Integrated Report Shows Strong Progress For Company Against Strategic Objectives
Ravensdown’s 2022 Integrated Report published today shows the fertiliser co-operative owned by primary producers is tracking well against its strategic objectives.
- A 12 per cent reduction in carbon emissions from fertiliser against the previous year.
- A net reduction of scope 1 and 2 greenhouse gas emissions of 2,206 tonnes of carbon dioxide (14%) since the base year of 2018.
- Confirming plans to convert the company’s Dipton, Southland coal-fired combustor to biomass eliminating at least 1100 tonnes of greenhouse gas emissions per year, almost 10 per cent of Ravensdown’s direct carbon footprint.
- More than one million hectares of New Zealand farmland is now captured by the company’s proof of placement technology, enabling increasingly precise application of agri nutrients by Ravensdown customers.
- Approving plans for a $630,000 project to restore an ecologically and culturally valuable wetland adjacent to the company’s Napier facility, therefore helping improve Hawke’s Bay biodiversity.
- A $95 million profit, up from $52 million last year.
- Development of EcoPond, a technology with potential to almost eliminate methane emissions completely from dairy effluent ponds.
- Increasing the company’s equity from $492 million in 2020/21 to $609 million this year.
Ravensdown chair Bruce Wills said the company successfully overcame a wide range of challenges to help the country’s hard-working farmers and growers contribute the income required for a better New Zealand.
“Farmers and growers are both our customers and shareholders. They sit at the heart of everything we do. For our customers we supply the right amount of farm nutrients, and the right products and solutions to optimise production, while mitigating the impacts of land use on the environment. For our shareholders we use the power of the co-operative to enhance the value of their investment inside the farm gate.
“We ended the year in a healthy financial position. In the face of global pressure on supply, and domestic incentives for environmental improvement, we leveraged long held and carefully nurtured relationships to minimise supply disruption, while continuing to invest in services that support farmers.”
CEO Garry Diack said Ravensdown has a clear focus on its vision statement ‘Smarter Farming for a better New Zealand.’
“For us ‘good’ is meeting and exceeding our progressive pursuit of this vision. We do that on a sustained, planned basis, sharing that pursuit with all those who invest in us, work with us, work for us, use our products and services, and all those in society who live with the impacts of our endeavours.
“As proud as we are of our excellent company, there is still much to do to ensure our good performance remains aligned with, and where we can, leads in the fast-changing environment in which our farmers and growers operate.”
Ravensdown has produced annual integrated reports since 2018/19. Integrated reporting principles expand on traditional financial reporting and are founded on the concept that an organisation creates value for key stakeholders across manufactured, intellectual, human, social and relationship, and natural as well as financial capitals.