun- dations for Greenyard and serves as guidance for our future. Entrepreneurship and a forward-thinking approach remain an important part of our success. We embrace openness, where all colleagues feel safe and respected. We stand for a positive environment, a safe haven, where everyone can flourish.
Integrated collaboration
Our products are unique, and we are experts in delivering them all year round and all over the world. For this, we build on our long standing and strong rela- tions with a great network of growers. We work with the largest retailers, in a fully adapted way. We offer high quality products, and high value services such as: ripening, quality control, innovation, logistics and advice on the full supply chain and the best assortment.
High Performance
Everything we do, starts with our purpose to improve life. We permanently seek improvements throughout the value chain, from grower to retailer and from Fork-to-Field. Getting better every day is what drives us.
Global player
We have built an exceptional and global network of growers and are working with world’s largest retailers to provide consumers with tasty, healthy and sustainable food solutions, all year round.
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Food of the future:
the role of fruit & vegetables for people
& planet
MARJOLEIN BRASZ
F
oodvalley was established in 2004 as a not-for-profit organisation, closely linked to
the buzzing innovation ecosystem in Wageningen, the Netherlands. “Today, we have a network of more than 600 partners, from start-ups to multinationals, and we’re still grow- ing strongly,” says Marjolein Brasz. “As the effects of climate change are being felt close to home – just think of the floods last year in Belgium and the Netherlands or the annual forest fires in Southern Europe – there’s clearly a growing sense of urgency among citizens, politicians and business leaders.” Greenyard has been a network partner since 2022. A perfect match, since our vision of low-processed, close-to- crop, pure-plant food is fully in line with the vision of Foodvalley.
Transitions are never easy
“By 2050, we will have close to 10 billion mouths to feed. Our current practices in food production and consumption are simply not fit to provide every one of them with healthy food without depleting resources. Pretty much everyone agrees we need a large-scale tran- sition to more pure-plant foods in our daily diets.
However, a transition of this magni- tude cannot be done overnight and requires close collaboration across the entire food chain. “It’s not just the consumer that needs to change, it’s not just the industry, it’s not just the government. It’s all of us at the same time, in a concerted effort. Moreover, there’s always some- thing else that holds our day-to-day attention – the COVID pandemic, the war in Ukraine, rising inflation, volatile energy prices, a tight labour market. That’s where we come in. As a practice leader and dedicated organisation, Foodvalley can bring the right partners around the table
to work on systemic changes and develop projects that can make a real difference.”
Switch to more sustainable protein sources
Foodvalley focuses its efforts on three central themes: Protein Tran- sition, Food & Health and Circular Agrifood. The first theme involves shifting towards more sustainable protein sources. Today, about 60% of the proteins we consume origi- nate from animals, with only 40% coming from plants. We need to –
Pretty much everyone agrees that a transition to more plant-based diets is the only forward. Which is easier said than done, so we all need to work together to achieve this.”
Marjolein Brasz, CEO of Foodvalley
at least – inverse that ratio as soon as possible. The consumption of animal-based proteins needs to be reduced drastically.
“There is a clear need to invest in knowledge, technology and facilities in order to produce higher-quality ingredients and stimulate the pro- duction of plant-based proteins, preferably as local as possible. In Europe, growers of beans and pulses have almost disappeared. We need to bring them back by offering them support, both economically, tech- nically and in the long-term” says Marjolein Brasz. Within this respect,
global leaders in pure-plant foods like Greenyard are essential. Addi- tionally, it is good to see how they closely work together with their partners throughout the value chain. It is important if we are to be suc- cessful in this much needed tran- sition.
Making it easier to make the healthy choice
Moving towards a diet that is dom- inated by fruit and vegetables will not only reduce the climate impact of our food production systems, it
will also give a much needed boost to public health, as we see a world- wide increase in obesity and other diet-related diseases. “About 15% of consumers is already actively pur- suing a healthier and plant-based lifestyle. They are willing to spend the time and make the effort that is needed. But to reach the wider pop- ulation, we still have a long way to go if we want to make the healthy choice the easy choice. Whereas snacks that are high in sugar, fat and salt are literally everywhere, healthy alternatives are much harder to find. For those consumers you need to make it as easy as possible”.
“Many food companies and retail- ers are already doing their part, but with our Food Boost Challenge, we decided to take a bottom-up approach. We challenged a group of youngsters, to come up with their own ideas for new and healthier food concepts. Together with students, they got to refine their concepts further, from research to concept development and prototyping. It was great to see the amazing ideas they generated, from trendy fruit-bars and smoothies to vending machines for healthy food.”
A circular approach to food waste
Changing our eating habits is one thing, but there’s still a lot we need to do in the way we produce food. About one third of all the food goes to waste at some point in the chain – on the fields, during production and transport, in restaurants and at people’s homes. It is estimated that food waste on its own accounts for about 8% of global emissions caused by humans.
“Prevention is always the first step, but we also need to find ways to repurpose these residual streams.
We need to look at them not as an end-product but as the start- ing point, a new resource that can be used in other processes or even across different sectors. Brewer’s spent grain, a by-product from beer production, is a great example of this. Its high protein and fibre con- tent makes it an obvious ingredi- ent for other food products such as bread. The same goes for Greenyard. Not only in their business operating model do they reduce waste to a minimum; the company is also taking important steps in further optimising the by-product stream – internally and with external partners.”
“In the end, it’s all about working together, removing barriers and creating new business models,” says Marjolein Brasz. “No company can do this alone. It’s also important to realise that this transition is not going to be a straight journey – there needs to be room for trial-and-er- ror. But the direction is clear, and we are seeing our ecosystem grow day by day. With a good explanation on “why” we have to do this and solu- tions that support consumers in this transition. If we want it, the healthier future is just around the corner, and fruit and vegetables will show us the way for sure.”
Fruit & vegetables:
for a healthier and sustainable future
Feeding a growing world population
The world population will continue to grow significantly in the decades to come. Even though some of the latest predictions indicate imped- ing growth and there may even be a tipping point on the horizon, it is clear that our current food system cannot provide everyone with suffi- cient food in a sustainable manner. Transitioning to pure-plant diets will be a major part of the solution, as crops in all shapes and sizes can be grown using much less space and natural resources than any other food category.
The fight against climate change
Climate change is without a doubt one of the biggest challenges of our generation. It may even be the biggest challenge humankind has ever faced, as it threatens the very planet we live on. With the food industry as a whole accounting for about one third of global CO2-emis- sions, it is important to make sus- tainable choices when answering the everyday question “what’s for dinner?”. Fruit and vegetables play a crucial role to combat climate change as they have a relatively limited climate impact – using much less energy, water and natu- ral resources than practically every other food category. But that does not exclude us from taking respon- sibility and further reducing waste and emissions within our business model.
Enabling the shift to healthier food patterns
Progression in production tech- niques and economies of scale have made sure food is available in abun- dance in large parts of the world. But today’s food markets are too focused on highly processed foods, rich in calories, which have led to an increase in obesity and diet-related diseases. With the global, daily con- sumption of fruit and vegetables still well below the recommended amounts, there is plenty of room for improvement, and ample opportu- nities to help people shift towards healthier food patterns.
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The pure power of plants as part of the solution
FRANK FOL
A
s The Vegetables Chef®, Frank Fol has always put fruit and vegetables at the centre of
his cuisine. “When I was advocating this thirty years ago, people were still looking at me as if this was far- fetched and revolutionary. But since then, we have witnessed a structural change in our eating habits. And I firmly believe, this is not a hype that is likely to fade in a few years.”
Frank’s passion for fruit and vege- tables started when he was young, growing up in a region that is quite well-known for the cultivation of strawberries, cauliflower and chic- ory. “When I became a chef, it was only natural to give these great local products the leading role in my menus, with meat and fish relegated to a side role.” Today, Frank is the owner of We’re Smart, a world-wide organisation that inspires chefs, food companies and consumers at home to put fruit and vegetables at the centre of their plates.
A cultural transition
“Today, it’s becoming increasingly clear that this is not just some food hype, like molecular or fusion cui- sine,” says Frank Fol. “It’s a cultural transition, with everyone moving in the same direction. Moreover, it’s an absolute necessity, both for our planet and for our health. Eating more fruit and vegetables enables us to reduce our carbon footprint and at the same time counter the pro- liferation of diet-related diseases.”
“We are past the tipping point and we’re not going back,” agrees Cedric Pauwels, Group Communications & Public Affairs Director. “More and more people are discovering the joys of pure-plant food, powerful and highly nutritious, with close- to-crop fruit and vegetables as the headliners. Many of the latest food trends have been about eating less – less carbs, less sugar, less fat. But we think it really should be about eating more, but more of the good things. More pure-plant foods.”
CEDRIC PAUWELS
More and more people are discovering the joys of pure-plant food. They are powerful and highly nutritious, with close-to-crop fruit and vegetables as the headliners.”
Cedric Pauwels, Group Communications & Public Affairs Director
Straight from the field
Frank Fol also sees an important role for frozen and prepared fruit and vegetables. “I think their power and their quality are still hugely underes- timated by today’s consumers. The produce is frozen or canned within hours of harvesting, actually mak- ing them super fresh. It’s like having them served straight from the field on your plate.”
Into the aisles of the supermarket
In March 2023, We’re Smart and Greenyard signed off on a a five- year collaboration which will involve a series of initiatives to stimulate the consumption of fruit and veg- etables. We’re Smart will provide its expertise and access to its global network of pure-plant food experts to jointly develop new products for Greenyard’s customers that meet the needs of modern consumers – easy to prepare, convenient, great quality and great taste.
“It’s clear we share the same DNA and the same ambition,” says Frank Fol. “From our end, we have been focusing on chefs and gastronomy to prove to the world it can be done. They can set the example and inspire others. Teaming up with Greenyard gives us the opportunity to work on the consumer side of things and introduce innovative and affordable pure-plant alternatives to a much wider audience.”
“ They also provide people with many other benefits,” says Cedric Pauwels. “You can enjoy a much wider range of fruit and vegetables throughout the year, regardless of the season. And they reduce waste – you only take the exact amount you need for the meal you’re preparing, everything else simply goes back into the freezer.”
“In the end, it’s all about helping people discover the immense vari- ety of what nature has to offer,” says Frank Fol. “Most people – even trained chefs – only know five or six ways to prepare vegetables. There is still so much to discover! It’s up to us to prove it can be done. Believe me, we will not change the world if it does not taste great.”
MEREL NOORTS
Stimulating innovation at every level
Innovation is key in Greenyard’s Strategy 2030 to become a pure- plant food powerhouse. By offering new food experiences, we help peo- ple rediscover the benefits of fruit and vegetables, as we redefine what healthy food looks and tastes like. Technology, especially data, is cru- cial for creating a sustainable chain behind our daily diets. It improves quality control, reduces waste, and aligns supply with demand.
In the financial year 2022-2023, Greenyard established a dedicated team at Group level to support and stimulate innovation in every layer of the company and across all divi- sions. “Anyone within Greenyard can come up with good ideas,” says Sylvain Mermod, recently appointed Group Innovation Manager. “But within the constraints of the daily operations, it’s not always easy to find the means and the time to bring these ideas to fruition. That is why we created a structure where we can keep track of these ideas and deter- mine how they can be transformed into real-life, commercially viable products and processes.”
Tapping into future trends
“This does not mean we’re new to the innovation game,” continues Sylvain Mermod. “On the contrary, we are introducing hundreds of new reci- pes and products every year, mostly at the request of customers. But it’s important to also look beyond these recurring requests and find the time and space to think about new food concepts and new food experiences that tap into new consumer trends. To remain relevant in the future, we need to innovate for the market and future consumer needs. We drive the change. At the same time, it will always be important that our cus- tomers also get behind our ideas. We need to do this together with them.”
Some of these innovations may take a while to find their place in the market. “Consumer trends tend to take unexpected turns,” says Merel Noorts, Sustainability and Innova- tion Coordinator for Greenyard Fresh Belgium. “Last year, we noticed con- sumers going back-to-basics with a renewed interest in comfort food and traditional meals like soups, stews and mashes. This shows that consumers may need some time to get used to certain new products. Being a private label company, gives
us the flexibility to stop and relaunch products because sometimes, you just need to try more than once. Be persistent if you know you’re on the right track. For example, we saw our cauliflower rice finally taking a definitive place in the shelves last year. So it’s really all about patience and trusting your vision.
Sharing knowledge and leveraging our footprint
Looking at innovation at a Group level also allows us to share our expertise and leverage the footprint that we have as a company. It’s one of our strategic focus areas to prior- itise digitalisation and use all avail- able data to drive innovation and enhance our services. Therefore, we allocate resources and collabo- rate with disruptive companies to support controlled growth. “This is especially important when it comes to developing and selecting the right technologies to improve the effi- ciency within our supply chain. The forecasting tools we need within our Integrated Customer Relationships (ICR) model to better match sup- ply with actual demand are a good example of this. The same goes for preventing food waste, by repur-
SY LVAIN MERMOD
We are open to collaborations with other innovative companies in our sector and actively participate in international research projects.”
Sylvain Mermod, Group Innovation Manager
posing by-product like the peels or cut-offs that we have in our fresh convenience, frozen and prepared business. Because we have a good overview of our divisions at Group level, it is much easier to see how they can be used in existing Green- yard-products or even turned into completely new products.”
Finally, we are also looking outside of Greenyard for inspiration. “We are open to collaborations with
other innovative companies in our sector and actively participate in international research projects,” says Sylvain Mermod. “Our recent acquisition of Gigi Gelato is another good example of how we can speed up things through open innova- tion. By using our access to Euro- pean retailers, we can maximise the distribution of a ground-breaking, pure-plant gelato to a much wider audience. It shows that we can offer promising start-ups and scale-ups
in pure-plant food a great oppor- tunity. Not just connecting them to large retailers, but also to resilient resources coming from our dedi- cated growers and our own strong platform. In the end, it’s all about turning our vision for a healthier and more sustainable future into reality.”
Increasing fruit & vegetable consumption by winning the hearts & minds
of consumers
We believe in the pure power of plants as the key to healthier lives and a more sustainable way of feeding the world. But to win the hearts and minds of consumers, we need to make fruit and vegetables as affordable, accessible and attractive for as much people as we possibly can.
Affordable
First of all, we believe the many ben- efits of fruit and vegetables should be affordable for everyone. By con- necting growers, retailers and con- sumers we are improving efficiency and reducing waste in every link of the chain. Despite rising inflation, fruit and vegetables have not yet seen the same price increases we have witnessed in many other food categories. At the same time, we need to ensure a fair compensation for the growers who put in all the hard work to bring them to our table.
Attractive
Nature offers us a wealth of pure- plant power, with an incredible diversity in taste, colour and tex- ture. More and more people are starting to re-discover and appreci- ate the culinary pleasure fresh, fro- zen or prepared produce can bring. By using our product expertise to create new food experiences, we want to open up even more possi- bilities for people to enjoy fruit and vegetables.
Accessible
Fruit and vegetables are available in a wide range of varieties. We want to bring as much of those to consumers as we can – in an easy, tasty and convenient manner, freshly available at any supermar- ket, every day of the week. But we also develop new ways to help make fruit and vegetables fit into our busy lifestyles – convenient, easy to prepare and suitable for every moment, from early morning to late at night.
CONVENIENCE RANGE
Appetite for innovation
In the financial year 2022-2023, Greenyard Frozen continued the expansion of its convenience range. “Despite challenging market circumstances, we have once again achieved double-digit growth.
What’s more, is that we are seeing a renewed appetite for innovation in the retail market,” says Valentijn Verhaeghe, Business Unit Manager Convenience for the Frozen division.
“Convenience is an essential element in our strategy to stimulate the consumption of fruit and vegetables. More than ever, people are look-
ing for healthy food solutions that fit their busy lifestyles. Our convenience products may take on many forms: from frozen (ready-to-use) soups and lightly seasoned vegetables to our veggie meals with quinoa and bulgur. And yet, they are all products that are close-to-crop, with a natural
texture and the taste of freshly harvested fruit and vegetables.”
“We cooperate closely with our retail customers to boost our convenience range. We have devel- oped clear-cut promotions around the big holiday
periods and as part of culinary theme weeks. The good news is that we are able to offer these new products at competitive prices. As a private label producer, we are clearly on the right side of infla- tion, as consumers turn to the value-for-money offering of retailer brands. Moreover, frozen fruit and vegetables present an affordable food option as they are easily portioned, which also reduces waste.”
“Since November, we are seeing a renewed appe- tite for our innovative products and concepts in the market. The past few years, retailers were very much occupied with supply chain challenges and rising costs. They didn’t have as much time for
innovation as they would like. Now, customers have found their way to our tasting and development sessions, and we have been launching a steady stream of new products, including grain mixes with pulses and vegetables and the oriental variants of our cauliflower rice. It’s great to see our customers taking an active interest in what we are doing. I’m sure this will help us to lift our convenience range to the next level in the coming years.”
GIGI GELATO
Time for a healthy pleasure!
With the acquisition of the start-up Gigi Gelato, Greenyard is adding a real game-changer to its ever-expanding range of products that unleash the true power of plants. “It’s another major step in our ambition to market innovative and convenient products that stimulate the consumption of fruit and vegetables,” says Kobe Vanhaecke, Commercial Director of Greenyard Frozen Belgium.
Pure-plant innovation
Gigi Gelato was created by the Italian food tech- nologist Luigi Graziosi in collaboration with two entrepreneurs Zeno Tosoni and Ralph Barkmeijer. “It was their dream to take the Italian gelato tra- dition and values to a whole new level and develop a healthy, vegan alternative, based on fruit and vegetables,” says Kobe Vanhaecke. “Gigi Gelato does not use any dairy, nor does it use artificial flavours, additives or aromas to create a whole new pure-plant food experience, with the same creamy, sorbet bite as traditional gelato, but it is low in fat, high in fibre and doesn't have a single sense of guilt afterwards.”
Taking its inspiration from the latest trends in food pairing, Gigi Gelato is currently available in three amazing combinations: there’s strawberry, blueberry and beetroot, there’s mango, passion fruit and fennel, and there’s ginger, orange and carrot. “Fruit-flavoured ice cream is nothing new of course, but it’s the addition of vegetables, the
pure-plant formula and the creamy bite that makes Gigi Gelato a real game-changer in the frozen snack category,” says Kobe Vanhaecke.
Convenient, vegan assortment in perfect harmony with our pure-plant vision
More and more consumers are becoming familiar with the concept vegan food, and as a bonus it comes with the com- plementary benefits for both our health and the environment. Consequently, the demand for vegan products is experiencing a rapid growth. In line with this trend, Greenyard Prepared in Belgium has developed a new line of pure-plant products that aligns perfectly with this vision.
The new range comprises of four vegan soups and eight vegan pasta sauces, available in the most popular variations. The soups are conveniently packaged in stand-up pouches. Green- yard Prepared showcased their new product line at last year’s PLMA fair in Amsterdam, receiving enthusiastic reviews. They are now working towards the launch of their latest range.
A perfect match
Gigi Gelato has been available in limited quantities in several supermarkets across Europe. As part
of its Frozen-offering, Greenyard can now offer much wider market access for this ground-break- ing innovation. “It’s really the perfect match, as we share the same vision for healthy, convenient products which are purely powered by plants,” says Kobe Vanhaecke. “We are confident Gigi Gelato will be an important contender for the dominant players in this category. Moreover, the
original Gigi-team remains on board for the further development of the range, and to share ideas and knowledge with our team of expert product devel- opers.” So surely, the best is yet to come!
CHARLES-HENRI DEPREZ
Integrated Customer Relationships (ICR)
I
n the financial year 2022-2023, Greenyard further developed and strengthened its Integrated Customer Relationships with major European retailers. We spoke
to Charles-Henri Deprez, Managing Director of Green- yard Fresh, and Philip Ditchfield, Supply Chain Expert at Greenyard Fresh. “In times of inflation and product short- ages, our unique business model has once again proven its value.”
With its Integrated Customer Relationship (ICR) model, Greenyard has been pioneering a truly unique business model in the world of fruit and vegetables. The basic idea behind ICR is to fully unburden retailers in the fruit and vegetables category by creating a transparent end-to- end chain that increases quality and ensures availability. This holistic approach also allows parties to take signif- icant costs out of the chain. Greenyard offers a com- plete range of products, all year round, and fully in line with each retailer’s brand positioning. Depending on the retailers’ specific needs, we can draw up an entire menu of added-value services, including logistics, packaging, ripening services and direct-to-store deliveries.
The advantages for retailers are clear. “We remove the retailers’ insecurity and volatility of supply and we pro- vide them with a direct connection to our global network of growers,” says Charles-Henri Deprez. “But most of all, through our product knowledge and our expertise, we enable them to really stand out from their competi- tors in one of the most important categories for today’s consumers.”
Unique in the world of fruit and vegetables
Philip Ditchfield, who has worked in the field of sup- ply chain management for many years before he joined Greenyard, sees several parallels with what is happening in other sectors. “There is a clear and established trend in many industries to move away from merely negotiating prices to building integrated partnerships, where sup- pliers and customers join forces to optimise their value chain. But our ICR model is still truly unique in the context of fruit and vegetables.”
PHILIP DITCHFIELD
There is a clear and established trend to move away from merely negotiating prices to building integrated partnerships.”
Philip Ditchfield, Supply Chain Expert
“In our industry, there are many very good and savvy negotiators, on both sides of the chain,” he continues. “But if we’re honest, there really is not that much margin to play with when it comes to fresh fruit and vegetables. Working together to reduce non-adding value costs in the chain is a no-brainer, as it allows everyone to benefit.”
Starting from the demand side
Greenyard has been advocating a demand-driven model to improve efficiency and reduce waste in the supply chains for fruit and vegetables for many years. “It requires transparency and an openness to share information that negotiating parties in a transactional model would never share,” says Charles-Henri Deprez. “The planning of pro- motions is a good example of this. It’s no use doing a promo for cauliflower when supply is low and prices are high. That may sound like common sense, but retailers very often look at fruit and vegetables like they were industrial products which they are clearly not.”
This demand-driven approach also has a beneficial effect on the quality of the products that end up in the shelves. “We are working with fresh products that have a limited shelf-life – as soon as they are harvested, time is of the essence,” explains Philip Ditchfield. “You cannot stock fresh tomatoes for weeks in a warehouse as you can with toilet paper. Close collaboration is essential to create an accurate forecasting which in turn allows the retailer to put the products in the shelves when they are at their freshest, which is essential to provide the best consumer experience. I think this is also one of the reasons why we see that many of our customers who engage in our ICR- model outperform the market.”
What if the product isn’t there tomorrow?
Charles-Henri Deprez points to another factor that is increasing awareness from the retail side. “In the first months of 2023, we have seen severe shortages in the market for cauliflower, peppers and several other veg- etables because of bad weather conditions in southern Europe,” he explains. “As many retailers were struggling to fill their shelves, it made them realise – maybe for the first time in decades – that there might be a possibility that the product will not be there.”
Greenyard was able to counter these shortages thanks to the unique position we have created over the past 40 years. “Firstly, there’s our global scale. We closely work with growers around the globe, which enables us to be agile and swiftly shift regions to secure produce. We are not dependant on one or two regions. This, combined with our commitment to invest in long-term relationships with our growers, allowed us to secure produce for our customers, even when times got tough.”
The market is waking up
Meanwhile, Greenyard’s ICR model is clearly gaining trac- tion in the market, leading to a growth in inquiries and interest from retailers, including discounters and other industry players. Early 2023, the German retailer Dohle Trading Group – the group behind the German HIT super- markets – chose to enter an ICR-model with Greenyard Fresh Germany. “We are now the single supply chain partner in the fruit and vegetables category for over 100 of the retailer’s stores in Germany. The new partnership will not only remove the complexity in their supply chains but will also further reinforce their strong brand in the German market,” says Charles-Henri Deprez.
Looking from a historical perspective, many retailers have grown out of purchasing organisations that com- bine the spending power of different stores to get better conditions from suppliers. Today, the world is changing. “Forward-looking retailers realise that they are not just competing with other brick-and-mortar retailers but also with online stores – companies that are extremely customer-focused. The future is with retailers who focus all their assets on the consumer and leave the supply side of things in the hands of trusted full assortment experts, who can unburden them in every aspect,” concludes Charles-Henri Deprez.
AGRICU LTURAL PRACTICES
Digitalisation of compliance checks
In the ever-evolving landscape of the agricultural industry, staying ahead of the game requires a seamless integration of customer relationships with efficient supply chain management. As a connecting partner, Greenyard wants to unburden its customers by establishing direct connections to the field and ensuring a consistent delivery of high-quality products from compliant growers.
As part of our sustainability strategy, we require our growers to adopt good agricultural practices and obtain the necessary certifications, such as GlobalG.A.P. and Farm Sustainability Assessment (FSA). However, keeping track of the certification status for thousands of suppliers is a consider- able challenge. That’s why we have decided to implement the Agriplace software across eight of our entities in 2023,” says Judith Prang, Business Process Owner at Greenyard.
“The Agriplace platform was specifically devel- oped for the agricultural sector and helps sellers
and buyers within the food supply chain to easily exchange information with regard to quality, sus- tainability and social requirements. The platform will allow us to gain better insight into our supplier base and save time collecting and reporting the right information. As some growers supply to mul- tiple entities within our group, this creates a valu- able opportunity for quick efficiency gains in our overall operations. Agriplace also provides direct access to the GlobalG.A.P. and FSA databases for easy reference and verification.”
“Eight of our Fresh-entities, in Belgium, France, Germany, Austria, Italy, Spain and The Netherlands, are currently in the process of uploading their
data to the software. In the next phase, we will be making a direct connection to our systems. When drawing up an order, the supplier status will then be easily verified, so our buyer can go ahead with the order, safe in the knowledge that the supplier has the right credentials.”
PERFORMANCE
A data-driven approach to citrus quality
“In 2021, Bakker Barendrecht installed its first fully automated line for sorting and packing citrus fruits. A highly advanced technology, that resulted in major quality and efficiency improvements.
Based on the successful roll-out and our posi- tive experiences in the last year, we have recently implemented the same high-tech scanning tech- nique on all citrus lines, making a total of six fully automated installations,” says Marijke Wiggers, Operations Manager at Bakker Barendrecht.
“The high-tech citrus lines automate the entire process from quality control- to packaging for our citrus fruits, including lemons, limes, oranges,
grapefruits, mandarins and clementines. The fruits go through a sequence of advanced scanning techniques, including near-infrared spectroscopy
and cameras, to meticulously check quality, both on the outside – size, colour and texture – and the inside. At the end of the line, the fruits are packed in cases and nets, ready for distribution to our customer.”
“These processes give us real-time insight into the quality of every single piece of citrus that passes our system. They provide us with a massive amount of valuable data which we can correlate with the origin of the fruits, the harvesting time, transport conditions and weather circumstances. This allows us to provide our growers with accurate feedback and make significant improvements in our entire supply chain. An entirely closed feedback loop, as we jointly strive for the highest possible quality products in fresh citrus.”
An electrifying collaboration for more sustainable produce transport
Bakker Belgium, a Greenyard company, and an important Belgian retailer have partnered to intro- duce an all-electric truck for transporting fresh produce.
The new e-truck will deliver 18 million kilograms of fresh fruits and vegetables annually to the retailer's distribution centre in Belgium, saving 58 tonnes of CO2-emissions each year. Both companies are prioritizing CO2-reduction in their sustainability strategies, with Greenyard aiming for a 50% reduc- tion by 2025 and 70% by 2030.
The e-truck will cover nearly 90 000 kilometres per year, making use of on-site charging infrastructure that is powered by green energy and is connected to solar panels on our own roof. This close collab- oration demonstrates their shared commitment to reduce CO2-emissions in the food supply chain.
GESA KIP
Integrated Grower Relationships (IGR)
G
reenyard has been building long-term relation- ships with a wide network of growers for the last 40 years. We source directly from both local
growers, who are working close to our European mar- kets, and growers on the other side of the world. This global network enables us to provide our customers with a steady and stable supply of the best-quality fruit and vegetables, all year round. Our close and integrated grower relationships may take on many forms and may include guaranteed volumes, contract-growing and even joint ventures. But it’s about more than just volumes and conditions. We also support our growers in their daily operations and help them explore new and more effi- cient agricultural techniques and practices, ensuring their business remains sustainable in the long run, both from an economical and an ecological perspective.
A Fork-to-Field approach
“An integrated chain of collaboration is crucial when you’re sourcing products of nature,” explains Jens Gabriel, Group Sourcing Director at Greenyard. “Just think about it – it takes about nine months for a pineapple to grow into the delicacy that we know and love, but retailers are ordering it about three weeks before they need it on their shelves. This makes forecasting and planning – from Fork-to-Field – so important. The better we can predict demand, the better we can steer growers in the right direction.”
“Moreover, we operate in a business with delicate and per- ishable products,” he continues. “When something goes wrong, someone somewhere along the chain is bound to be impacted. It means we have an enormous responsibil- ity to find the right balance between the demand in the
market and what nature is providing. It means we need to hold our end of the bargain as well. When we plan the fruit together with the growers, afterwards we can’t just say we don’t need them, and ask the grower to sell them to someone else. We need to find ways to absorb them in the market. The fact that we supply the largest retailers around, and our Frozen and Prepared divisions come into play here as well.”
Gesa Kip, Specialist Quality Assurance for Greenyard Fresh Germany, raises another crucial aspect – the plan- ning of promotions. “Retailers have their own planning. However, when working with a natural, perishable prod- uct, they need to promote them at the right time to allow all of the product, that is prime quality at that time, to access the market. It is our responsibility to make retailers aware of the intricacies of growing produce, and use our first-hand knowledge, straight from the field, to guide them in the right direction.”
months growth time
for a pineapple to grow into the delicacy that we know and love
JENS GABRIEL
It is so important to give back to growers and invest in their future.”
Jens Gabriel, Group Sourcing Director
Connecting partner for a compliant and sustainable supply chain
Compliance is another domain where Greenyard provides an enormous added value as a connecting partner in the chain. The regulatory context is changing fast and has far-reaching implications for both growers and retailers. In February 2022, the Act on Corporate Due Diligence Obligations in Supply Chains was adopted in Germany, one of our most important markets. And other European markets will soon follow a similar approach at EU level. It obliges companies to set up processes to identify, assess, prevent and remedy human rights and environmental risks and impacts in their supply chains, and in their own operations.
“Our customers don’t always have the precise knowledge and means to fulfil these requirements for all their cate- gories, especially when it comes to overseas products. We use our expertise and our close connections with growers to unburden our customers in this area,” says Jens Gabriel.
“It’s important to realise that this is not a one-way street,” emphasises Gesa Kip. “Complying with changing regulations is equally challenging on the other end of the chain. Many of these things are being decided at desks in Western Europe, with the best intentions, but they do not always consider the realities in the field. It’s our responsibility to follow up on these changes and translate them into digestible information for our growers, so they know what is expected from them.”
”And that includes many elements, such as transparency, transportation, availability, sustainability, and so on. This is exactly why for instance fair pricing is so impor- tant, throughout the chain. And even beyond that, it is
so important to give back to growers and invest in their future,” concludes Jens Gabriel. “This will become even more important as the effects of climate change are being felt. We have to offer them the right support and advice to cope with extreme weather conditions and climatological evolutions. This is a necessity to further strengthen our connection with growers and make it clear that we are on a journey together, towards a better and more sustainable future.”
AGRICU LTURAL TECHNOLOGIES
Supporting farmers with advice and technology
Both Belgian Greenyard Frozen and Prepared divisions have a long tradition of integrated rela- tionships with their growers. Through close contacts with the growers themselves and through their respective grower associations (OPVL and BND), both companies support their growers to use the latest agricultural technologies and methods,” say Rik Ceyssens (left) and Stefaan Goudeseune (right).
“A close and fully integrated collaboration with our farmers has always been essential to guarantee the quality of our products. Once the vegetables are harvested, there is no time to waste – in a matter
of hours they are being frozen or canned. Over the years, our cooperation has evolved way beyond production planning and required volumes. Today, we support our farmers in almost every aspect of their business.”
“We have undertaken several projects to help farmers further reduce the use of crop protection and fertiliser and improve overall soil quality. In one of these projects, we are testing a digital tool to assess soil quality and pinpoint the exact areas that need extra attention. The tool provides farm- ers with detailed insight into every square meter of their fields and allows to optimise pH values, the levels of acidity, in every area.”
“But it’s not just about technology. Our agrono- mists visit the fields on a regular basis to guide farmers and offer them practical advice. Their relationship is based on trust, expertise and mutual respect. The ultimate decision is always in the hands of the farmers. Nature is unpredictable
in many ways and only they have the necessary insights to know what their fields really need at any given time.”
PERFORMANCE
Mining data for better service and better quality
“Data are an essential resource in today’s world,” says Roberto Martinez, Category Analyst at Greenyard Fresh Services. “That’s why we are in the process of building a smart platform which inte- grates all the supplier data that is available within our company and enables us to share vital informa- tion between colleagues.”
“Fruit and vegetables have a long tradition of verbal negotiation, but it takes more than just gut feeling to manage the enormous product flows we handle, day in day out, for our customers. For years now, we are generating a lot of data within our company. With the use of new tools, we can use our digital platform to centralise that information, so that we can use it to better service our customers.”
“These data include the size of the farms, their exact location, the volumes we are contracting,
the delivery dates we agreed upon, the traditional start of the season in that particular region, the expected yields based on historical data, and so on. The platform is fed from different sources and includes data from external official sources, such as official export data from the government or weather forecasts.”
“By combining all these data, we can detect certain patterns in quality and volumes. To give just one example: excessive rainfall often has a negative effect on the quality of grapes. So, when we see
a lot of rain in a certain region, we can anticipate these quality issues instead of only finding out about them when the product arrives at our site. In the end, the platform gives us all the informa- tion we need to give valid feedback to growers and
ensure our customers can count on the best quality products, every single day.”
ENVIRONMEN TAL FOOTPRINT
Better for everyone
“Through the Better for Nature & Farmer program of a large Dutch retailer, Bakker Barendrecht (a Greenyard company) has been collaborating with more than 210 Dutch growers to introduce more sustainable agricultural practices. The program, which is now entering its third year, is the result of the long-term commitment between growers, our Dutch retailer, Bakker and other service provid- ers,” says Hannah Baijer, R&D Specialist at Bakker Barendrecht.
“The aim of the program is to stimulate our grow- ers to systematically work on the topics: climate, biodiversity and soil health. Measures include for instance the installation of solar panels and the introduction of LED lighting, to systematically reduce their environmental footprint, by lowering
their energy consumption. A healthy soil is full of natural life: it ensures strong plants that require less protection. The program has already resulted in 368 kilometres of flower strips on field margins, numerous insect hotels and an increased use of natural enemies to protect crops from insects or pests.”
“The program breathes a strong commitment from all sides. Our growers agree to make the neces- sary investments, and they are also compensated for extra investments in sustainability. This is yet another great example of how our unique partner- ship with customers and growers bear fruit."
Nation-wide broccoli event amidst Polish fields
In early October, amidst the broccoli fields near Greenyard Frozen Poland’s production plant in Dąbrowa Chełmińska, the local Agro team organ- ised a nation-wide event focused on broccoli. Attendees included broccoli growers, suppliers, partners, representatives from seed companies, and crop protection firms. The event aimed to explore different broccoli varieties and their char- acteristics.
Thanks to the Polish National Centre for Agricul- tural Support (KOWR) and Greenyard's partners, participants learned about the latest monitoring techniques, protective measures, and risk man- agement strategies. The event connected stake- holders from the entire food value chain, fostering knowledge sharing and a deeper understanding of the intricate processes managed by Greenyard Frozen Poland for the benefit of buyers and other business partners.
A fruitful presence at Fruit Attraction 2022
Greenyard’s Fresh colleagues connected with each
other and fellow food professionals from across the globe at Fruit Attraction in Madrid. As one of Europe's largest fresh fruit and vegetable fairs, with over 90 000 participants from 130 countries, the 14th edi- tion provided the ideal setting to engage with growers, partners, and customers. This was especially significant after almost two years of exclusively digital encounters.
.
Greenyard seized this opportunity to exhibit its unique
'Fork-to-Field' business model and to showcase the Strategy 2030.
50 / UNLEASHING THE PURE PO WER OF PLANTS
GREENYARD ANNUAL REPOR T 2022/2023
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Driven by
a passionate group of people
ALEXANDER VERBIST
Passionate people make the difference
F
inding and attracting the right talent is crucial in realising our ambitions. But it’s not an easy job in today’s tight and demanding labour market. It does
help of course that we are a purpose-driven company, in line with many people’s aspiration to contribute to a better world.
“At the Group level, next to our Talent Development Programs, we focus on the development of common tools – such as the new Applicant Tracking System which makes it easier to follow up applications and lowers the threshold for candidates. We also provide support and share best practices in the recruitment and development domain. But it’s not a one-size-fits-all. What works in our Belgian headquarters may not work in our Polish produc- tion site or our Peruvian sourcing office. Our first aim is to support and facilitate our local colleagues so that their great ideas can come to fruition.”
Moreover, the world around us is changing fast, and our sector is no different. The use of technology and data in our processes is increasing at a rapid pace and we are mindful of the major changes in regulations and compli- ance. It means that developing our talent is not just cru- cial from a people perspective, but also from a business perspective. At the Group level, we have been initiating several programs to make sure our people are ready for the future, including our Leadership and Game-Changer Development tracks, while the divisions are focussing on business-specific training and development.
A safe haven for everyone
We are working in quite a demanding environment, where speed, flexibility and a relentless focus on quality are of the essence. Through our Integrated Customer Rela- tionships with some of Europe’s biggest retailers, we are providing millions of people with the best quality fruit and vegetables, day in, day out. It requires a lot of hard work from everyone, at every level.
People are the real driving force behind Greenyard. It is their hard work, their knowledge and their passion that have made our company what it is today – a real powerhouse in the world of pure-plant food. It is our mission to support, connect and strengthen them and create a workplace where they can fully develop their talents.”
Alexander Verbist, Group HR and Legal Director
“We expect a lot from our employees, but we also need to give back to them. Greenyard should be a safe haven for everyone, a place where everyone can feel safe and respected. We are continuously improving health and safety in our workplaces, from the installation of ergonomic desks and workstations to the prevention of work-related incidents.”
A lot of attention also goes out to mental wellbeing. Last year, we have seen many initiatives to raise awareness around this topic, both within the entities and at Group level. For instance, different sessions on the importance of resilience were offered at our corporate office to help people recognise stress indicators and open up the dia- logue with colleagues and managers. Mental well-being is also an important part of the local programs, like in the extended Vitality program at Bakker Barendrecht.”
“Nonetheless, cultivating a positive work environment is a collective effort. That is why we introduced an inter- nal Whistleblowing Tool last year, providing a confiden- tial communication channel to give a voice to concerns related to unethical behavior in the workplace. Through ongoing campaigns, targeted at both white and blue-col- lar workers, we encourage all colleagues to speak up and share their concerns whenever they witness any kind of wrongdoing. The aim is to establish a safe haven with an inclusive culture where everyone feels safe and valued.”
A strong company culture
Today, Greenyard has a diverse workforce of more than 8 500 people, consisting of 80 nationalities, speaking a variety of languages, and working across close to 19 different countries. “Despite their differences in back- ground, education and skills, they all have one thing in common – they are Greenyard!”, says Alexander Verbist. “It is our mission to nurture that feeling and make every- one feel part of the Greenyard story.”
Sharing information – about our company, our strategy, our values, our business and our goals – is crucial in this respect. A complete rehaul of our intranet is just one of
many projects we undertook to realise that ambition. We have worked hard on strengthening our internal com- munications, making it easier for people to share their stories and promote great examples of what we stand for as a company.
“All of these elements enable us to further develop a strong company culture among all our employees, built upon the foundation of our values – passionate, entre- preneurial, reliable, creative and sharing – and most of all, our purpose to contribute to a healthier and more sustainable future for everyone.”
AROUND THE YARD AND A GLOBAL INTRANET
Bringing our Greenyard-stories to life
Our people are our most valuable asset, and even when we are miles apart – quite literally – we want our colleagues to feel the Greenyard vibe
in everything we do, since we all are passionate about what we do at Greenyard. That is why we are ramping up our internal communications efforts so that we can bring our Greenyard stories to life. We did that by transforming our quarterly Around the Yard magazine to a 6-weekly digital Around the Yard newsletter. The aim of this newsletter is to connect the entire Greenyard family, people working at a desk, in our operations or people that travel a lot for their work. We do that by sharing local and global news, introducing our employees to each other, sharing colleague’s favourite recipes and so on.
Next to that, we also worked on launching a new, global intranet. It is the one-stop-shop for employ- ees to connect with each other and the company.
Two new channels to share our beautiful stories worldwide and build a strong group of passionate Greenyard ambassadors.
DEVELOPING TALENT
The game-changers of tomorrow
Nurturing and developing our talent – at every level – is essential in today’s tight labour market. “Through our Group Development Programs, we stimulate people to look beyond their own entity and their own field of expertise, and work together on strategic themes that will define the future of our organisation,” says Sarah Tijskens, Group HR Business Partner.
“Most of Greenyard’s training and development programs are being organised within the entities or the individual sites – this is the best way to guar- antee they are tailored to the specific needs of both the business and the employees themselves. At Group level, we realised an important layer was missing among our entities to nurture talent across
our entire organisation and offer our employees ample opportunities to enhance their skills within our group.”
“Our Leadership Development Track was intro- duced in 2021 and focuses on top management. In May 2023, we organised our first Game Changers program, in which 20 upcoming talents from different countries and divisions are invited to work together on strategic themes for our company.
The program will not only help them to develop their individual talent but will also allow to share knowledge and experiences within our Group and create new ambassadors for our purpose and strategy.
HEA LTH & WELL-BEING
Focus on vitality!
“Vitality is the central theme for all the efforts we undertake to promote health and well-being in our company. It can relate to many different things such as energy levels, healthy food, ergonomics, physical exercise, or a good work-life balance. And ultimately, it’s all about feeling good about yourself and your (work) environment,” says Chantal Groot, HR Specialist Vitality at Bakker Barendrecht.
“When we think about health and well-being in the workplace, our ultimate aim is to support people throughout their career and beyond. To remain in good health not just until they retire, but at least another twenty years after that. Individ- ual responsibility is key in this respect, but we do believe there’s a lot we can do as an employer. Our
efforts can range from ergonomic office chairs and workstations to hiring our own physiotherapist, from stress management to budget coaches. In
our Work-Life Balance Program, specific attention goes out to the particular life phase you’re in as
an employee. Busy colleagues in their twenties or young parents have totally different needs than our middle-aged employees.”
“We’re also promoting healthy food at our com- pany canteen in Ridderkerk. We don’t patronise and tell people what they should eat. But we do put in the extra effort in the presentation of healthy alternatives and our salad bar. It’s little things like that which give people a nudge in the healthier direction.”
PASSION FOR FOOD
Healthy food – a life-long passion
“I have always been very passionate about food,”
says Robin Pétré, who works as an International Business Developer for Greenyard.
been quite an exciting opportunity for a young guy
like me to be able to develop my talent in a grow- ing, multinational company like Greenyard.”
“Through the Prince Albert Fund I got the chance
to undertake a twelve-month project for a Belgian company outside of Europe. This is how I arrived at Seald Sweet, which is part of Greenyard’s USA operations. Since then, I have taken on the task to map our growth potential and seek new business opportunities on this side of the Atlantic. It has
“Because of my background, I feel very connected
to Greenyard’s history and the vision of its founder, Hein Deprez, for a healthier future. It’s great to be able to use my life-long passion for healthy food
in my daily work and be part of a company that is
creating a positive change in our sector.”
LANGUAGE COURSE
Language course boosts self-confidence
In 2022, Bakker Barendrecht reached out to the Stichting Lezen en Schrijven (Foundation for Read- ing and Writing) in the Netherlands to organize a language course for its employees. Andrew, one of our forklift operators, was among thirty colleagues who followed the training. “I’m very grateful
Bakker Barendrecht gave me the opportunity to improve my reading and writing skills. Being able to speak Dutch at this level gives me a lot more freedom and confidence, both in my personal life and at work.”
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The Greenyard approach: improving life with our sustainability strategy & reporting
Economic impact & Governance
Business ethics
Food safety, quality & traceability
Innovation
Risk management
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Healthy lifestyles
Social impact
Responsible sourcing
Health & nutrition
Talent attraction & employee development
Health, safety & well-being
Local community engagement & citizenship
IMPROVING LIFE
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Sustainable food supply chains
Society
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Environmental impact
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Climate change & footprint reduction
Water stewardship
Food waste & circular economy
Circular packaging
Sustainable agriculture
Moving towards pure-plant diets is crucial for healthier lifestyles and simply the best option for our planet.”
Florens Slob, Group Sustainability & Innovation Director
G
reenyard operates as a true connector within the world of fruit and vegetables, with a clear understanding of the needs at both ends of this
Enabling healthy lifestyles
Fruit and vegetables are the foundation of any healthy diet as they provide us with essential nutrients such as fibres, minerals and vitamins. Together with our customers we focus on making these healthy, daily essentials available to consumers in a convenient and affordable way while ensuring the best quality and year-round availability.
chain. Our sustainability model is driven by our purpose to improve life, as we enable healthier lifestyles through the
Ensuring sustainable food value chains
Ensuring the accessibility and affordability of nutritious fruit and vegetables for everyone is a crucial element of our commitment to sustainability. That is why we consistently strive to balance environmental sustainability and social responsibility throughout the entire food value chain.
Greenyard’s sustainability model shows a circle of stake- holders directly involved in both our business model as well as our sustainability performance. Sustainability is embedded in every decision we make, implying that every action we take has impact.
Each choice, on our journey towards healthier lifestyles and more sustainable food value chains, is clustered into three impact domains: Economic Impact & Governance, Environmental Impact and Social Impact.
Within these three domains we have incorporated all the material topics that we identified within the double materiality assessment. On these topics we have either developed policies or a strategic approach. We report on our actual performance and future plans further in this report – which has a limited assurance on specifically identified KPIs.
products we offer, while at the same time ensuring a sus- tainable food value chain. To that end, we fully embrace responsible and sustainable sourcing as our guiding prin- ciples, and we are dedicated to making a positive impact for both people and the planet.
With our approach, we can provide a clear and up-to-date status while ensuring compliance with future regulatory reporting requirements. In the course of 2023, we will analyse the requirements of the EU-CSRD (Corporate Sustainability Reporting Directive). Although some addi- tional reporting elements may be required, we expect both our sustainability model and our double materiality analysis will be reconfirmed, as they were designed with the CSRD in mind.
Together with our customers, growers and other stake- holders we firmly believe that each step we take in the right direction can create a significant impact. Our Sus- tainability Roadmap and model will serve as our guiding compass on this journey.
O
ur most recent materiality assessment was con- ducted at the beginning of 2022, and forms the basis for our latest results, which are presented
in the materiality matrix further on. This matrix helps to prioritise the most impactful ESG issues that currently matter most to our stakeholders. The double materiality assessment was performed by a specialised consultant with the future demands of the CSRD in mind. The assess- ment confirmed Greenyard’s strategy and sharpened the key targets we are working on.
In the timeframe between this assessment and reporting period of this report, Greenyard’s business model has not changed substantially. However, the war in Ukraine has sparked significant changes in the political and European sphere, rendering the reliance on fossil fuels and the urgency for transitioning to alternative energy sources more apparent than ever. Additionally, the effects of inflation have also played a role in shaping this landscape. While these impacts are huge, this does not change any- thing on Greenyard’s current materiality matrix. We will give updates on the materiality matrix every three years or when deemed necessary due to significant changes.
high
Climate Change and Footprint Reduction
Food Safety, Quality & Traceability
Importance to Stakeholders
Health, Safety & Wellbeing
Sustainable Agriculture
Responsible Sourcing
Circular Packaging
Business Ethics
Diversity & Inclusion
Innovation and New Technologies
Talent Attraction & Employee Development
Food Waste & Circular Economy
Health and Nutrition Water Stewardship
Cyber Security
Local Community Engagement & Citizenship
medium
medium
Business Impact of Greenyard
high
The assessment of Greenyard considered both the impact on people and the environment, as well as the sustain- ability issues that affect our business, which is referred to as double-materiality. The main topics were deter- mined by examining relevant third-party ESG ratings, disclosure standards, trend reports, analyses of reports by peer companies, as well as Greenyard’s own analyses and documentation. Interviews with selected customers, suppliers, growers and management, and by-proxy work- shops completed the assessment.
We will monitor all the material topics either from a sus- tainability perspective or from a business and risk per- spective. The business and risk perspective is reported separately as part of our financial report, while the sus- tainability perspective is included within this part of the report.
In our most recent sustainability report, Greenyard com- municated the findings of the materiality assessment, which prompted the formulation of a sustainable agri-
culture policy. To support this topic Greenyard joined a biodiversity learning community organised by The Shift, which gathers different companies to jointly develop policies and targets on this topic. We decided to await the outcomes of this process before publishing our policy and take along the learnings from our participation. In parallel, the Greenyard Fresh division is an active member of the Better for Nature & Farmer program that addresses biodiversity. We have similar activities with the growers that supply our Long Fresh divisions.
For our Frozen business we will perform a climate change sensitivity analysis in the course of 2023. The finding of that study will be available after the publication of this report. We will continue to do similar analyses over the coming years, but we also trust the common sense and expertise of our sourcing specialists to act on both climate change mitigation as adaptation.
A
s a responsible company, Greenyard commits to a sustainability strategy that reflects the views of its stakeholders and addresses the issues
that really matter. To establish a formal process on this topic, our double materiality assessment will be reviewed annually and updated every three years. Greenyard’s key stakeholders consist of different actors, ranging from customers, employees, growers and suppliers to share- holders and investors, banks, consumers, governmental institutions and regulators and NGOs.
Greenyard is open for any comments on its approach and actively engages in external discussions and learning communities to exchange thoughts and gain insights. Our plans are shaped through continuous dialogue with our stakeholders and our understanding of the impact of our activities along the value chain.
As a leading player in fruit and vegetables, Greenyard actively participates in industry associations and stake- holder alliances to drive our industry forward both on a national and an international level. Senior experts and managers serve as board members or participate in a wide range of projects and working groups.
We consider these initiatives essential for the effec- tive promotion of healthy lifestyles and increasing the consumption of fruit and vegetables. Additionally, they enable a more sustainable growth of produce and fos- ter responsible business behaviour towards everyone involved in the food value chain.
The local communities where Greenyard has its distribu- tion centres and factories are significant to us. Not only because our employees are from these communities, but also due to the potential positive or negative impact we may have. Greenyard is involved in these communities as an employer and acts as a responsible and active part of society.
Greenyard recognises a similar impact upstream in the value chain, within the communities where we source our products. We bring significant economic value to these communities, but we also have a responsibility to ensure the growing of our produce is done with utmost care for the local environment and the well-being of all people involved.
.
Stakeholder group | Engagement method | Organisations/Tools |
Employees • Dedicated employee communications
Management meetings
Performance evaluation reviews
Frequent feedback sessions
Code of Conduct
Employee communication: Newsflash, Around the Yard
Code of Conduct e-learning tool
Customers |
Business reviews with key customers
Daily contacts in the field (sales, quality, NPD, CSR, …)
Customer audits & questionnaires
Key Account Management
Food safety: BRC, IFS, QS, …
Sustainability: CDP, Ecovadis
Customer specific questionnaires
Growers & suppliers • Communicate expectations on social,
environmental and ethical topics through product specifications
Business reviews with key growers and suppliers
Due diligence & audits to evaluate supplier performance
Training
Greenyard quality agreements
Greenyard sourcing connections
Good Agricultural Practices: GlobalGAP, Vegaplan, …
Food safety: BRC, IFS, QS, …
Social compliance: GRASP, Rainforest Alliance, SA8000, …
Public organisations (industry associations, NGOs, policymakers, knowledge institutions) |
Board representation in industry associations
Participation in working groups & stakeholder committees
Meetings, roundtables and conferences
Internships, lectures
Industry associations: Freshfel, Profel, International Fresh Produce Association, …
Sustainability alliances: SBTi, SIFAV, The Shift, …
Knowledge institutions: Flanders Food, KU Leuven, UGent, Wageningen University & Research, Food Valley, ProteInn Club, Brightlands Materials Centre, …
Investors • Information dispersion through different deliverables
Bilateral contact via investor roadshows, conferences
Support on equity research by brokers
ESG questionnaires & ratings
Annual report, press releases
Capital Markets Days
Investor calls
Equity research documents
MSCI, Sustainalytics, Vigeo Eiris, World Benchmarking Alliance
T
he Greenyard Sustainability Roadmap was devel- oped in collaboration with senior management of our different entities and with the broader group
of sustainability ambassadors working across the Group’s divisions and locations. The approach was approved and endorsed by Greenyard’s Board of Directors and the Leadership Team.
At the start of 2022, Greenyard’s Roadmap and the related key targets were confirmed with a double mate- riality assessment. Shortly after the summer of 2022, this structured approach proved to be a springboard for the sustainability-linked credit facility that was communi- cated at the beginning of 2023. According to our plans we will review and update the Roadmap in 2023. We will do so after a gap-analysis on the reporting requirement, related to the upcoming CSRD, has been performed. We do not expect significant changes other than adding relevant targets.
Progress and changes in the financial year 2022-2023
In parallel with the realisation of the sustainability linked credit facility, Greenyard has translated the longer-term targets into annual targets for each division, and ulti- mately for each entity. These annual targets on division and entity level are internal targets to enable more effec- tive steering towards our ultimate long-term targets in 2025 (reporting year 2025-2026) and 2030.
As of 2022, all KPIs are measured at specific locations or plants. Most KPIs are reported and followed up monthly, except when quarterly or annual updates are more rel- evant. The KPIs are uploaded in our reporting tool and verified by local business owners and the financial team. Reporting on progress is done at Group level. Within our sustainability reporting tool, it is broken down into coun- try, division and Group level. This reporting is discussed periodically with senior management and the Board.
Based on trend analyses, benchmarks and comparisons, appropriate conclusions and actions are taken to make sure we achieve our ambition levels. We are continuously improving our reporting process by – amongst others – introducing it in the budget process, further sharpening the analysis, updating the ESG improvement plans and working towards a fact-based ESG culture. The Group Sustainability Director and the CFO, along with their teams, work closely together on this ongoing improve- ment project.
The key targets of Greenyard’s Roadmap remain the same. When we indicate “by 2025”, we refer to the report- ing year 2025-2026. For our climate change targets, the baseline is different to be fully in line with our SBTi-com- mitments (Science Based Targets initiative). More details on our approach, progress and future plans are presented per topic within this report.
Climate change – adaptation and mitigation
We will realise a 50% reduction of Scope 1 and Scope 2
CO2-emissions by 2025, and 70% by 2030, from a 2020 baseline.
We commit that 70% of our suppliers (by spend, covering purchased goods and services, upstream transportation and distribution, and downstream transportation and distribution) will be working on having science-based targets by 2026.
Minimise food waste
We will reduce any avoidable food waste in our own production by 25% by 2025 and by 50% by 2030 from a 2019 baseline.
We will valorise all residual streams and by-product flows of our food production by 2025.
Lower the water footprint of fruit and vegetables
We will assess the water risks of all our growers by 2025
and set up projects to optimise water usage in our operations.
We will reduce our primary water use by 10% by 2025, from a 2019 baseline, and focus on lowering the water intensity accordingly.
Minimise the environmental footprint of our packaging
We will realise 100% recyclable packaging by 2025 and align our packaging with recycling schemes in key markets to ensure actual recycling.
We will reduce the amount of packaging we use and optimise our packaging footprint without reducing shelf-life (target to be defined in 2023).
We will use 30% recycled material in non-food contact packaging by 2030.
Ensure responsible and sustainable sourcing
We commit that 100% of our grower base located in high-risk countries will be certified for social compliance by 2025 and those in medium-risk countries before 2030. We will report on this in line with our SIFAV commitment.
Climate change – adaptation and mitigation
We will realise a 50% reduction of Scope 1 and Scope 2
CO2-emissions by 2025, and 70% by 2030, from a 2020 baseline.
We commit that 70% of our suppliers (by spend, covering purchased goods and services, upstream transportation and distribution, and downstream transportation and distribution) will be working on having science-based targets by 2026.
Everything’s gone green
By 2025, Greenyard wants to reduce its operational CO2-emissions – Scope 1 and 2 – by 50% compared with 2020. For 2030, we aim for a 70% reduction. “Procurement has an important role to play in the realisation of these ambitions. We’re on a tight schedule, but we’re all set to reach our 2025 targets,” says Adrien Gentile, Group Procurement Director.
“The lion’s share of our CO2-emissions come from the cooling, freezing and heating processes in our production entities, along with our transport and logistical activities. In 2020, electricity
accounted for about almost half of our emissions (42%), followed by natural gas (38%) and diesel (15%).
“Our initial focus was on the switch to green electricity. At the end of the financial year 2022- 2023, we have already secured the supply of the needed renewable electricity to achieve our 2025 plan on electricity lowering our Scope 2 emissions. We have gradually switched contracts that were up for renewal to green electricity on a country-by-country basis. In 2023, Poland and Germany will take big steps, with Belgium following in 2024. France and the United Kingdom, who have a low emission factor due to the high share of nuclear energy, will follow in 2030.”
“At the same time, we are re-evaluating investments in solar and wind power at our own sites – the energy crisis has opened new possibilities for revised business cases. We are also initiating contacts with companies that are making investments in offshore production. With the gradual introduction of electric trucks and the electrification of processes that currently run on natural gas, we expect our call for green electricity will continue to grow.”
Reducing our impact step by step
“We have been a member of the Floriculture Sustainable Initiative (FSI) since 2018, in which we collaborate with international partners on a responsible production and trade of flowers and plants. As part of this partnership, we initiated a project to calculate the CO2-footprint of the products we supply to our German customer,” says Chiel van der Kooij, Quality Management Lead at Greenyard Fresh Solutions Flowers.
“Using the toolkit that was developed by FSI, we are mapping the footprint of our products through the entire lifecycle – from the moment the seeds go into the ground to the moment they arrive at the store. This enables us to analyse the impact in each phase and gives us insight into the effects of different measures.”
“Following a baseline measurement in 2020, we can already see what progress is being made. In Europe, we can clearly see the effect of the energy crisis. Growers have taken drastic measures to reduce their energy consumption and have invested heavily in renewable energy sources. For our overseas products, we are investigating how we can remove the barriers to use more sea freight to further reduce our footprint. We have been looking into the use of cooled containers – the so-called reefers – and improved packaging to prevent product waste during the long trip.”
Minimise food waste
We will reduce any avoidable food waste in our own production by 25% by 2025 and by 50% by 2030 from a 2019 baseline.
We will valorise all residual streams and by-product flows of our food production by 2025.
There is no such thing as waste
Early 2023, Greenyard Fresh Belgium set up a partnership with Recycling Partners Belgium (RPB). “The aim is to make our waste and materials chain more sustainable by using advanced moni- toring tools and RPB’s extensive network of collectors and recyclers,” says Ann-Sophie Paesen, Continuous Improvement Engineer at Greenyard Fresh Belgium.
“Our main activities are in the convenience department where we are producing pre-cut vegeta- ble mixes for soups and other dishes, alongside a wide range of lettuce mixes. Everything starts with preventing waste at the very start, by ensuring incoming products are processed as soon
as possible. Our planners combine historical data with weather forecasts to accurately predict the actual demand from our customers, so that we have a good insight on how much we need to produce even before they send us their orders”
“Furthermore, we are also adjusting the machine transitions by incorporating funnels, spray- and/or blow systems to prevent cut vegetables from falling off the production line. Once these modifications are finished, we will ensure the use of a higher percentage of the valuable fresh vegetables we use as our input. We will assess and monitor all our waste streams, with maximum separation of all recyclable materials at the source. We will also be able to identify best possible collectors and processors for each stream. We plan to upcycle our green waste, which is now being processed in local biogas installations.
Our plastic waste, including large packaging foils and protective equipment we use during production, will be processed for further recy- cling by a specialised external partner.”
“But we’re also looking towards the future. The use of Artificial Intelligence may eventually help us to automate and optimise the cutting of the lettuce hearts to minimise waste. Recuperating rubisco, a very promising pure plant protein, from our green waste is another exciting ave- nue. So, we still have a lot of great projects to look forward to!”
Food waste – every kilo counts
“Preventing waste – and food waste in particular – is one of our main priorities. Everything starts with collecting accurate data. We are monitoring and measuring waste after the end of every shift. This gives us insight into where waste is generated and allows us to take the necessary measures,” says Piotr Ośwałdowski, Sustainability & Operational Excellence Manager at Green- yard Frozen Poland.
“This has already led to many improvements in our production processes – last year, we have been working very hard on machine modifications to avoid spills on our conveyors. These improvements range from small and quick fixes to more elaborate investments. We also call on our own people on the work-floor to make suggestions through Kaizen initiatives on where they see possibilities to avoid potential spills.”
“Furthermore, together with our Sales team, we are looking into recuperating certain off-grade products to be used in other products such as soups, juices or jams. This is an interesting option for product flows that do not meet our specific requirements in shape or size but are still perfect for human consumption. We also don’t shy away from the non-standard use of organic waste. For example, last year, we sold 200 tons of cherry pits to be used as an alternative fuel for heating.”
Lower the water footprint of fruit and vegetables
We will assess the water risks of all our growers by 2025
and set up projects to optimise water usage in our operations.
We will reduce our primary water intensity by 10% by 2025 from a 2019 baseline.
Water stewardship at Greenyard Fresh Belgium
Following a successful pilot installation in 2021, Greenyard Fresh Belgium and Pidpa, a Belgian integrated water utilities company, are now working towards an agreement to install an innovative water purifi- cation system in combination with the already existing on-site groundwater extraction. The next step involves obtaining the necessary permits to fully deploy this solution.
The new water system will reduce Greenyard Fresh Belgium's freshwater intake for cleaning and rins- ing by 75%, allowing them to reuse over 100 000m³ of water being purified and reused each year. The
purification system will also ensure that the water quality is equivalent to drinking water, which is crucial for maintaining food processing standards. Approximately 105 000 m³ of water will be safely filtered and reused, while the remaining 35 000m³ will be sourced from on-site groundwater extraction, with the option to switch to city water if necessary.
This project is perfectly in line with Greenyard’s commitment to lower its water footprint as part of their sustainability ambitions. By the end of 2025, the Group plans to decrease its primary water use by 10% compared to 2019.
Minimise the environmental footprint of our packaging
We will realise 100% recyclable packaging by 2025 and align our packaging with recycling schemes in key markets to ensure actual recycling.
We will reduce the amount of packaging we use and optimise our packaging footprint without reducing shelf-life (target to be defined in 2023).
We will use 30% recycled material in non-food contact packaging by 2030.
Ensure responsible and sustainable sourcing
We commit that 100% of our grower base located in high-risk countries will be certified for social compliance by 2025 and those in medium-risk countries before 2030. We will report on this in line with our SIFAV commitment.
W
hen developing our Sustainability Roadmap, we matched the material topics with the United Nations Sustainable Development
Goals (SDGs). We drew inspiration from the 17 SDGs, along with the UN Global Compact Principles and the Unicef Childrens Rights and Business principles. We nar- rowed our focus to five SDGs that directly correlate with our business and strategy.
Our role as a connector between consumers and farmers within the food value chain is an essential prerequisite for achieving success in both business and sustainability. This crucial aspect is clearly depicted in our Sustainability Model (see page 60), which highlights the integration of sustainability into our operations. A logical step, as we are a purpose-driven company that relies on products of nature and strives to improve life in everything we do.
As a global player, we recognise that everything we do has an economic, environmental and social impact. Our pure-plant product portfolio offers great opportunities as a category on its own. At the same time, we embrace our responsibility to care for our environment and ensure fair treatment within the entire food value chain. With our Strategy 2030 and our Sustainability Roadmap, we add value to society and meet global customer needs. This is also reflected in the SDGs we chose to focus on. A broader rationale for the selected SDGs can be found in the Sustainability section on the Greenyard website.
Promote healthy lifestyles with a diet based on fruits & vegetables.
Minimise food waste, create awareness on the need to transform our food system.
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Reduce our footprint and build a resilient food supply chain while fostering nature and respecting planetary boundaries.
Build a resilient and sustainable food chain
and promote sustainable agriculture.
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Environmental impact
78 / MESSAGE FROM OUR CO- CEOs | HIGHLIGHTS | GREENYARD’S RELEVANCE | FOOD OF THE FUTURE | PURE POWER OF PLANTS | DRIVEN BY PASSION & PEOPLE
C
limate change is a key material topic for all Greenyard’s stakeholders. While we know that a good biodiversity and healthy soil are important, our business relies on different
interconnected topics. Respecting nature’s complexity and value, we acknowledge that the food sector is operating beyond planetary boundaries. Even though fruit and vegetables have a relatively small footprint, it is still our duty to reduce our footprint and embrace our responsibility. Our Fork-to-Field approach connects all stakeholders in our value chain and enables a resilient, environmentally friendly business that benefits society and, in the end, nature as well.
O
n average, fruit and vegetables have a rela- tively low carbon footprint when compared to other food categories. To reduce our footprint
and respect planetary boundaries, we need to team up with all partners within the food value chain. Everything starts with our own direct emissions, caused by activities that are under our own control. Environmental footprint reductions are far more than just greenhouse gas emis- sions, although these emissions are a valuable metric.
Our approach
Greenyard reports the carbon footprint of its activities within the Group annually by calculating its Scope 1, Scope 2 and Scope 3 greenhouse gas emissions. We measure the performance of the most material KPIs of our Scope 1 and 2 emissions monthly. This enables our business entities to monitor and manage their footprint.
Our Scope 1 and 2 emissions cover our own operations (consisting of factories operated by Greenyard, but excluding co-packers), our own warehousing (consisting of distribution centres operated by Greenyard, excluding third-party warehousing) and our own logistics (con- sisting of fleets operated by Greenyard, including our company cars). Scope 3 emissions cover the sourced fruit and vegetables, third party logistics, packaging, waste, and business flights. The data is calculated, verified and reported in line with the GHG-Protocol.
For Scope 1 and 2 greenhouse gas emissions our tar- get is to reduce emissions by 50% by the end of 2025 from a 2020 baseline and by 70% in 2030. For Scope 3, Greenyard commits that 70% of its suppliers (by spend
covering purchased goods and services, upstream and downstream transportation and distribution) will have science-based climate targets by the end of 2026.
decreased Scope 1 and 2 emissions
on a like-for-like basis putting the overall reduction versus 2020 on 13%.
Our progress
This year, Greenyard’s Scope 1 and 2 emissions decreased by 9% on a like-for-like basis putting the overall reduction versus 2020 on 13%. We are making excellent progress in achieving our targets. This progress is mainly driven by the switch to renewable and low-carbon energy sources, and our continued focus on energy-efficiency, including lowering our gas-use. We also had lower fugitive emis- sions due to refrigerant leakages. This year, 16% of our electricity consumption came from renewable sources. Next to a switch to green energy we see the emissions of our lease car fleet improving due to an increasing number of electrical vehicles.
By 2030, Greenyard commits to reduce its Scope 1 and 2 greenhouse gas emissions with 70% from the same baseline. The Group is actively investigating several ini- tiatives to make the transition from natural gas to other energy sources for the steam and heat generation in the production plants of our Prepared and Frozen division. Today the production costs are still significantly higher for alternative energy sources (mainly via electrification) compared to natural gas. The significant impact of this
transition on primary processes necessitates early plan- ning of our efforts to achieve our saving targets by 2030.
By 2026, Greenyard commits that 70% of its suppliers will have science-based targets. Within the past year Greenyard did a survey with 350 of its largest suppliers. From this survey we concluded that currently around 12% of our suppliers have committed to set science-based targets and a larger group is actively working on climate mitigation. Next to this we see a growing share of our customers implementing SBTi-validated targets Addi- tionally, our procurement department has organised trainings with our buyers to help raise extra awareness on this topic. We have started to collect primary data from our suppliers (ca. 15%) to further improve the reporting of our Scope 3 emissions.
With a view to further assist our suppliers to calculate their environmental and carbon footprint, Greenyard is taking a leading role in the Freshfel Environmental Foot- print Initiative, an industry initiative to establish common rules, known as Product Environmental Footprint Cate- gory Rules (PEFCR). The methodology will be developed with the support of Wageningen Economic Research
Scope 1, 2 & 3 emissions (in tonne CO2-eq.)
:
Scope 1: 2,26% Scope 2: 1,66%
3
e
p
o
c
S
%
8
0
,
6
9
Scope 3:
Purchased goods & services: 59,45%
Upstream transport & distribution: 22,02%
Downstream transport & distribution: 13,71% 
Other*: 0,89%
* Includes fuel- and energy-related activities not included in Scope 1 and 2, waste generated in operations and business travel
in the next two years. Once developed, the PEFCR for fruit and vegetables will be available for sector-wide use as an open resource. In line with these developments, Greenyard started working with the LCA tool Glimpact to calculate its products’ footprint and identify the best levers for action to reduce their impact across 16 impact categories. We are convinced that the new methodology will help retailers to work even more on the sustainability of our category and that it will help to guide consumers to make healthier choices in their daily diet, without having to compromise on taste.
Taking into account the very long delivery times for elec- tric vehicles, the move towards a full electric car policy in our core markets is slowly starting to show on our parking lots. Today around 15% of our lease car fleet is fully elec- tric. . We anticipate a steady growth in the coming years as we are now exclusively purchasing electric vehicles. Our primary focus is on markets with accessible electric charging infrastructure, including the Netherlands, Bel- gium, the United Kingdom, France, Austria, and Germany.
Greenyard added a specific field in its CAPEX approval tool, which enables to include different sustainability
aspects in every CAPEX request. To facilitate the choice for more sustainable alternatives we work with an inter- nal carbon price of 100 euro per tonne CO2 which can be included in business cases. Most important to us is the awareness created by this approach within our entities, as well as the extra information they provide with invest- ment requests.
In line with TCFD and future CSRD requirements, Greenyard is preparing a follow-up on last year’s quantitative sce- nario-analysis of its supply chain. After an initial trial on the grape supply chain, this year’s exercise will focus on the key production regions of our processing opera- tions throughout Europe. The production regions will be analysed against the rcp45 and rcp85 scenarios both for 2030 and 2050. The conclusions bring extra substance to the insights of our agronomists and will assist the sourc- ing teams for the medium and the long term.
We will continue to invest in these scenario analyses to support our sourcing strategy. We will focus on specific areas and product groups step by step. The analysis for our Frozen and Prepared divisions will be completed dur- ing summer and featured into the forthcoming sustain- ability report.
Scope 1 & 2 emissions (in tonne CO2-eq.)
by division (market-based approach)
by source (market-based approach)
42,1%
Other: 0,1%
22,3%
39,3%
38,4%
38,4%
4,4% 15,0%
Fresh 
Frozen
Prepared
Scope 1 – Stationary combustion 
Scope 1 – Mobile combustion
Scope 1 – Fugitive emissions 
Scope 2 – Electricity
Future plans
Greenyard’s ambitions and targets are defined in our Sustainability Roadmap. The targets for the financial year 2025-2026 are clear, and in reach with the current progress. Further transitions to renewable and low-car- bon energy are or will be contracted in the coming years. We also actively investigate new projects to maximise on-site renewable energy production. As most locations are leased, this is done in close cooperation with the real estate owners, with Greenyard as the off-take partner for the produced energy via a power purchase agreement.
For Greenyard’s Long Fresh division, we are investigating alternative fuels and electrification of processes with the aim to switch to alternative steam generation for the peeling and blanching of vegetables and the pasteurisa- tion process within our Prepared division. The investiga- tion, this and next year, is needed to reach Greenyard’s future target of 70% reduction by 2030. To speed up this process, government support could bridge the current gap on cost compared to natural gas. In the Netherlands this is already the case. Greenyard is an advocate that governments investigate similar regulations in other countries as well.
Within our transport activities, alternative fuels will be accountable for most of the savings towards 2030 and beyond. Certain regulations are likely to enhance the adoption of these new technologies, and there are gov- ernment initiatives aimed at supporting this transition. Additionally, we will explore other interventions such as specific tire options and driver behaviour training.
For our cold storage, we focus on replacing older machine rooms whenever it makes sense from a technical and an economical perspective. This will ensure we replace cool- ing engines that still use refrigerant with a high global warming potential in the coming seven to ten years.
Building upon a first survey in the past financial year, we will further engage with suppliers to grow the number of suppliers committed to science-based targets. To this end, Greenyard is also supporting initiatives that provide farmers with tailored advice in this domain. Over the next three years the Klimrek-T project will assist Belgian farm- ers with climate and water scans to identify improvement areas and assess the financial and practical feasibility of climate adaptation and mitigation measures.
As the SBTi finalised its guidance for FLAG-targets earlier this year, we have started to measure our biogenic emis- sions in the supply chain and plan to submit our target for validation by the end of 2024. We will consider submitting a net-zero target for validation simultaneously.
T
he food production processes at Greenyard Pre- pared and Frozen use considerable amounts of fresh water. The same goes for our Convenience
production lines at Greenyard Fresh Belgium, where we produce fresh-cut vegetables and salads. At other loca- tions, like in our distribution centres, the water consump- tion is far lower. The water is used to wash, transport and process our products and produce steam for peeling, heating or preservation.
While Greenyard primarily focusses on internal water use, the availability of fresh water throughout our value chain is equally essential for the cultivation of fruit and vegetables. Within the chain, we map the water risk in the different areas where we grow our products. Under- standing our water risk is key to optimise our footprint and where needed adapt the way we source our products.
Our approach
The cost of water, compared to that of energy or raw materials, is low. This sometimes makes it difficult to build a sound business case from a purely economical perspective. Greenyard takes its responsibility to reduce water usage from a strategic perspective, as we under- stand the true value of fresh water. Within our opera- tions we focus on the optimisation of water usage and on cleaning and reusing processing water.
We measure water consumption and water discharge at all our sites. At sites where water usage is material, it is a standard procedure to take measurements on a daily basis. Constant monitoring ensures the quality of water effluent discharge is always in line with the standards of local regulations and permits.
Greenyard uses the WWF Water Risk Filter to assess the water-related risks of the different processing sites. Only one site, which depends for 90% on municipal (drinking) water and 10% on groundwater, is located in an area which is labelled as a water stress area (WWF Water Risk Filter water scarcity score >3). This site’s consumption accounts for around 3% of Greenyard water withdrawals. For this specific location, Greenyard started a project to enable the reuse of up to 75% of the processing water, saving significantly on the withdrawals. All other sites are in areas with low water stress. We aim to reduce our primary water use by 10% by 2025 from a 2019 baseline and achieve similar savings in water intensity.
It is important to understand that Greenyard has absolute water reduction targets while its production can fluctu- ate. We are therefore measuring water intensity and also investigating to set targets on this. For example, weather conditions can cause a more complex harvest season resulting in smaller batches and more cleaning of pro- duction lines, which causes a higher use of water. Other types of products will influence water usage just as well.
By mapping our growers and using the WWF tool, Green- yard gives its sourcing departments insight into potential supply risks and creates awareness around this important topic. While we are strong at mitigating supply risks, thanks to our global sourcing capabilities, we acknowl- edge our responsibility to safeguard sustainable water usage throughout our supply chain. Around 34% of the volumes sourced by Greenyard originate from countries with water stress (WWF Water Risk Filter water scarcity score >3). When water is managed in the right way in relatively dry areas, this can be the best environmental choice for some products. Dryer areas in general have a lower pest pressure resulting in lower use of crop protec- tion products. We seek to support growers to work more efficiently and assist with certification where needed.
Greenyard discloses its water-related risks and impact in detail under the terms of CDP (water security) and we have received the score B in 2022.
reuse of processing water
LOI with Pidpa (a municipal watersupplier) to work on the design and permits for an on-site water purification plant
Our progress
This year, Greenyard consumed 3,99 million m³ water in its own operations, a decrease by 4,2%. This reduction can mainly be attributed to lower processed volumes and an increased emphasis on conserving water. Smaller batches in production, due to a very dry summer period, did demand extra efforts in production. Considering our expectations and the goals set for 2025, we find the cur- rent savings to be in alignment. Greenyard has taken the next steps in major water reuse projects within both our Frozen and Prepared divisions, as well as within Fresh Belgium.
For the Fresh Convenience operation in Sint-Katelijne- Waver, we signed an LOI with Pidpa (a municipal water supplier) to work on the design and permits for an on-site water purification plant to reuse up to 75% of the pro- cessing water. For our Belgian Prepared and Frozen sites, we are investigating options together with suppliers and industry experts. For the sites of our Frozen division in the United Kingdom and Poland we also took actions to lower the water use.
Greenyard has committed to map the water risk for its entire grower base by 2025. During our fourth year the focus was on various Greenyard Fresh business entities, bringing the coverage to 85% of our suppliers. Steady progress is expected in the next years, reaching 90% next year and 100% by 2025.
Greenyard takes part in the Sustainability Initiative for Fruit and Vegetables (SIFAV). Under SIFAV, all private sec- tor partners commit to actively promote best water prac- tices, water use efficiency, and collective action in three jointly selected catchments. Ica in Peru was selected as the first catchment for collective action. Next to aligning our approach to support responsible water management, Greenyard and four other SIFAV members and the SIFAV Secretariat have, with co-funding of IDH, decided to move towards action and fund several engagement activities with Ica suppliers and the wider group of SIFAV partners in Europe.
Moreover, a pre-selection of possible projects that contribute to the resilience of the Ica catchment was presented in March, from which the infiltration ditches upstream in the Ica catchment was selected for develop- ing a full project plan.
Water consumption (m³) by division
33%
59%
8%
Fresh 
Frozen
Prepared
Overall water risk Greenyard volumes
(based on score country of origin)
2%
59%
39%
Future plans
In the coming years, Greenyard will focus on locations with the highest water usage to further develop the defined projects. More specifically, these are our Pre- pared site in Bree and our Frozen site in Westrozebeke, both situated in Belgium. In the coming year, this should lead to more specific plans and business cases for these projects. Next to this, all other Frozen locations will inves- tigate saving and reusing water. We are rolling out similar plans for some smaller water reuse or saving projects.
The engineering, permitting and contracting phase for the water purification plant for Greenyard Fresh Belgium will be done within the next financial year. This should lead to a final decision on the realisation of this plant.
Greenyard will continue its progress on its grower map- ping and will roll out the implementation of water stand- ards across the group. Within our participation in the Sustainability Initiative for Fruit and Vegetables (SIFAV) we are already working on the implementation of water standards for 70% of volume from high water-risk coun- tries towards 2025. The SIFAV basket of standards was agreed last year, along with the list of risk countries. Else- where we look forward to supporting the execution of the Ica catchment project, provided the funding among the different project partners can be agreed in the coming months. It would be the first multi-value chain project managing shared water risks.
Low risk (≤ 2,33)
Medium risk (> 2,33 and < 3,66) 
High risk (≥ 3,66)
More than
of packaging is recyclable
G
reenyard focusses on avoidable food waste and is committed to reduce all avoidable food waste to a minimum. The same goes for other waste
streams such as packaging materials. Preventing waste of perishable goods can be challenging, and packaging can be a sensible solution for certain products. Factors such as weather conditions during growth and harvest can influence the quality of the goods and with that raise the risk of potential food waste. Given these limitations, we are convinced our business model is the best possible way to prevent food waste. With our Integrated Customer Relationship model (ICR), we establish an efficient con- nection between our customers’ demands and the actual production of fruit and vegetables by our growers. This collaborative approach allows us to maintain in close contact and act as a connecting partner between vari- ous value chain partners, before and during the growing season.
Our approach
Greenyard has waste collection systems at all its operat- ing sites which comply with local legislation and related standards. Our primary focus lies in waste prevention, together with our customers and our suppliers. We strive to maximise recycling or valorisation and ensure the closure of material loops for all waste streams. This is the case for all other regular waste types such as cardboard, paper, plastics, residual waste, as well as for bio-waste and by-products.
At Greenyard, we have separated the reporting of our by-product streams from food waste this year. Particu- larly for larger by-product streams, we already have sustainable solutions to transform them into feed. Addi- tionally, we are exploring alternative options to maxim- ise the value of these streams. Most of our by-products stem from the processing operations of our Frozen and Prepared divisions, encompassing peelings from carrots, potatoes, and peas, among others. If these by-products are unsuitable for human or animal consumption, they are diverted towards bio-fermentation or composting. If we have any overstocks (due to lower-than-expected demands for example) that cannot be sold to custom- ers, we always try to ensure this is kept within the food chain for example by delivering them to food-processing companies or to food banks. In the past year we donated around 4 million kilograms of fruit and vegetables to food banks and charities.
Our Fork-to-Field approach is a first and important base- line to optimise the value chain and prevent food waste. This approach works best in strategic partnerships with customers, where all relevant data is shared. By compar- ing these models, we can determine that our most com- prehensive ICR models have the lowest amount of food waste within our portfolio. Therefore, we try to convince our customers as much as we can to team up with us to implement customised ICR models.
Our progress
In the past year, Greenyard generated around 193 000 tonnes of by-products and waste, this is a decrease of 2% compared to last year. Around 58% of this is re-used. The main destination for these by-products is animal feed. To further grow our recycling efforts and volumes, we collaborate with specialised waste management com- panies. Sometimes, recycling options are hindered when materials that are usually recyclable – such as paper, carboard, and plastics – have been in contact with food. Good internal collection systems are crucial. We have put extra focus on the quality of separate collection on the floor and will continue to do so. This includes simple adjustments like harmonising the colour of the waste bins or provide instructions in multiple languages and with pictures.
38,6%
(Food) waste
0,3%
3,1%
Waste to be re-used Waste for recycling
Waste for energy recovery
58%
Greenyard continuously investigates new options to pre- vent food waste, including tests with forecasting tools. This is not an easy one for fresh produce, as it is perish- able, and quality depends on a lot of different parame- ters. Next to this, the demand is influenced by different parameters such as weather, events, and promotions, which are easier to predict using forecasting models. Dur- ing the testing phase, our organisation relies on internal planning and forecasting departments to make informed decisions. Moreover, the scheduling of employees for order-picking, packing, and transportation depends on accurate forecasting of demand and supply as well.
Landfill or incineration without energy recovery
15,8%
Packaging material mix (by weight)
7,4%
In the past year, Greenyard continued trials with differ- ent shelf-life extension technologies. Various types of coatings were tested, some of which have shown prom- ising results. However, it is important to note that these technologies come with additional costs which must be compensated by a longer shelf-life. Additionally, we have been focussing on measuring the potential shelf-life of fruits based on their characteristics, allowing us to give better advice on shelf-life to customers. The combination of our efforts should result in a further reduction in the coming years.
61,7%
Plastic packaging Corrugated board packaging Metal packaging
Glass packaging
15%
Aside from food waste, Greenyard aims to have 100% of its consumer packaging recyclable by 2025. Most of the packaging is prescribed by our customers. This year, we used about 65 532 tonnes of consumer packaging for our products. The main packaging materials consist of plastics and cardboard in the Fresh division, plastics in the Frozen division, and steel cans and glass in the Prepared division. Further efforts in using recyclable packaging alternatives result in a share of recyclable consumer packaging of 99,5%.
The only packaging that Greenyard currently uses, which is not 100% recyclable, are the stand-up pouches for soups and sauces. This type of packaging is increasingly popular because of its low weight, which results in a better foot- print concerning transport. We are convinced that within the coming years packaging producers will also find sus- tainable solutions for the pouch packaging. Greenyard is actively participating in a number of trials for this.
Future plans
Greenyard will continue the pre-mentioned projects on forecasting demand and supply. Within the coming finan- cial year, we will map characteristics of different waste and product flows even better to understand and find possibilities for valorisation. Elsewhere we are closely following research projects initiated by Wageningen Uni- versity and Flanders Food aimed at developing toolboxes to assist food operators in reducing food waste.
On packaging we expect the stand-up pouches research project, which we started in 2022, to be finalised. Mean- while we have joined the TACTIC research project led by Pack4Food and Flanders Food focusing on assessing and communicating the sustainability of packaging. We stay committed to use 100% recyclable consumer packaging by 2025. Furthermore, we will also investigate upcoming EU and national legislation on plastic packaging in rela- tion to food and fresh fruit and vegetables in particular. When we use packaging, we use it to protect the products and to ensure a better shelf-life. While Greenyard sup- ports the vision to use as little packaging as possible, it is important to ensure this does not affect shelf-life and generate additional food waste. We believe policy makers should focus on minimising food waste while maximis- ing high-quality recycling of packaging (either through selective collection methods or via recycling technology). This could have a better effect than to focus solely on lowering the amount of plastic packaging.
Greenyard has already achieved its goal of having 30% recycled content in (non-)food packaging by 2030. In fact, the percentage of recycled content in both our metal and glass packaging is even higher. Nevertheless, we will investigate new goals in coming years, working towards 2030 and in line with EU policies.
organic
A
ll of the approximately 2,6 million tonnes of fruit and vegetables Greenyard sources worldwide each year, are compliant with regulatory require-
ments in the EU and the country of origin. Every piece of fresh produce that enters our value chain should there- fore be produced in a sustainable manner. We acknowl- edge that the sector can further improve, particularly in the area of biodiversity (resulting in further optimisation of the use of fertilisers, crop protection and water).
Our approach
Greenyard requires growers to adopt good agricultural practices and obtain certifications, including GlobalGAP and FSA. These include integrated pest management in which best practices and new regulations continue to evolve. Based on more stringent regulations we also see innovative products in terms of biological control and more pest resistant varieties. While Greenyard does not own any farmland itself, it does play a connecting role between the various stakeholders, for example by teaming up with suppliers to test new varieties or more sustainable products.
A lot of the growers Greenyard works with are already partners for a long term. For both Greenyard Frozen and Prepared the connection to growers is often established via contract growing. In the case of our Prepared divi- sion and for some locations of our Frozen division this is organised via a producer association. This enables us to help improve agricultural practices, share best practices and collaborate with growers to improve product quality and ensure availability, especially regarding crops that could be more impacted by climate change.
Within Greenyard’s Fresh division, we have many long- term Integrated Grower Relationships with both producer groups and individual growers. We expect growers to align with relevant standards but leave the production as such
to the growers. Within our total pool of growers, we also support programs to transform towards more regener- ative, sustainable or organic farming. The cooperation can go as far as establishing dedicated producer groups to further develop organic production for international markets,or improve quality and production standards as we did in Italy. In some specific areas – such as Latin America and Africa – we engage (often together with part- ners) in capacity-building with smallholders by informing or educating farmers to prepare them for certification.
Greenyard commits to zero-deforestation in its supply chain by 2025. While deforestation risks for fruit and vegetables are generally considered as a low to medium risk, Greenyard is mindful of any risks related to deforest- ation. It could be argued that packaging materials like paper and cardboard may have an impact on deforest- ation. Although packaging is often prescribed by our customer, we focus on utilising FSC, PEFC or similar certi- fied paper and cardboard. Greenyard discloses its forest- related risks and impact in detail under the terms of CDP (forests) and it received the score C in 2022.
Our progress
Within the current market we see some pressure on organic sales within retail. Still, we can report that our own share in organic remains stable, representing around 7% of Greenyard Fresh volumes and more than 4% of Greenyard Prepared and Frozen volumes. Despite organic produce having a clear standard and description today, we also notice and acknowledge that conventional produc- tion is increasingly focussing on sustainable agriculture.
Greenyard is developing a biodiversity policy together with its agronomy experts. We have decided to take extra time to develop this policy and to publish a first version in 2023. That way we will be able to take along the learnings from our participation in the Biodiversity Action Lab of
The Shift in Belgium, the many tests and projects we have been involved in over the past few years, and the Better for Nature & Farmer program that we actively support in The Netherlands.
Over the past year, there have also been various tests and initiatives regarding sustainable agriculture. These include assessments of soil quality, implementation of precision farming techniques through digital tools for mapping and providing guidance to farmers, as well as testing with new varieties. In response to customer demands and intensified regulations, Greenyard is setting up initiatives to minimise the usage of crop protection and fertilizers in various projects. Elsewhere biodiversity, deforestation, soil degradation and the use of fertil- isers and pesticides are included in the risk assessment framework which form an integral part of Greenyard’s sustainability due diligence approach.
Future plans
An important part of Greenyard’s future plans is to develop a biodiversity policy and set up the measure- ments that are needed to manage this policy. The policy
as such is now set for 2023, measurements are to be in place in the next two years. Moreover, we plan to set sci- ence-based targets for nature (SBTN) by 2025.
As we already make use of the WWF Risk Filter to map our suppliers in terms of water risk, the recently added feature to assess biodiversity risk will enable to gain fur- ther understanding of the biodiversity risks in our supply chain. We will disclose our supply chain’s biodiversity risks as from next financial year.
We will continue working on various joint programs with our customers, such as the Better for Nature & Farmer program in The Netherlands. Additionally, we will expand this way of working towards the broader supply chain for fresh produce. In Greenyard’s Long Fresh segment, we will continue to work closely with farmers and grower associations.
Our biodiversity policy will continue to focus on prag- matic ways to move towards regenerative agriculture. This should ensure a sustainable food chain and a good match between ecology and economy. The digital tools we are currently testing, should ultimately result in a more standardised way of working with our growers in our Long Fresh division.
ORGANIC FARMING
Biodiversity – using
the power of our natural ecosystem
Andreas Nesseler is a German farmer who has been growing peas for Greenyard Prepared for many years. A couple of years ago, he decided to make the shift to organic farming. “I am running the farm together with my son, who convinced me to make the switch, following his positive experi- ences with organic farming during his education.”
“We had to completely rethink the way we did things. The importance of biodiversity is huge – we completely depend on our ecosystem to feed the
soil. Your farm suddenly looks very different, with smaller fields to change crops faster and the presence of bee hotels, flower beds, small trees and sandheaps. It’s a bit like going back to the way people did things in the past, but it’s a great
sight to behold when I make my daily round on my bicycle.”
GEOTHERMAL ENERGY
Geothermal energy for sustainable tomatoes
Harting Holland is a family-owned tomato green- house in the Westland region of the Netherlands and has been a long-time supplier for Bakker Barendrecht, a Greenyard company. Since 2014, they have been using geothermal energy to pro- duce heat for its greenhouses, saving almost 10 million m3 of gas every year, the equivalent of 18 000 tonnes of CO2.
“As a family business we are always taking a long- term view to safeguard a sustainable future for our business. We started looking into geothermal energy as early as 2008, when our sector was con- fronted with an energy crisis, very similar to what has happened recently in Europe. It became very clear we needed to phase out our dependence on fossil fuels,” says business owner John Harting.
“Together with our neighbour grower, we drilled a geothermal well of 2 500 metres deep into the porous layers of an old sand riverbed running below our respective sites. The water, which has a
temperature of 87 degrees at this depth, is pumped up and fed through heat exchangers, which allows us to heat the greenhouses with clean fossil-free energy. The cooled water is then pumped back into the earth, where it is reheated over time. Today, about 90% of our heat demand is covered by geo- thermal energy. We only use other energy sources during the coldest periods of the year.”
“Since then, many other geothermal sources have been developed in our region, with plans to develop a connected heat network where energy can be shared between businesses and even used to heat the homes of families from nearby villages and cities. This perspective makes us even more proud of our pioneering work.”
92 / UNLEASHING THE PURE PO WER OF PLANTS
GREENYARD ANNUAL REPOR T 2022/2023
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Social impact
94 / MESSAGE FROM OUR CO- CEOs | HIGHLIGHTS | GREENYARD’S RELEVANCE | FOOD OF THE FUTURE | PURE POWER OF PLANTS | DRIVEN BY PASSION & PEOPLE
A
n important social aspect of our sustainability strategy is ensuring the availability and affordability of the healthy products that we bring to the market, whether in fresh, frozen or prepared
format. Through the active promotion of fruit and vegetables, we stimulate consumers to increase the share of fruit and vegetables in their daily diets. This benefits their own health and results in lower healthcare costs in the long run. To do our part, we constantly keep in mind the accessibility and convenience of our products, ensuring the healthy choice is also the easy one.
Ecology (environmental impact) and affordability can be a balancing act in the short term. Greenyard acknowledges this and teams up with farmers to support their compliance efforts, always keeping the long- term benefits and needs in mind.
More and directly tangible are the social aspects happening today and impacting all people involved in our food supply chain. We have
established our policy in this respect with our internal Code of Conduct and our external Supplier Code of Conduct. We prioritise fostering an environment of respect for all individuals involved in the food value chain, placing particular emphasis on ensuring safe working conditions and fair wages. We expect that those collaborating
with us, directly or indirectly, adopt a similar approach, and we exclusively engage
with suppliers who comply to social laws and regulations, and commit to enhancing their performance
in this regard.
G
reenyard expects all its employees to value and respect anyone who works with us, safeguard human rights and be conscious about any impact
our activities have on the environment. These expec- tations have been listed more explicitly in our Code of Conduct and translated for our suppliers in a Supplier Code of Conduct which was introduced in 2022 and is being rolled out in 2023.
Greenyard actively focuses on social standards, responsi- bility, transparency and traceability, in close collaboration with growers and suppliers. We consider certification on social standards as a first and important line of defence. We are further embedding the safeguarding of human rights with regards to risk analysis and due diligence. This is done in line with our own values and guided by the upcoming EU Corporate Sustainability Due Diligence Directive (CSDDD) and the increasing demands from our customer.
Our approach
Our company sources more than 2,6 million tonnes of fruit and vegetables worldwide each year. Around 47% of our volumes originate from high- and medium-risk coun- tries (SIFAV classification based on World Governance Indicators), driven largely by overseas volumes from the Fresh division. We have the clear ambition to get 100% of our grower base in high-risk origins certified for social compliance by 2025 and in medium-risk origins no later than 2030.
While we actively push for social compliance as a pre- requisite for doing business with us, we also want to give growers time to work on their certification(s). Actively working towards full compliance is very important, as is the willingness of suppliers to acknowledge and report shortcomings. Within our Supplier Code of Conduct we do request all current and future suppliers to confirm their
certified growers
compliance with international and national employment legislation and to adhere to the international instruments dealing with human rights, children’s rights and responsi- ble business conduct.
As established in the way of working we developed within SIFAV, we are using a risk-based approach. Within SIFAV a clear list of comparable standards is agreed with all part- ners requesting more stringent certifications in high-risk countries compared to medium-risk countries. We ask our suppliers to assure social compliance using assess- ment tools and certification schemes included in the SIFAV basket of social standards (including GRASP, Rainforest Alliance and SA8000).
A broader Group Sustainability due diligence approach is under development. It is based on OECD Guidelines for multinational enterprises and will be compliant with the German Supply Chain Due Diligence Law and the upcom- ing EU CSDDD. This approach looks beyond the human rights impact in the food supply chain and also includes the environmental impact, both with food suppliers and other suppliers (including transport and packaging), as well as our own operations.
Our progress
Today about 82% of our growers based in high-risk coun- tries are certified on social compliance, on track with our target of 100% by 2025. For medium-risk countries the share is also around 79%, with an action plan being rolled out in our Polish operations to gradually increase the number of certified growers over the coming years. Combined this leads to a little over 80% certified growers in high and medium risk countries. Fair Trade represents about 2% of Greenyard Fresh volumes, in line with the overall market. The number also reflects what our cus- tomers request us to source.
Following the introduction of our Supplier Code of Con- duct last year, we are further shaping our sustainability due diligence approach. We developed a risk identifi- cation and assessment framework for food suppliers starting with the entities supplying the German market. Within the framework of SIFAV a risk assessment meth- odology and an online tool have been developed covering 18 ESG risk domains which we use as a basis for our risk analysis. Greenyard also joined SEDEX as a buying mem- ber at Group level enabling further risk assessments for our non-food suppliers and our own operations.
Preventive and mitigation measures have been identi- fied for the relevant risks. These will be further formal- ised as part of our Group sustainability due diligence approach and where relevant also in our Supplier Code of Conduct. While certifications play a key role in our prevention measures, we also conduct on-site visits and, upon request from our customers, second-party audits with our suppliers to gain first-hand experience of their growing practices and working conditions. We have also conducted a trial to conduct third-party sustainabil- ity audits with suppliers to ensure the effectiveness of our due diligence approach. Elsewhere a comprehensive training package from EcoVadis Academy is being rolled out among all Sustainability Ambassadors.
Projects to improve living wages and income for farmers projects have been carried out in close cooperation with retailers. We do need the help of retailers to keep these
projects alive and further develop methods to ensure that the extra income of living wage projects go to the workers on the different farms.
We have visited the Global Child Forum (GCF) conference to learn from other companies on this topic and how this can be integrated in our policies on human rights. We have always considered children’s rights as an integral part of human rights but decided upon the learnings from conversations with GCF to also take in the context of the UN Convention on the Rights of Children (CRC) and the UN Children’s Rights and Business Principles as an integral part of our Supplier Code of Conduct explicitly. An important part we learned from discussion with GCF and other companies is the broader view on Children’s rights. Where we have always put focus on human rights in general and the prevention of child labour we will work more on the broader view of workers and their families, education and the positive impact of our products on human health.
Future plans
We plan to finalise our Group Sustainability due diligence approach over summer and take along the learnings from the German Supply Chain Due Diligence Law (LkSG) implementation as of 2023. Greenyard is in the process of rolling out a new supplier approval tool (Agriplace) to assess our growers in a standardised way. The first coun- tries using this tool supply the German market where this will be used to monitor compliance with risk prevention and mitigation measures, in line with the LkSG.
SUS TAINABILIT Y STRATEGY
Social compliance:
beyond ticking all the boxes
“Ensuring social compliance within our supplier base is a crucial part of Greenyard’s sustainability strategy. At Bakker Barendrecht we have made a clear commitment to have 100% of our volumes sourced in high-risk countries compliant to the BSCI social standard or equivalent, and those in medium-risk countries before 2030. With well above 80% of growers in high-risk countries already certified across all suppliers to Greenyard, we are well on our way to reach our 2025 target,” says Frank Brinkman, Strategic Sourcing Expert at Bakker Barendrecht, a Greenyard company.
“At the time we started to work on social com- pliance for suppliers in medium-risk countries, we first looked at the definition of medium-risk
countries. We decided to go beyond the definition as set out by the United Nations. Recent reports have found malpractices in many allegedly low-
risk countries, even within the European Union. The situation is especially precarious in countries where many migrant workers are active, as they are often dependent on their employers not just for their income but for their housing as well. That’s why we are adding a larger number of countries to our medium-risk list.”
“Moreover, we believe the audits and assessments that are being carried out should be more than just ticking the boxes in a checklist. In specific cases, on top of social audits, more in-depth assess- ments by third-party organisations are carried out. Including observations in the field and surround- ings of companies and interviews with workers and other stakeholders. It’s the only way to make sure the paperwork matches what actually happens in the field.”
F
ruit and vegetables bring a great combination of high nutritional value, fibres, minerals and vitamins that are essential to our well-being. The recom-
mended daily consumption of fruit and vegetables as published by the EU, national policy makers as well as science partners, is significantly higher than the aver- age intake per capita. This means there is a good match between sustainability and economy for Greenyard, as there is growth opportunity with a positive impact on health and well-being, if the consumption grows via our customers (retail and food service).
The EU Green Deal promotes sustainable food consump- tion and a shift towards healthy, sustainable diets. A diet with less red and processed meat and more fruit and vegetables will not only reduce the risk of life-threatening diseases, but it will also reduce the negative environmen- tal impact of food production systems.
Our approach
Our job is to ensure fruit and vegetables are available and affordable to all and are well presented, ensuring the healthy choice is also an easy and convenient choice. By offering our customers full category management and a strong product range in Fresh, Fresh convenience, Frozen and Prepared we team up with them to grow the category. We offer a year-round attractive assortment in Fresh, including meal-kits, fresh-cut vegetables and salads. Our Prepared and Frozen divisions turn fruit and vegetables into convenience products, always available, independent of the season.
In ready-to-heat meals within our Frozen and Prepared division the meals are seasoned and can include salt, sugar or fats. Here we continue our efforts in further reducing sugar levels in new product and recipe develop- ments, in close cooperation with our customers.
Greenyard also takes part in initiatives to promote pure- plant proteins as we are able to produce these products that have a positive impact on health and sustainability.
Our progress
We do not have a specific KPI on Nutriscores. As a pri- vate label company, we develop recipes together with our customers which is always a combination of taste, nutrition value, quality and price. A (high) Nutriscore is usually part of this.
Within our Fresh division all fresh products would get a Nutriscore A, as these products are 100% pure-plant. In our Frozen division, the majority of products has an A-score as they are only shortly blanched and fro- zen directly after harvesting and washing. Most of our ready-to-eat meals or combinations have either an A- or B-score. Some products – mostly those which include a cheese-type or creamy sauce, or cream soups – will still be a Nutriscore C. We are looking into various ways to also improve the scores on these specific products, for example by rethinking the recipes where possible. Within our Prepared division this will also be the case for some specific sauces and dips.
of revenues
originate from fruit & vegetables
Greenyard signed a five-year partnership with We’re Smart, the world’s foremost culinary reference for fruit and vegetables. For the next five years, both companies will further accelerate the active promotion of sustaina- ble and healthy eating, through the pure power of plants. They will join forces to encourage consumers around the world to make smarter food choices and at the same time reduce their carbon footprint. In their joint ambition to accelerate the transition towards healthier diets for all, they will support consumers by, amongst others, sharing easy to create pure-plant food experiences through a variety of channels as well as collaborating on pure-plant food innovations in the coming years. A first initiative was the launch of a new Instagram-channel, @greenyard.stories, to inspire end consumers on how to create delicious, more sustainable and healthy meals.
Future plans
We will continue to promote the consumption of fruit and vegetables, both via our own channels and in close cooperation with our customers.
Through voluntary efforts and covenants with authori- ties, the industry has systematically reduced the amount of added salt and sugar, making these products healthier. An important challenge is to ensure the taste remains at a similarly high level. Most of these product adjustments have been done already in the past years, and we will con- tinue to invest time and effort in new and better recipes.
While the choices for specific products are always made in close cooperation with our customers, we aim to start reporting on the Nutriscores of our products in the com- ing years knowing already that a high percentage will be in A- or B-scores and the ones in C or lower will take efforts to change.
We expect to further expand our product range with healthy, accessible, and convenient products. In May 2023 Greenyard expanded its pure-plant product range with the acquisition of the Dutch – Italian start-up Gigi Gelato. A game-changing brand that pairs fruit and veg- etables in innovative ways, to create a healthy alternative to the traditionally indulgent gelato. Gigi Gelato offers a pure-plant food experience, with no dairy, additives, or artificial aromas.
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reenyard offers a wide range of formal and infor- mal training programmes to its employees and this in the local entities as well as on Group Level.
Training of our employees needs to ensure is essential for enhancing skills, improving productivity, fostering employee satisfaction, adapting to change, ensuring quality, mitigating risks, and promoting career devel- opment.
During the COVID period, we got acquainted with many new ways of working. We collaborated more online or where possible in a hybrid format with part of our employees working in our offices and others from home. We identified a risk of becoming less attached to the company working this way, and increased communi- cations and introduced specific programs for talent and leadership development across the different divi- sions. Live meetings with our senior management were resumed, to further boost connection and cooperation.
This year we report an average of ten hours of training for each employee. This may seem like a low number, but it excludes the many knowledge sharing sessions for specific roles across the divisions and entities, such as sustainability or quality functions. We also put extra focus on giving different departments and teams the possibility to present their strategy and goals in meetings with other departments and colleagues.
To attract and retain our young talent, we have a trainee- ship in one of our divisions. This comes with an extensive program for young graduates and enables them to do a few different assignments during a period of almost two years. We aim to take the learnings of this program and develop similar approaches for other divisions.
nationalities
Diversity of
our management
79% 21%
Diversity & Inclusion
Greenyard respects diversity in all its forms – nationality, religion, culture, language, age, gender and sexual prefer- ence – and ensures equal opportunities for all its employ- ees. We focus on the evolution towards a gender balance at all levels and at retaining employees across all age categories by providing a supportive work environment. As a global player in fruit and vegetables, Greenyard’s workforce is socially diverse with more than 80 different nationalities working in the various divisions.
If we consider our top management, we aim to have managers with a strong background on specific topics or within our sector. At the same time, they should be result-oriented while understanding of the importance of well-being and development of our people. Being a people-oriented company goes hand in hand with being performance-driven as long as we empower our people to be able to perform to the best of their ability. We also want our organisation to be a safe haven, where people find trust and support.
Looking at diversity and inclusion within our top man- agement and senior management we have two main conclusions. Looking at the smaller group of directors
who report to our CEOs and our CFO we can only conclude that we need to give more attention to this topic as this group consists of mainly Western-European males. We do have a good variety in different ages. At other levels of the organisation, we do already have a better mix and a reasonable balance between male and female managers. Within our headquarters, which needs to be a connect- ing link to all our entities, we have a diverse workforce and a good mix of gender, nationality and age. Here the international character of our company is well reflected. Being situated close to Brussels and Antwerp with a lot of international workers helps to find the right people.
As diversity and inclusion are important to us, we will further develop a strategy to ensure that we have the right balance within the management of our company. We aim to work towards a better balance with the top layers of our organisation. Greenyard also aims to be an active provider of social employment, for which we have many opportunities in different levels of our organisation.
Diversity of our employees
5% 1%
18%
21%
48%
16%
25%
29%
13%
25%
Female, blue collar 
Male, blue collar
Female, white collar 
Male, white collar
< 20 y
41 – 50 y
21 – 30 y
51 – 60 y
31 – 40 y
61 – 70 y
An important aspect is ensuring a safe haven for all our workers. We take a firm stand against any form of bully- ing, racism, discrimination, harassment, violence, exclu- sion and negative behaviour among employees. It goes without saying that any illegal and unethical business practices are unacceptable. While this is clearly laid down in our Code of Conduct, we continue to ask extra atten- tion for this and we encourage our employees to speak up if anything should happen that is not in line with our policy. This is being enabled and supported by dedicated communication campaigns and a whistleblowing tool that is accessible to the entire workforce.
It is elementary that all our colleagues not only feel safe and comfortable within our company, but also help to create and safeguard an open and inclusive culture. In 2022, we launched an extensive internal campaign in all our global entities, and across our approximately 8 500 employees. The aim is to motivate people to speak up when they see or experience inappropriate and unethi- cal behaviour – whether it is someone being bullied or discriminated against, or someone compromising the quality of our products or favouring one of our suppli- ers. In 2023 a follow-up campaign has been launched to further raise awareness.
A
s a responsible company, we always prioritise the health and safety of our employees. Regardless of their job, role or function, everyone must feel
protected and safe at work. But in a broader sense, we also want our company to be a safe haven. We expect a lot from our people, but we also need to give back. We want our organisation to be like a second home, where people find trust and support to perform to the best of their ability.
All Greenyard sites have Employee Health and Safety pol- icies in place, in line with the context of the location and the activities. A Group Health and Safety Manager was appointed in 2022 to coordinate actions across differ- ent divisions and actively work on the development of a safety culture, measuring performance in a standardised way and exchanging best practices.
We are working actively to minimise the number of work accidents and strive towards zero accidents and espe- cially a zero-accident culture. To measure our progress, we track the number, frequency rate and severity of acci- dents on our sites. The number of work accidents with lost time decreased by 14%, whereas the frequency rate decreased by 1,5%.
Next to safeguarding the physical health of our people, Greenyard is dedicated to prioritising the well-being and mental health of its employees. In the framework of Happy Healthy Greenyard, various initiatives have been taken. Including resilience and stress management workshops, but also creating opportunities to connect and boost team spirit through participating in sports events, after work drinks and other informal gatherings. By fostering a culture that values the well-being of our employees, we aim to enhance their overall job satisfaction, productivity, and long-term success within the organisation.
.
314
316
306
295
256
Evolution work accidents with lost time
2018 / 2019 2019 / 2020 2020 / 2021 2021 / 2022 2022 / 2023
HEA LTH & SAFETY COMMUNITY
Taking valuable lessons from every incident
“Through the establishment of our Health and Safety Community, we continue working on a true safety culture within Greenyard. This community enables our local prevention managers to share their expertise across different divisions and sites and take lessons from every incident that occurs. Since we use a variety of ‘rolling transport’ like forklifts, reach trucks and electrical pallet trucks (EPT), risks related specifically to these types or internal transport are therefore one of our top priorities,” says David De Bruyn, Group Health & Safety Manager.
“Handling perishable goods means we need to be flexible in our operations. We are often working with temporary colleagues and depending on the season and the products that are coming in, we
have to completely reset machines and production lines. All these elements come with their own spe- cific safety hazards.”
“By sharing experiences within our Health and Safety Community, we can leverage the knowl- edge we have in our company and implement best practices across the different sites. It also enables us to take valuable lessons from every incident. In many sites, we are making progress on implement- ing a Fast Intervention Team (FIT) that investigates major incidents on-site: what happened exactly, why did it happen, and most importantly how can we prevent it from happening again? Every incident is reported and discussed among the community, so everyone can learn from it.”
W
e are all part of society – this is also true for our company. Our ambition is to improve life – through our pure-plant products, our add-
ed-value services and our connecting role in the food value chain. We can only fulfil this role if we also support our local communities as best as we can. In many of our entities, we collaborate with local food charities by pro- viding them with surplus food that we cannot supply to our customers but is still perfect for consumption. In this way, we also try to provide the most vulnerable people in our society with great, pure-plant food.
106 / UNLEASHING THE PURE PO WER OF PLANTS
GREENYARD ANNUAL REPOR T 2022/2023
/ 107
Economic impact & governance
108 / MESSAGE FROM OUR CO- CEOs | HIGHLIGHTS | GREENYARD’S RELEVANCE | FOOD OF THE FUTURE | PURE POWER OF PLANTS | DRIVEN BY PASSION & PEOPLE
O
ur Greenyard Code of Conduct clearly defines how we expect all our employees to act in a responsible, ethical and legally compliant way. The Code links back to globally recognised
principles, including the Universal Declaration of Human Rights, the UN Sustainable Development Goals, UN Global Compact, the International Labour Organisaton (ILO) Declaration on Fundamental Principles and Rights at Work, the OECD Guidelines for multinational enterprises and the EU Code of Conduct on responsible food business and marketing practices. We have translated this internal Code of Conduct to an external Supplier Code of Conduct including specific topics like Children’s Rights.
We encourage people to speak up if they run into situations that do not feel right to them. We encourage our employees to discuss situations first with their managers or trust persons within our organisation and we have a whistleblowing system in place. Our whistleblowing system, in combi- nation with a grievance mechanism, is also published on our website and can be used by suppliers or any party involved within our supply chain to report any alleged misconduct. This should ensure that anyone working with us feels safe, welcome and treated in the right way. For our employees their work situation should feel as a safe haven where they can be who they want to be and develop themselves to the best of their abilities.
We have a clear management structure, with committed and informed managers who live our values and act according to our ethical frame- work. Our sustainability governance structure and
our roadmap are supported by our senior management, who regularly report to our Board of Directors on our sustainability performance.
G
reenyard has a clear sustainability strategy, roadmap and model, which is supported by the leadership of the company and the senior man- agement. The selection of key targets and focus of our roadmap is confirmed by a double materiality analysis. As of January 2023, Greenyard’s loans are linked to a selec- tion of the sustainability targets embedding it even more within our decision making. All of this can be considered as part of our governance structure to drive the execution
of our sustainability roadmap.
Our purpose and strategy clearly demonstrate that sus- tainability is an integral part of our course of action. But to reach our goals we have a separate execution structure in place. The actual execution is done in the business. It is there that we save energy, use less water or packaging, prevent food waste and ensure responsible sourcing. In the business, we have to team up with different custom- ers and comply with their demands on sustainability. And at the same time, we need to team up with all other partners in our value chain. Greenyard is a true connect- ing partner in this.
In our business we have a group of Sustainability Ambas- sadors who facilitate and guide this process. Every entity has a Sustainability Lead who acts as the local coordina- tor on sustainability. The different Sustainability Leads report (non-hierarchical) to the Group Sustainability and Innovation Director who reports directly to the co-CEOs and is responsible for the day-to-day management of our Group Sustainability Roadmap.
There are regular meetings with all Group Sustainability Ambassadors to inform everyone on specific topics, share best practices and to help building a sustainability cul- ture. These meetings take place four to six times a year. In the process of building the Sustainability Roadmap and to review the roadmap in 2023 the Group Sustainability and Innovation Director is supported by the Sustainability Committee, consisting of several senior representatives across various functions, markets and areas of expertise.
The Group Sustainability and Innovation Director has regular meetings with the co-CEOs and reports back to the Leadership Team on milestones and important projects. The Board of Directors is updated on the pro- gress we make as part of the regular business updates by the co-CEOs, who are ultimately responsible for the strategy and its implementation, and whose manage- ment incentives are linked to the Group’s sustainability performance. Next to this the Group Sustainability and Innovation Director is invited to attend Board meetings on specific sustainability topics and to report on progress at least once a year.
Our governance approach is underpinned by two Codes: the Greenyard Code of Conduct and the Greenyard Sup- plier Code of Conduct. Our Code of Conduct outlines the unified social norms and responsibilities for all Green- yard operations and is applicable to all our employees. It defines our core values and the principles we live up to in the spirit of protecting our business, respecting the people we work with and our duty to foster nature. To help employees understand the Code of Conduct, a user-friendly e-learning module is mandatory for all Greenyard employees.
Our Supplier Code of Conduct sets out the standards in terms of environmental, social and governance mat- ters that we expect from all direct suppliers of Green- yard – whether raw material suppliers, service providers, co-packers, contractors or agents.
A grievance mechanism is in place for anyone who wishes to report misdemeanours of any kind. A whistleblowing policy guarantees absolute anonymity and empowers our employees to actively contribute to creating a safe haven for everyone. The same goes for suppliers and their employees. Any report is handled by a dedicated inves- tigation team which has internal procedures in place. The introduction of a user-friendly Whistleblower soft- ware tool along with a company-wide campaign (Speak Up) resulted in eight Whistleblower reports this year. Following investigations, three cases were confirmed and remediated.
We have a range of control procedures to ensure that these codes and policies are being followed. Greenyard seeks assurance in respect of human rights, labour reg- ulations and health and safety regulations by means of regular audits at each of its facilities. Compliance with topics that are material to Greenyard’s sustainability agenda are reported annually in our sustainability report.
In addition to this sustainability report, Greenyard dis- closes information about its environmental, social and governance performance to specialist ESG rating agen- cies including CDP, EcoVadis, Moody’s ESG, MSCI and Sustainalytics. Greenyard is also among 350 keystone companies which are covered by the Food & Agri bench- mark by the World Benchmarking Alliance. Other ratings or benchmarks are not actively followed up by Greenyard.
Greenyard achieved B for CDP Climate change and B for CDP Water security in 2022. In January 2023, Greenyard received an ESG Risk Rating of 30.1 and was assessed by Sustainalytics to be at high risk of experiencing material financial impacts from ESG factors. Greenyard’s ESG Risk Rating places it 30th percentile in the food products industry assessed by Sustainalytics1. As of 2022 Greenyard also received an MSCI ESG Rating of AA2 .
2 The use by Greenyard of any MSCI ESG RESEARCH LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Greenyard by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
SUPPLIER CODE OF CONDUCT
Setting the right standards for all our suppliers
“Our internal Code of Conduct serves as an imperative guide for all our employees to uphold the values and principles we wish to honour in our everyday business. In 2022, we have translated these principles into a Supplier Code of Conduct, which is now being rolled out to suppliers across our entire organisation,” says Frederik Tirez, Legal and Compliance Counsel at Greenyard.
“Our Supplier Code of Conduct sets out the envi- ronmental and social standards that we expect from all direct Greenyard suppliers – whether they are growers, raw material suppliers, service provid- ers, co-packers, contractors or agents. The guiding principles will certainly not come as a surprise to our long-term suppliers, but the Code does formal-
ise these principles in a more explicit way. By sign- ing off, our suppliers confirm their compliance with international and national employment legislation and their commitment to respect human rights in their activities.”
“We are currently in the process of rolling out the Supplier Code of Conduct to all our suppliers across our entire organisation. The implementation is handled by our sourcing and procurement depart- ments, who have direct contact with most of our suppliers. We have also included a reference to the Supplier Code of Conduct in our terms and condi- tions.”
Financially embedding sustainability with Sustainability Linked Loans
Greenyard took its sustainability commitment to the next level last year through sustainability linked loans. We have ambitious goals in our Sustainability Roadmap to contribute to a healthier planet. To reinforce our dedication, we converted our existing bank loans to Sustainability Linked Loans, with KPIs focusing on climate change action, water usage, and responsible sourcing.
The aim is to reduce our Scope 1 and 2 emissions by over 50% within the loan term. We're actively
engaging with our suppliers and growers to have them set their own climate targets and conse- quently lower our Scope 3 emissions. Regarding water usage, we plan to save 480 000m3, equivalent to almost 12% reduction compared to the reference year. Additionally, we aim to source 93% of goods from certified growers in high and medium risk countries, aligned with the Sustainability Initiative Fruit and Vegetables (SIFAV).
SUS TAINABILIT Y IS A JOURNEY
On a journey, with a clear destination
“As a mother, sustainability is a topic that is close to my heart. I believe it is every generation’s duty to leave a better world for their children. Greenyard holds a central position to create positive change in our sector, in the eating habits of people and in the way we produce and consume food,” says Valentine Deprez, member of Greenyard’s Board of Directors and actively engaged in sustainability.
“Greenyard has all the building blocks in place for a great future as a growth company – we have a gigantic product portfolio that contributes to a healthier future for everyone. But despite all this,
we must be aware we are not there yet. There are still many challenges ahead. As a global player, we have an enormous responsibility towards everyone who is working in our supply chain – whether close to home or on the other side of the world.”
“Sustainability is often compared to a journey, and I think that’s very true. It’s about acknowledging where you stand today and where you still need to improve. But the most important thing is to know your destination. You need to have a clear vision on where you are going and have the courage and persistence to pursue that vision.”
A
s we want sustainability to be part of our daily operations, we measure the crucial KPIs on location level and where relevant we do this on
a monthly base. This supports local management to act and steer towards the reduction of our environmental footprint based on actuals. The KPIs on energy use (elec- tricity and gas), (food) waste and water are measured on a monthly base.
Reporting is done in our own sustainability reporting tool. All KPIs have a clear definition and we organise update trainings on the use of the tool yearly, as well as on rele- vant updates like newly available reports. We review the input on a quarterly base, with a focus on data consist- ency and understanding outliers. This way we ensure we collect data in a consistent manner from every division, entity and location. The data is entered manually into the system by our local sustainability ambassadors. We request them to have also evidence available for the reported figures. This can for example be the meter read- ings, invoices or other internal databases.
We use all the collected data for both our sustainability report and for the limited assurance audit process on the most important group of KPIs. With the sustainabil- ity reporting, in alignment with our double materiality assessment, we seek to offer a good transparency on the impact of our operations and our value chain. We foresee that in the coming years more datapoints will be added, also linked to evolving legislation and reporting criteria like the EU Taxonomy and the CSRD. We antici- pated already on future requirements by having a limited assurance on our sustainability data. We aim to keep being ahead of upcoming regulation even though the increasing demands on reporting – especially for larger companies like Greenyard – is taking up a significant amount of valuable time that we also need to spend on real sustainability projects. The list of KPIs that have been reviewed externally is listed in the limited assurance report on page 139. The level of external reporting is a consolidated figure mostly on Group level and partly on divisional level.
Internally, the monthly reporting schedule runs parallel with our financial reporting at Group level and enables management to analyse our performance, detect trends and deviations and steer our operations in the right direc- tion. We have quarterly meetings with the CFO to report on the progress. In the past year this was predominantly on setting up the reporting as such. The sustainability team is supported in this reporting effort by the Account- ing & Controlling department.
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reenyard has a fundamental responsibility to ensure people can trust the safety and quality of all our products.
Our approach
We have implemented a wide range of processes across our entire supply chain to ensure food safety and quality. All products supplied by Greenyard are compliant with regulatory requirements in the EU and the country of sale as well as being safe for consumer usage and consistent in quality. Our Quality and Safety Policies outline the steps required to identify, control and monitor points of potential safety risk. They cover every stage of the supply chain and apply to all operating sites and product catego- ries. All sites comply with the most stringent international food quality standards. Within our regular quality control procedures, we conduct more than 90 000 laboratory tests on products and processing equipment every year.
The company’s focus on food safety and quality covers the entire production chain. All growers and suppliers must comply with clear and strict product specifications. When selecting new suppliers, we set high standards for food safety and quality. We conduct formal risk assess- ments on all our growers and suppliers, using assurance schemes which comply with the Global Food Safety Initi- ative, and we review their certification status every year.
Making sure our products and ingredients are fully trace- able is a critical part of food safety, as well as a legal requirement. It also enables us to guarantee high-quality products and promote sustainability in our supply chain. Organic, Fair Trade and Rainforest Alliance products are supplied through a chain of custody schemes, which guarantees that they have been sourced in a fully sus- tainable way.
Our progress
As a global food business operator, Greenyard recognises the critical importance of maintaining high standards of food safety across all its operations. Our commit- ment to ensuring the safety and quality of our products begins with compliance with local regulations and goes far beyond that.
At Greenyard, we take a proactive approach to food safety culture, continuously improving our internal requirements to meet the evolving needs of the indus- try, as well as regulatory requirements. We recognise the importance of staying ahead of the curve, which is why we have renewed our Group Quality and Food Safety Policy to ensure that we maintain the highest standards of food safety across our entire company.
It pleases us to say that we are one of the frontrunners in the application of new scientific insights to approach and improve a company's food safety culture. Recently, we successfully concluded the QDNA project, in close cooperation with the University of Ghent and Flanders Food, which aimed to develop methodologies to eval- uate the food safety culture of a company and identify potential routes for improvement. Based on the project's outcomes, we have developed our own Food Safety Cul- ture Program, which is currently being rolled out across all our divisions and countries.
Future plans
In the next two years, our Food Safety Culture Program will serve as a basis to embed food safety in the entire organisation, in ways that are even more effective than what was already the case. We will continue to prioritise food safety in our operations, demonstrating our com- mitment to our customers and stakeholders by ensuring the safety and quality of our products.
In parallel, we plan to fully implement our renewed Qual- ity and Food Safety Policy to further enhance our stand- ards across all divisions and our supply chain. We will take state-of-the-art data management systems into use to reinforce compliance across our supply chain. Addition- ally, we will expand our cooperating frameworks within the quality and food safety community, allowing experts to work together more closely and find common solutions to common challenges.
It serves to show that at Greenyard, we are dedicated to maintaining the highest level of food safety standards and continuously improving our practices. We believe that by working together, we can make a positive impact on the industry and contribute to a sustainable future.
Food quality & safety
Indicator 2020/2021 2021/2022 2022/2023
Number of tests conducted on | 66 716 | 65 027 | 73 764 | |
products | ||||
Number of tests conducted on equipment and facilities | 28 906 | 28 703 | 27 654 | |
Number of IFS-certified facilities | 25 | 27 | 27 | |
Number of BRC-certified facilities | 11 | 11 | 11 | |
Number of FSSC 22000-certified facilities | 3 | 3 | 3 | |
Number of ISO 9001-certified facilities | 2 | 1 | 1 | |
Number of Primus GFS-certified facilities | 1 | 1 | 1 | |
Number of audit days carried out by certification bodies | 257 | 260 | 223 |
T
he Group has a consumer-centric approach to product development which involves taking into account consumer needs such as health, conven-
ience, pleasure, affordability and sustainability. The goal is to drive forward product innovation in each division. In the past financial year, as well as in previous years, many new products, product varieties, dishes and packaging have been developed and successfully marketed. Some of these products have also been recognised for their innovative character and nominated for industry awards.
Development quality and the circulation of information throughout the organisation are monitored throughout the process by the internal research and development
(R&D) departments. Fresh and Long Fresh employ respec- tively 20 and 8 dedicated permanent staff to develop new products and engage in research partnerships. There are currently a number of R&D programmes in place, which are co-financed by external national and international institutions. The Group’s R&D budget amounts to € 3,0m.
The Group’s food processing operations continue to invest in the best-performing and innovative machinery and installations. This allows them to develop products at a rapid pace, aligned with market trends and consumer expectations.
I
n 2022-2023, the cash taxes for corporate income taxes contributed by Greenyard to local tax authorities amounted in total to € 13 495m. Next to the aforemen- tioned amount, the Group also contributes significant other amounts of taxes in all of the jurisdictions where activities are carried out such as payroll taxes, social security and VAT. In line with the Group’s tax policy, a correct determination and timely payment of the taxes due in compliance with applicable tax laws are pursued. The taxes paid by the Group are a key part of its wider economic and social impact and the Group is aware that it plays an important role in the development and/or stability of the jurisdictions where it operates. Therefore, the correct payment of taxes is considered an important element of the Group’s commitment to grow in a sustain-
able and socially inclusive manner.
The Group commits to conduct its tax matters in a con- sistent way with the following objectives:
Compliance with all relevant tax laws and regulations and minimisation of the risk of violating any tax reg- ulation or the risk of abuse of any tax measures. The Group has a dedicated tax team working closely with the Group’s business to provide advice and guidance where needed to ensure accuracy and compliance with tax law. When considering how Group entities structure business arrangements, tax implications are analysed in parallel with other consequences such as capital efficiency and legal and regulatory aspects when deciding between potential alternative set-ups.
Application of professional diligence and care in the management of all risks associated with tax matters. In certain circumstances where the application and/ or the interpretation of tax regulations is unclear, the Group pursues help from external specialist advisers to support decisions. When appropriate the competent local tax authorities are consulted.
Fostering a good relationship with local tax authorities, based on values of correctness, open communication and transparency. The Group consults competent local tax authorities on the tax impact of certain transac- tions and is part of (informal horizontal) monitoring programs in certain jurisdictions. Moreover, detailed and accurate documentation is proactively prepared on the group’s transfer pricing policy in accordance with the OECD Transfer Pricing Guidelines and this is shared with the tax authorities in a timely manner. The Group is also complying with CbCR and is preparing for other tax measures coming up such as public CbCR and Pillar 2.
The Group only uses tax incentives and reliefs where appropriate and in line with business activities. The Group does not carry out transactions that are primar- ily tax driven nor does it set up business and/or make investments in jurisdictions classified as tax havens with the aim to reduce taxes on operational activi- ties elsewhere. Any presence in jurisdictions with tax rates lower than Belgium are driven by business oper- ations. Reference is made to the consolidated financial statements for reporting of financial, business and tax information for each jurisdiction in which the Group operates.
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Greenyard at a glance
G
reenyard has the zest to call the world’s larg- est food retailers and food service companies its customers. They rely on us for a steady and
high-quality supply of fresh, frozen and prepared fruits and vegetables.
Thanks to strong and long-term relationships with our customers, we offer our expertise, global scale, and knowledge to co-create a pure plant product offering that enhances their business by meeting the everchang- ing consumer needs.
Our unique and complementary mix of three divisions, Fresh, Frozen and Prepared, allows us to meet the needs of every consumer. No matter their lifestyle or age. No matter the occasion. A quick afternoon snack, a conven- ient and healthy meal tomorrow, or dinner with friends next weekend.
Greenyard’s pure-plant powered arrangement and short food supply chain also contribute to a healthier planet. We supply our produce to a range of different markets fitted to their respective size and taste preferences, meaning nature provides us with her bounty at her own rhythm. Additionally, we carefully source products for our Frozen or Prepared ranges, to meet other types of consumer needs in a sustainable way.
Providing people around the globe with healthy fruit and vegetables is so much more than sourcing and selling produce. We need to ensure that the product that ends up on their plates exactly matches their expectations. And this in one of the most complex food categories out there. Delivering top-notch quality products is key. Ensuring a constant quality starts on the fields where the produce is grown.
GREENYARD FRESH
Fresh quality and variety
approx.
approx.
25
distribution sites
1 900 000
tons/sales volume
5 300
employees
Worldwide market leader that offers an exception-
ally wide range of high-quality fresh fruit and veg- etables, sourced from selected growers all over the world, to key retailers. With strategically located distribution centres, our Fresh division offers them best-in-class integrated services that improve their performance and increase sales of healthy consumer products.
GREENYARD FROZEN
The best of nature, always fresh
9
facilities
approx.
485 000
tons/sales volume
approx.
2 200
employees
Global pioneer and market leader in processing freshly harvested fruits and vegetables into inno- vative, frozen food products that are easy to store and consume; meeting the needs of modern con- sumers who want to enjoy healthy and tasty food, with minimal preparation time. Our Frozen division offers excellent service and advanced logistics for frozen plant-based products to retailers, food ser- vice companies and the food industry in general.
GREENYARD PREPARED
The best of nature, available all-year round
2
facilities
approx.
250 000
tons/sales volume
approx.
1 000
employees
Global player in freshly preserved fruit and veg- etables, and other ambient food products that are easy to store and ready to eat. Our Prepared division supplies three market segments with an extensive product portfolio: retailers, food service companies and the food industry. Ranging from classic preserved products in cans or jars to dips, sauces, and soups in a variety of packaging.
At Greenyard, we work very closely together with our growers, connecting them to our customers.
USA
SWEDESBORO
By combining our sourcing and technical expertise with our extensive network of state-of-the-art distribution centres and processing facilities, we have developed the capacity to offer world-leading added-value services. The produce we source from our growers, is thoroughly con- trolled by our quality department on all relevant aspects, to ensure it matches the exact requirements and specifi- cations of each individual customer. Before it is delivered to these customers it is stored in our distribution cen- tres under optimal conditions. For specific products like mango, avocado or bananas we also provide independent ripening services.
Our integrated and close collaboration with the world’s largest retailers and food service companies help them to expand their offering, develop new markets and success- fully anticipate consumer trends. Long-term and solid relationships with retailers allow us to keep the consumer top-of-mind in all our activities.
Starting from consumer demand, and closely working together with both ends of the chain is unique to our business. It does not only allow us to optimally link supply with the actual consumer demand, it also enables us – together with our customers – to actively drive the shift towards healthier lifestyles and an increased consump- tion of fruit and vegetables. Always working towards an ever more sustainable food value chain.
Greenyard Fresh facility Greenyard Frozen facility Greenyard Prepared facility
THE NETHERLANDS
1. WADDINXVEEN
2+3. RIDDERKERK
BELGIUM
LANGEMARK
WESTROZEBEKE
BOOM
4+5+6. SINT-KATELIJNE-WAVER
RIJKEVORSEL
BREE
1 2
1
2 3
7
3 4 5 8
6
UNITED KINGDOM
BOSTON
KING’S LYNN
SPALDING
GERMANY
HAMBURG
DUISBURG
LEIPZIG
FRANKFURT
EITTING
MÜNCHEN
POLAND
1+2. GDANSK
3+4. POZNAN
ZABIA WOLA
DĄBROWA CHEŁMIŃSKA
LIPNO
ADAMÓW
1 2
1 6 5
1
3 2 3 4
7
8
2 3
2
4
CZECH REPUBLIC
5 PRAGUE
3 6
FRANCE
RUNGIS
COMINES
MORÉAC
AUSTRIA
VIENNA
ITALY
VERONA
1
SPAIN
1. VALENCIA
2. ALMERIA
T
oday’s consumers expect all year-round availabil- ity of their favourite fruit and vegetables. Green- yard has built a strong, worldwide grower and
supplier network with whom we have been working for a very long time. Sometimes decades. By teaming up and providing them with data-driven feedback this results in a unique way of working and steady supply of high-quality products for our customers.
For all our products we look for the most fitting location to grow them. If products must travel longer distances from field to market, we focus on the optimisation of transport and the best conditions to minimise waste along the food value chain. We annually source over 2,6 million tonnes of fruit and vegetables from 90 coun- tries, of which around 65% comes from Europe.
Next to our fresh produce that is available via all year- round programs to our customers, we also promote our long-fresh portfolio. These are frozen and prepared prod- ucts that are, of course, always available for a broad con- sumer range. A truly healthy, sustainable, convenient and affordable offering. All frozen and prepared products come from fields within 150 kilometres of our production plants. The time between harvesting and the frozen prod- uct can be as little as one hour. This very fast handling allows us to harvest the product at the best moment in time and to preserve all its health benefits, always staying close-to-crop. At the same time this allows consumers to enjoy these products later, when it suits them best.
Greenyard volume share by origin
> 5%
1-5%
0,5-1%
< 0,5%
Net Sales | Adjusted EBITDA-margin | Adjusted EBITDA |
(Like-for-Like) | (post-IFRS 16) | (post-IFRS 16) |
4 638,0 m | 3,6 % | € 167,3 m |
Approx. | ||
8 500 | 11 | 25 |
employees | production sites | distribution centres |
(Frozen & Prepared) | (Fresh) | |
Profit | Net Financial Debt | Leverage |
€ 9,3 m | € 277,3 m | 2,2 x |
Approx. | ||
2 600 | > 80 | 18 |
Kton sales volume | sales countries | out of 20 of |
EU top-20 retailers | ||
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EU taxonomy
T
he EU Taxonomy Regulation (EU 2020/852) aims to define the criteria for determining whether an economic activity can be considered environ-
mentally sustainable and in line with the EU objectives laid down in the EU Green Deal, including EU Climate targets. By defining what is sustainable it is believed that a transition towards a more sustainable economy is fos- tered as investments can be directed towards Taxonomy aligned activities.
Within the EU Taxonomy six environmental objectives are defined.
Climate change mitigation
Climate change adaptation
The sustainable use and protection of water and marine resources
The transition to a circular economy
Pollution prevention and control
Protection and restoration of biodiversity and ecosystems
At this moment, the Technical Screening Criteria (TSC) are only available for the first two objectives, climate change mitigation and climate change adaptation. These criteria are published within the commission delegated regulation (EU) 2021/2139. It is not yet clear when the TSC for the other 4 criteria will be published.
The TSCs determine the conditions under which an eco- nomic activity qualifies as contributing substantially to climate change mitigation or climate change adapta- tion and as well whether that economic activity causes no significant harm to any of the other environmental objectives.
Not all sectors and economic activities are explicitly mentioned or indicated within the EU Taxonomy. The Commission has focussed first on activities that could have a large (negative) impact on climate change and where transition to more sustainable alternatives makes most sense. The wholesale of fruits & vegetables as well as food production (frozen / prepared) are not explicitly mentioned and therefore the main revenue generating activities of Greenyard are not eligible.
Greenyard supports the objectives and ambition of the EU Taxonomy, which are fully in line with the strategy of Greenyard and its sustainability roadmap. However, we also want to stress that all new regulation on reporting has a significant impact on the cost and effort for com- panies for only reporting instead of real climate action. This is because of the complexity of the new European regulatory framework, which is also still evolving and because different interpretations on how to apply it.
We expect that with the future publication of TSC’s for the other environmental objectives and evolving clar- ifications on how to report, combined with pragmatic and sector wide standardisation, reporting on the EU Taxonomy criteria will be made easier and as well more fit for purpose.
G
reenyard falls under the scope of EU Taxonomy Regulation. As such and as per Taxonomy Dis- closure Delegated Act of (EU 2021/2178) the
company has assessed if the economic activities of the Group are eligible to report on in line with the KPI defi- nitions and TSC’s given within the first two annexes of Climate Delegated Act (EU 2021/2139).
Greenyard’s key revenue-generating activities consist of the wholesale and distribution of fresh fruit and veg- etables and the production of frozen and prepared fruit and vegetables, which are not covered in either of the annexes of the Climate Delegated Act and do not match the description of the TSC’s that classifies economic activities as sustainable. This means the main revenue generating activities of the company are out of scope of the currently published TSC’s of the EU Taxonomy.
Greenyard does engage in economic activities that sup- port the main activities like the transport of the fruits and vegetables to Greenyard customers.
Within the EU Taxonomy regulation companies are required to report on the proportion of turnover (rev- enues), capital expenditures (CAPEX) and operating expenditures (OPEX) that is associated with environ- mentally sustainable economic activities, and to what extent these activities are aligned (i.e. contributing to one or more environmental objectives). Whereas our main revenue generating activities are not eligible and will therefore not be reported on we have also considered if any expenses could be eligible and potentially be aligned through either CAPEX or OPEX related expenditures. A definition of CAPEX and OPEX within the EU Taxonomy we used for the analysis is given below as well.
Greenyard reviewed each of the described activities within the EU Taxonomy Climate Delegated Act and con- cluded that only the following activities could be consid- ered as eligible. Per activity a short explanation is given how we consider this activity to be eligible to report on. The related amounts of Turnover, CAPEX and OPEX can be found in the specific tables at the end of this section.
Cat. EU Taxonomy activity description Revenue CAPEX OPEX
6 | Transport |
6.6 Freight transport services by road (for only 2 further specified entities)
X X X
7 | Construction & Real Estate |
Installation, maintenance and repair of energy
efficiency equipment X
Installation, maintenance and repair of charging stations for elec-
tric vehicles in buildings (and parking spaces attached to buildings) X
T
he turnover KPI represents the proportion of the net turnover derived from products or services that are taxonomy-aligned. In the case of Green-
yard for the current published set of criteria only a very limited amount of turnover could be labelled as taxonomy eligible (only 0,2%) and this revenue is not aligned.
The Capex KPI represents the proportion of the capital expenditure of an activity that is already taxonomy-aligned or part of a credible plan to extend or reach taxonomy alignment. For reference we mention that the CAPEX used in the Eu Taxonomy tables is CAPEX excluding decom- missioning provisions. Greenyard monitors CPEX with an internal tool, whenever an entity requests CAPEX also extra information is requested on how this CAPEX con- tributes to our sustainability goals. While this helps us in realisation of our sustainability roadmap this methodology is not yet fully aligned with the EU Taxonomy, in the coming years we will further finetune this tool also to the TSC’s of the EU Taxonomy. For this analysis the tool helped to identify potential aligned CAPEX and to judge if any CAPEX investment that have a specific sustainability aspect in it in line with the current published TSC’s.
To look at alignment of OPEX KPI the EU Taxonomy consid- ers the spend on OPEX directly attributed to CAPEX needed for the transition to more sustainable operations to be eli- gible or attributed to already taxonomy aligned activities. The operating expenditure covers direct non-capitalised costs relating to research and development, renovation measures, short-term lease, maintenance and other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment that are necessary to ensure the continued and effective use of such assets. This definition is narrower than compared to our accounting definition of operating expenses.
We have estimated the specific OPEX categories and concluded that this is not a significant amount within the overall OPEX of Greenyard and that it would not be aligned OPEX. We therefore will report it as not aligned.
The EU Taxonomy allows for an exemption where the operational expenditure is not material for the business model, which is applicable in this case.
We will further explain more qualitative on the different categories:
Transport
The main activity of Greenyard is the wholesale of fruits and vegetables (NACE code 46.319). Transportation is a small part of all activities performed by Greenyard. Greenyard does have a small own truck fleet, but trans- port activities are mostly outsourced to sub-contrac- tors. Transport is for example used to deliver the sorted, packed fruits and vegetables products to the distribution centers of retail customers.
Transport (in different forms) is an economic activity that is included in the EU Taxonomy (Annex 1 – category 6). Within the activities of Greenyard transport is clearly facilitating to the main activity of Greenyard. Transport is part of the overall cost price of the main product or service Greenyard invoices to its customers. Within the Greenyard financial reporting (where Greenyard is fol- lowing the IFRS accounting standards) the transport part is not reported separately but only as an integral part of the overall Turnover.
Following the Taxonomy guidelines leads to excluding Greenyard’s transportation activities from EU Taxonomy disclosures, as they are facilitating to the main activities of Greenyard, mostly outsourced and the price of trans- port is included in the price of the product.
In two entities Greenyard has a specific transport business that does fit into the specific definition of the EU taxonomy category 6.6 while this is not a significant or material part of our revenues we will report the related revenues and related CAPEX and OPEX of these activities. The reported Revenues do not contain any intercompany sales.
6.6 Freight Transport by road
In two specific entities (Bakker Trans SRO in the Czech Republic and Greenyard Transport Belgium), Greenyard is acting as a pure transport company. These economic activities are in line with the description of EUT activity
6.6 Freight transport services by road.
This is the only revenue that Greenyard considers eligible under the EU Taxonomy. As these transport activities are not performed with zero emission vehicles none of the turnover is aligned. The same accounts for CAPEX and OPEX, which is 0% aligned. Within the CAPEX and OPEX (not aligned) the numbers refer to the overall OPEX and CAPEX of Greenyard and within the reported figures also the related CAPEX and OPEX of transport activities in other entities of Greenyard are reported (where transport is a facilitating activity).
Please note that the revenues of these specific activities are only around 0,2% of the total turnover of Greenyard and therefore not considered material.
Construction & Real Estate
Section 7 of the EU taxonomy focusses primarily on real estate developers and building & construction compa- nies. Greenyard does not have any eligible turnover in category 7 as it is not a real estate developer or construc- tion company and did also not construct any buildings for its own use.
Within section 7 of the EU Taxonomy Greenyard will report this year on 2 sections (7.3 and 7.4) which both have a direct relation to Greenyard’s sustainability strat- egy. On category 7.6 (Installation, maintenance and repair of renewable energy technologies, on-site) we give a short explanation, but we will not report on this as there was no CAPEX or OPEX to report on within this category in the reporting year.
Installation, maintenance and repair of energy efficiency equipment
One of the technical screening criteria within chapter
7.3 of the EU Taxonomy is the transition towards LED lighting. The process of LED-ification is ongoing within Greenyard. While the amount of Capx per year is not significant, changing lights in large distribution centres does take a lot of effort (working at hight, a lot of trans-
port activities on the floor) therefore we try to combine this with regular maintenance. Other activities are are installation or replacing of insulation materials within our factories for example insulation of tubes that trans- port warm water and steam. The same accounts for the “cold side” of our operation where we use insulation to keep rooms at a cold or freezing temperature. Here we included any insulation of cold stores and the walls and roofs of temperature controlled storing facilities storing facilities and ripening rooms. Investments can also be on improving of the efficiency of equipment used for the cooling or heating process.
We did not include any replacement of boilers, while a new boiler will as well have a positive effect as these will in general be more energy efficient as the older ones they replace. We expect that when sector specific criteria will be available for our sector the technical screening criteria will as well be more specific on our processes. The CAPEX spend on LED lighting is separately measured within this category but not aligned yet.
Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings)
To support the transition towards electric vehicles we are rolling out the installation of charging stations at the dif- ferent locations. This is mainly to support the transition of our lease (passenger) car fleet to employees to electric vehicles in the coming years. Any new lease car that is ordered needs to be electric as of 2022. Under 7.4 the related eligible CAPEX is reported which is not aligned.
7.6 Installation, maintenance and repair of renew- able energy technologies, on-site
On several locations where Greenyard operates a DC or factory also solar panels are installed. The Installation, maintenance and repair of renewable energy technol- ogies like solar panels is not done by Greenyard but by the landlord or an energy company investing in these installations. Greenyard can be the customer for the off take of the Green Energy produced this is done with a power purchase agreement (PPA).
Only in one case the solar roof itself was originally invested by Greenyard. This is the solar roof at the loca- tion in Bree. Within the reporting year no CAPEX or OPEX was related to this specific roof. In all other cases it is a third party who owns and operates the PV panels. There- fore, for this reporting year, Greenyard will report zero CAPEX and OPEX regarding category 7.6. As we might report on this category coming years for any investments related to the realization of new solar panel roofs or other renewable energy technologies, we labelled category 7.6 to follow up on coming years.
Extra disclosures on non-eligible activities
Activities 5.6 and 5.8 of the EU Taxonomy are defined as “construction and operation of dedicated facilities for the treatment of separately collected bio-waste through anaerobic digestion (5.6) or composting (5.8) with the resulting production and utilisation of biogas and diges- tate and/or chemicals.
Greenyard is not eligible as it does not construct, own or operate such specific mentioned facilities for bio- waste. Today Greenyard is a supplier to such facilities, as it delivers mixed organic waste flows that come free at different locations. Greenyard aims to minimize (food) waste overall and to use by-product flows as feed (only if it is not possible to keep them in the food chain). The bio
/ organic waste is collected by waste management com- panies that either treat it in their own facilities or bring the waste to other companies who in their turn operate a facility for composting or digestion.
Other qualitative information
With the actions we take we contribute most to climate change mitigation. To determine if an activity substan- tially contributes to climate change mitigation or adap- tion, we looked at the specific technical screening criteria (TSC) set out in the Climate Delegated Act. The main activities of Greenyard, being wholesale of fruits & veg- etables as well as food production (frozen / prepared) are not eligible. Only a very limited amount of the turnover relating to some dedicated transport activities is eligible. Based on the description of the EU Taxonomy activities only a small part of the CAPEX and OPEX is eligible.
Technical screening criteria (TSC) defining “substantial contribution” (is tussentitel)
To determine if an activity substantially contributes to climate change mitigation or adaption, we looked at the specific technical screening criteria (TSC) set out in the Climate Delegated Act. Today Greenyard reports only a limited amount of eligible turnover, the same accounts for CAPEX and OPEX. If we take a look at the actual amounts the conclusion should be that this is not material. To judge alignment, we applied the TSC to the best of our knowledge and with prudence. In case of any doubt on alignment we reported it as not-aligned.
Do No Significant Harm and Minimum Social Safeguards
A high-level assessment of alignment was performed on the 2022 eligible CAPEX. Only the CAPEX linked to the installation, maintenance and repair of charging sta- tions for electric vehicles (activity 7.4) could be considered aligned if also the Do No Significant Harm criteria are met. The relevant Do No Significant Harm (DNSH)-principle for this activity is related to climate adaptation and involves a robust climate risk and vulnerability assessment of the assets where charging stations have been installed.
Greenyard estimates none of its assets are at risk from one or more of the physical climate risks listed in Section II of the Regulation (EU) 2020/852 but has not yet per- formed a detailed climate risk and vulnerability of Green- yard’s assets. Such an analysis is contemplated during FY2024, therefore we report today also no alignment yet on the EU Taxonomy regarding our CAPEX. We are also assessing the incorporation of Technical Screening Crite- ria and DNSH-principles in our CAPEX process, to ensure effective and efficient reporting in the future. Elsewhere Greenyard complies with the minimum social safeguards (MSS). The applicable elements mentioned within Article 18 of the EU taxonomy on MSS are all an integral part of the Code of Conduct and the Supplier Code of Conduct of Greenyard.
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Proportion of turnover from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 22/23
Economic activites (1) | Code(s) (2) | Absolute turnover (3) | Proportion of turnover (4) | Climate change mitigation (5) | Climate change adaption (6) | Water and marine resources (7) | Circular economy (8) | Pollution (9) | Biodiversity and ecosystems (10) | Climate change mitigation (11) | Climate change adaption (12) | Water and marine resources (13) | Circular economy (14) | Pollution (15) | Biodiversity and ecosystems (16) | Minimum safeguards (17) | Taxonomy aligned proportion of turnover, year N (18) | Taxonomy aligned proportion of turnover, year N-1 (19) | Category (enabling activity or) (20) | Category (transitional activity) (21) |
1 000 EUR | % | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Percent | Percent | E | T | ||
A. TAXONOMY-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
A.1 Environmental sustainable activities (Taxonomy-aligned) | ||||||||||||||||||||
Turnover of environmental sustainable activities (Taxonomy-aligned (A.1) | 0 | 0,0% | ||||||||||||||||||
A.2 Taxonomy-Eligible but not environmental sustainable activities (not Taxonomy-aligned activities) | ||||||||||||||||||||
Freight transport services by road | 6.6 | 8 203 | 0,2% | |||||||||||||||||
Turnover of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) | 8 203 | 0,2% | ||||||||||||||||||
TOTAL (A.1 + A.2) | 8 203 | 0,2% | ||||||||||||||||||
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
Turnover of Taxonomy-non-eligible activities (B) | 4 681 907 | 99,8% | ||||||||||||||||||
TOTAL (A + B) | 4 690 110 | 100% | ||||||||||||||||||
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Proportion of CAPEX from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 22/23
Economic activites (1) | Code(s) (2) | Absolute turnover (3) | Proportion of turnover (4) | Climate change mitigation (5) | Climate change adaption (6) | Water and marine resources (7) | Circular economy (8) | Pollution (9) | Biodiversity and ecosystems (10) | Climate change mitigation (11) | Climate change adaption (12) | Water and marine resources (13) | Circular economy (14) | Pollution (15) | Biodiversity and ecosystems (16) | Minimum safeguards (17) | Taxonomy aligned proportion of turnover, year N (18) | Taxonomy aligned proportion of turnover, year N-1 (19) | Category (enabling activity or) (20) | Category (transitional activity) (21) |
1 000 EUR | % | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Percent | Percent | E | T | ||
A. TAXONOMY-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
A.1 Environmental sustainable activities (Taxonomy-aligned) | ||||||||||||||||||||
CAPEX of environmental sustainable activities (Taxonomy-aligned (A.1) | 0 | 0,0% | ||||||||||||||||||
A.2 Taxonomy-Eligible but not environmental sustainable activities (not Taxonomy-aligned activities) | ||||||||||||||||||||
Freight transport services by road | 6.6 | 5 751 | 8,4% | |||||||||||||||||
Installation, maintenance and repair of energy efficiency equipment | 7.3 | 677 | 1,1% | |||||||||||||||||
Installation, maintenance and repair of charging stations for electric vehicles in buildings | 7.4 | 462 | 0,7% | |||||||||||||||||
CAPEX of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) | 6 890 | 10,1% | ||||||||||||||||||
TOTAL (A.1 + A.2) | 6 890 | 10,1% | ||||||||||||||||||
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
CAPEX of Taxonomy-non-eligible activities (B) | 61 343 | 89,9% | ||||||||||||||||||
TOTAL (A + B) | 68 233 | 100% | ||||||||||||||||||
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Proportion of OPEX from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 22/23
Economic activites (1) | Code(s) (2) | Absolute turnover (3) | Proportion of turnover (4) | Climate change mitigation (5) | Climate change adaption (6) | Water and marine resources (7) | Circular economy (8) | Pollution (9) | Biodiversity and ecosystems (10) | Climate change mitigation (11) | Climate change adaption (12) | Water and marine resources (13) | Circular economy (14) | Pollution (15) | Biodiversity and ecosystems (16) | Minimum safeguards (17) | Taxonomy aligned proportion of turnover, year N (18) | Taxonomy aligned proportion of turnover, year N-1 (19) | Category (enabling activity or) (20) | Category (transitional activity) (21) |
1 000 EUR | % | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Percent | Percent | E | T | ||
A. TAXONOMY-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
A.1 Environmental sustainable activities (Taxonomy-aligned) | ||||||||||||||||||||
OPEX of environmental sustainable activities (Taxonomy-aligned (A.1) | 0 | 0,0% | ||||||||||||||||||
A.2 Taxonomy-Eligible but not environmental sustainable activities (not Taxonomy-aligned activities) | ||||||||||||||||||||
Freight transport services by road | 6.6 | 3 012 | 6,3% | |||||||||||||||||
OPEX of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) | 3 012 | 6,3% | ||||||||||||||||||
TOTAL (A.1 + A.2) | 3 012 | 6,3% | ||||||||||||||||||
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES | ||||||||||||||||||||
OPEX of Taxonomy-non-eligible activities (B) | 45 072 | 93,7% | ||||||||||||||||||
TOTAL (A + B) | 48 084 | 100% | ||||||||||||||||||
Additional EU-taxonomy templates index
Template 1 Nuclear and fossil gas related activities | ||
Row | Nuclear energy related activities | |
1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO |
2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NO |
3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | NO |
Fossil gas related activities | ||
4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | NO |
5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | NO |
6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | NO |
Template 2 Taxonomy-aligned economic activities (denominator) | |||||||
Row | Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as percentages) | |||||
CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
Amount | % | Amount | % | Amount | % | ||
1 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
2 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
3 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
4 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
5 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
6 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
8 | Total applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
Template 3 Taxonomy-aligned economic activities (numerator) | |||||||
Row | Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as percentages) | |||||
CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
Amount | % | Amount | % | Amount | % | ||
1 | Amount and proportion of taxonomyaligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
2 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
3 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
4 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
5 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
6 | Amount and proportion of taxonomy- aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
Template 4 Taxonomy-eligible but not taxonomy-aligned economic activities | |||||||
Row | Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as percentages) | |||||
CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
Amount 1 000 EUR | % | Amount 1 000 EUR | % | Amount | % | ||
1 | Amount and proportion of taxonomyeligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
2 | Amount and proportion of taxonomyeligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
3 | Amount and proportion of taxonomy- eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
4 | Amount and proportion of taxonomy- eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
5 | Amount and proportion of taxonomy- eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
6 | Amount and proportion of taxonomy- eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 | 0 | 0 | 0 | 0 |
7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | CAPEX: 6 890 OPEX: 3 012 Turnover: 8 203 | CAPEX: 10,1% OPEX: 6,3% Turnover: 0,2% | CAPEX: 6 890 OPEX: 3 012 Turnover: 8 203 | CAPEX: 10,1% OPEX: 6,3% Turnover: 0,2% | 0 | 0 |
8 | Total amount and proportion of taxonomy eligible but not taxonomy- aligned economic activities in the denominator of the applicable KPI | CAPEX: 6 890 OPEX: 3 012 Turnover: 8 203 | CAPEX: 10,1% OPEX: 6,3% Turnover: 0,2% | CAPEX: 6 890 OPEX: 3 012 Turnover: 8 203 | CAPEX: 10,1% OPEX: 6,3% Turnover: 0,2% | 0 | 0 |
Template 5 Taxonomy non-eligible economic activities | |||
Row | Economic activities | Amount 1 000 EUR | % |
1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 0 | 0 |
7 | Amount and proportion of other taxonomy-non-eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | CAPEX: 61 343 OPEX: 45 072 Turnover: 4 681 907 | CAPEX: 89,9% OPEX: 93,7% Turnover: 99,8% |
8 | Total amount and proportion of taxonomy-non-eligible economic activities in the denominator of the applicable KPI | CAPEX: 61 343 OPEX: 45 072 Turnover: 4 681 907 | CAPEX: 89,9% OPEX: 93,7% Turnover: 99,8% |
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Assurance statement auditor
Greenyard NV
Independent assurance report on selected environmental, social and governance performance indicators published in the Annual Report 2022/2023 of Greenyard NV for the year ending 31 March 2023
Greenyard NV
Document subtitle= Verdana Heading 12 0/0 single
Deloitte Bedrijfsrevisoren / Reviseurs d’Entreprises
Greenyard NV | 31 March 2023
Independent assurance report on selected environmental, social and governance performance indicators published in the Annual Report 2022/2023 of Greenyard NV for the year ended 31 March 2023
To the board of directors
We have been engaged to conduct a limited assurance engagement on selected environmental, social and governance performance indicators (“Selected Information”) published in the Annual Report 2022/2023 of Greenyard NV (“the Company”) for the year ending 31 March 2023. In preparing the Selected Information, Greenyard NV applied the criteria as specified in the table below. The Selected Information needs to be read and understood together with the Applicable Criteria.
The Selected Information in scope of our engagement are listed in the table below and are identified with in section “Data tables” of the Annual Report 2022/2023 as from p.148:
Selected Information | Applicable Criteria | |
Impact category | Indicator in scope of assurance | |
Energy | Energy Intensity | GRI 302-3 |
Total fuel consumption, by fuel type | GRI 302-1 | |
Total electricity consumption, by energy source | GRI 302-1 | |
GHG | Scope 1 GHG emissions | GRI 305-1 |
Scope 2 GHG emissions | GRI 305-2 | |
Water | Volume of effluent water discharged, by destination | GRI 303-4 |
Volume of freshwater consumption, by source | GRI 303-3 | |
Water intensity | Own indicator: The water use of the Frozen and Prepared divisions divided by their processed volumes | |
Share of grower base mapped for water risk | Own indicator: The share of volumes originating from regions with high, medium and low overall water risk according to the WWF Water Risk Filter. | |
Waste | Overstock & by-products for human consumption (charity) | GRI 306-4 |
Overstock & by-products for animal feed | GRI 306-4 | |
Volume of waste materials, by waste stream | GRI 306-4 + GRI 306-5 | |
Certification | Share of grower base certified for social compliance | Own indicator: The share of volumes from high and medium risk origins supplied by suppliers who are certified for social compliance according to the SIFAV basket of social standards |
Packaging | Volume of primary packaging, by material | GRI 301-1 |
Primary packaging material that is recyclable | Own indicator: The share of the total volume of packaging which is recyclable. Assumed is that glass, metal, paper and cardboard are 100% recyclable. For plastics the share of non- recyclable plastics is deducted. | |
1
Greenyard NV | 31 March 2023
Sourcing | Volume share of organic products | Own indicator: organic products refers to the volume share of certified organic products |
Volume share of Fair Trade products | Own indicator: Fair Trade refers to the volume share of certified Fair Trade products | |
Governance | Reported/registered breaches against the Greenyard Code of Conduct | Own indicator: Number of internal whistleblower reports which were founded and confirmed as breach against Greenyard’s Code of Conduct following internal investigations |
Lawsuits or fines for non- compliance with regulations related to wellbeing and social matters | Own indicator: Number of lawsuits or fines exceeding €5 000 for non-compliance with regulations related to wellbeing (incl. occupational health and safety) and social matters. | |
Lawsuits or fines for non- compliance with regulations regarding corruption and fraud | Own indicator: Number of lawsuits or fines exceeding €5 000 for non-compliance with regulations regarding corruption, fraud, (direct & indirect)bribery, money-laundering and financing terrorism. | |
SBTi | Number of suppliers with SBTi targets | Own indicator: Share of suppliers (by procurement spend, scope Purchased goods and services, upstream and downstream transport and logistics) committed to setting science-based targets |
Based on our work as described in this report, nothing has come to our attention that causes us to believe that the above-mentioned Selected Information as included in the Annual Report 2022/2023 of Greenyard NV, has not been prepared, in all material respects, in accordance with the Applicable Criteria.
Responsibility of the board of directors
The board of directors of Greenyard NV is responsible for the preparation of the Selected Information and the references made to it presented in the Annual Report as well as for the declaration that its reporting meets the requirements of Applicable Criteria.
The board of directors is also responsible for:
Selecting and establishing the Applicable Criteria;
Preparing, measuring, presenting and reporting the Selected Information in accordance with the Applicable Criteria;
Designing, implementing, and maintaining internal processes and controls over information relevant to the preparation of the Selected Information to ensure that they are free from material misstatement, including whether due to fraud or error;
Providing sufficient access and making available all necessary records, correspondence, information and explanations to allow the successful completion of the Services;
Confirming to us through written representations that you have provided us with all information relevant to our Services of which you are aware, and that the measurement or evaluation of the underlying subject matter against the Applicable Criteria, including that all relevant matters, are reflected in the Selected Information.
2
Greenyard NV | 31 March 2023
Our responsibilities
Our responsibility is to express a conclusion on the Selected Information based on our procedures.
We conducted our engagement in accordance with International Standard on Assurance Engagements ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standards Board (IAASB), in order to state whether anything had come to our attention that causes us to believe that the Selected Information have not been prepared, in all material respects, in accordance with the Applicable Criteria.
Applying these standards, our procedures are aimed at obtaining limited assurance on the fact that the Selected Information do not contain material misstatements. The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement and consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.
Our work was performed on the data gathered and retained in the reporting scope by Greenyard NV as mentioned above. Our conclusion covers therefore only the abovementioned Selected Information of the Annual Report 2022/2023 and not all information included in the Annual Report 2022/2023. The limited assurance on the Selected Information was only performed on the Selected Information covering the year ending 31 March 2023.
We are required to plan and perform our work to address the areas where we have identified that a material misstatement of the description of activities undertaken in respect of the Selected Information is likely to arise. The procedures we performed were based on our professional judgment. In carrying out our limited assurance engagement on the description of activities undertaken in respect of the Selected Information,
we performed the following key procedures:
Obtaining an understanding of the Company’s business, including internal controls relevant to collection of the Selected Information. This included inquiry with Greenyard NV management responsible for operational performance in the areas responsible for the data underlying the Selected Information;
Considering the risk of material misstatement of the Selected Information;
Performing analytical procedures;
Recalculation of relevant formula’s used in manual calculations and assessment whether the data has been appropriately consolidated;
Assessing management’s assumptions and estimates;
Examining, on a sample basis, internal and external supporting evidence and performing consistency checks on the consolidation of the Selected Information.
Read the narrative accompanying the Selected Information with regard to the Applicable Criteria, and for consistency with our findings.
We apply International Standard on Quality Control 1 and, accordingly, maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
In conducting our engagement, we have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
3
Greenyard NV | 31 March 2023
Inherent limitations of the Selected Information
We obtained limited assurance over the preparation of the Selected Information in accordance with the Applicable Criteria. Inherent limitations exist in all assurance engagements.
Any internal control structure, no matter how effective, cannot eliminate the possibility that fraud, errors or irregularities may occur and remain undetected and because we use selective testing in our engagement, we cannot guarantee that errors or irregularities, if present, will be detected.
The self-defined Applicable Criteria, the nature of the Selected Information, and absence of consistent external standards allow for different, but acceptable, measurement methodologies to be adopted which may result in variances between entities. The adopted measurement methodologies may also impact comparability of the Selected Information reported by different organizations and from year to year within an organization as methodologies develop.
Use of our report
This report is made solely to the board of directors of Greenyard NV in accordance with ISAE 3000 (Revised) and our agreed terms of engagement. Our work has been undertaken so that we might state to the board of directors those matters we have agreed to state to them in this report and for no other purpose.
Without assuming or accepting any responsibility or liability in respect of this report to any party other than the Company and its board of directors, we acknowledge that the board of directors may choose to make this report publicly available for others wishing to have access to it, which does not and will not affect or extend for any purpose or on any basis our responsibilities. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greenyard NV and its board of directors as a body, for our work, for this report, or for the conclusions we have formed.
Signed at Zaventem.
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises BV/SRL Represented by
Kurt Dehoorne Sofian Milad
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises BV/SRL
Registered Office: Gateway building, Luchthaven Brussel Nationaal 1 J, B-1930 Zaventem
VAT BE 0429.053.863 - RPR Brussel/RPM Bruxelles - IBAN BE86 5523 2431 0050 - BIC GKCCBEBB
Member of Deloitte Touche Tohmatsu Limited
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Data tables
2020/2021
Scale of the organisation* | Unit | like-for-like | 2021/2022 | 2022/2023 |
Total employees, by country* | FTE | 8 668 | 8 702 | 8 470 |
Austria | % | 1,5 | 1,5 | 1,5 |
Belgium | % | 30,7 | 32,1 | 32,4 |
Czech Republic | % | 3,1 | 3,2 | 3,3 |
France | % | 7,5 | 7,7 | 7,6 |
Germany | % | 9,1 | 9,0 | 8,8 |
Italy | % | 0,7 | 0,7 | 0,7 |
Netherlands | % | 17,4 | 17,4 | 18,5 |
Poland | % | 15,6 | 14,4 | 14,2 |
Spain | % | 1,1 | 1 | 1,1 |
United Kingdom | % | 9,5 | 9,3 | 8,1 |
United States | % | 2,6 | 2,5 | 2,7 |
Overseas sales & sourcing offices | % | 1,2 | 1,2 | 1,1 |
Environmental impact
2020/2021
Climate action1 | Unit | like-for-like | 2021/2022 | 2022/2023 |
Scope 1 GHG emissions** | Ton CO2-eq | 72 377 | 72 634 | 66 934 |
Scope 2 GHG emissions – Location based* / ** | Ton CO2-eq | 83 343 | 80 706 | 77 487 |
Scope 2 GHG emissions – Market based* / ** | Ton CO2-eq | 61 095 | 54 217 | 49 008 |
Scope 3 GHG emissions2* | Ton CO2-eq | - | 2 929 654 | 2 840 884 |
Total fuel consumption, by fuel type* / ** | MWh | 333 380 | 318 753 | 306 662 |
Natural gas | % | 77,8 | 77,2 | 74,9 |
Fuel oil for transport | % | 21,8 | 22,2 | 22,4 |
Fuel oil for heating | % | 0,4 | 0,6 | 2,7 |
Total electricity consumption, by energy source** | MWh | 296 099 | 306 119 | 296 605 |
Non-renewable energy from a variety of fuel sources | % | 90 | 89 | 84 |
Renewable energy self-generated or purchased | % | 10 | 11 | 16 |
Energy-intensity Long Fresh segment** | MWh/ton | 0,75 | 0,73 | 0,75 |
Share of suppliers (by procurement spend) committed to setting science-based targets | % | - | - | 12 |
GHG emission calculations are performed in May and make use of the most recent available emission factors from the different databases at the time of calculation.
Based on average-data method, except upstream transport were the distance-based method was used. Capital goods, employee commuting, processing of sold products, end of life treatment of sold products and investments are excluded due to their negligible share of emissions..
* As a result of an improvement in data collection, the 2021-22 figures have been restated from those published in the previous Sustainability Report.
** KPIs in scope of the limited assurance assignment by the statutory auditor for the year 2022/2023.
2020/2021
Water stewardship | Unit | like-for-like | 2021/2022 | 2022/2023 |
Volume of freshwater consumption, by source** | Million m³ | 4 083 | 4 161 | 3 988 |
Municipal water | % | 52 | 52 | 52 |
Groundwater | % | 47 | 47 | 47 |
Rainwater | % | 1 | 1 | 1 |
Water intensity Long Fresh segment** | m³/ton | 6,20 | 6,46 | 6,49 |
Volume of effluent water discharged, by destination*/ ** | Million m³ | 3 486 | 3 506 | 3 382 |
Surface water | % | 91 | 92 | 91 |
Third party | % | 9 | 8 | 9 |
Wastewater Chemical Oxygen Demand (COD) | Ton | - | - | 978 |
Wastewater Biological Oxygen Demand (BOD) | Ton | - | - | 893 |
Zero waste* | ||||
Volume of food donated to charities** | Ton | 2 112 | 3 344 | 4 877 |
Volume of by-products and waste materials, by stream*/** | Ton | 195 266 | 196 207 | 192 861 |
Waste to be re-used** | % | 59.6 | 61,6 | 58,0 |
Waste for recycling** | % | 36,9 | 35,3 | 38,6 |
Waste for energy recovery** | % | 3,2 | 2,9 | 3,1 |
Landfill or incineration without energy recovery** | % | 0,3 | 0,3 | 0,3 |
Volume of hazardous waste | Ton | 106 | 173 | 52 |
Circular packaging* / ** | ||||
Volume of primary packaging, by material | Ton | 65 782 | 61 236 | 65 532 |
Glass | % | 60,4 | 58,8 | 61,7 |
Metal | % | 13,7 | 16,5 | 15,0 |
Plastic | % | 20,3 | 17,3 | 15,8 |
Cardboard | % | 5,5 | 7,3 | 7,4 |
Wood | % | 0,02 | 0,01 | 0,1 |
Primary packaging material that is recyclable | % | 98,6 | 98,8 | 99,5 |
Sustainable agriculture** | ||||
Volume share of organic products Fresh segment | % | 5,4 | 7,3 | 7,3 |
Volume share of organic products Long Fresh segment | % | 3,6 | 4,4 | 4,5 |
* As a result of an improvement in data collection, the 2021-22 figures have been restated from those published in the previous Sustainability Report.
** KPIs in scope of the limited assurance assignment by the statutory auditor for the year 2022/2023.
Social impact
2020/2021
Responsible sourcing | Unit | like-for-like | 2021/2022 | 2022/2023 | |
Share of grower base in high and medium risk origins certified for social | compliance** | % | - | 77 | 80 |
Volume share of Fair Trade products Fresh segment* / ** | % | 1,5 | 1,7 | 1,6 | |
Health & nutrition | |||||
Value share of fruit & vegetable products | % | 94,2 | 93,8 | 93,8 | |
Reformulated products introduced with reduced salt or sugar levels | Number | 27 | 22 | 19 | |
Diversity & inclusion | |||||
Gender distribution amongst employees | |||||
Female | % | 39 | 39 | 39 | |
Male | % | 61 | 61 | 61 | |
Gender distribution amongst management | |||||
Female | % | 23 | 22 | 21 | |
Male | % | 77 | 78 | 79 | |
Unadjusted gender pay gap | % | - | - | 12 | |
Age distribution amongst employees | |||||
≤20 | % | 1 | 1 | 1 | |
21-30 | % | 16 | 16 | 16 | |
31-40 | % | 26 | 27 | 25 | |
41-50 | % | 29 | 28 | 29 | |
51-60 | % | 23 | 23 |