Del Monte
Group’s banana operations in Costa Rica have been awarded carbon neutrality certification by SCS
To coincide with Earth Day 2015, Del Monte Fresh Produce has concluded that its banana operations in Costa Rica have achieved carbon neutrality certification from SCS.
Del Monte has also confirmed its continued commitment to conservation through its reforestation/conservation programmes across all its farming operations worldwide.
Carbon neutrality certification covers the entire custody chain from Del Monte banana farms – consisting of 33 farms and 41 packing houses, totaling 10,653ha – up to the loading port in Costa Rica. Greenhouse gas emission audits were conducted by SCS Global Services and were based on the following four, widely accepted, standards:
• World Resources Institute’s Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition)
• Corporate Value Chain (Scope 3) Accounting and Reporting Standard: Supplement to the GHG Protocol Corporate Accounting and Reporting Standard
• Draft Costa Rican Standard 2013 “Metodología para la Cuantificación y Verificación de Remociones Forestales – Borrador”
• SCS’ Carbon Neutrality Requirements (a proprietary standard by SCS Global Services), June 2014
“We are very excited that our banana operations in Costa Rica achieved carbon neutrality status and were certified under these very stringent standards,” said Hans Sauter, vice-president corporate research & development and agricultural services of Del Monte. “With these satisfying results, we are now looking into replicating this experience in other operations.
“This certification validates the effectiveness of our environmental sustainability efforts and it comes on the heels of our recent sustainably grown certification by SCS of our banana and pineapple operations both in Costa Rica and Guatemala,” he added.
As part of the company’s commitment to offset its carbon emissions, Del Monte Fresh Produce continues to invest significant resources in maintaining nature reserves as well as planting trees in its operations worldwide.
It is estimated that by the end of 2015, a total of 7,578ha will be under protected status or reforested. This is in addition to the thousands of trees, many of them local species, which are donated every year to the schools and employees in communities where Del Monte operates.
SCS Global Services completes third-party audit of Fresh Del Monte’s plantations in Costa Rica and Guatemala
Worldwide certification body SCS Global Services (SCS) has announced that Del Monte Fresh Produce has received Sustainably Grown certification for all of its banana plantations in Costa Rica and Guatemala, as well as its pineapple farms in Costa Rica.
Receiving Sustainably Grown certification for these operations marks the culmination of a multi-year effort by Del Monte to improve and verify its sustainable farming practices in Central America through third-party assessment.
As a result, certified Del Monte pineapples and bananas will now feature the SCS Kingfisher Sustainably Grown certification mark in stores.
First introduced in 2003, the SCS Sustainably Grown certification programme is one of the world’s most strict standards for sustainable agriculture. The standard includes yearly auditing for compliance and emphasises continuous improvement, requiring certified farms to build on their sustainable practices over time.
“Sustainably Grown recognises agricultural operations that are on the cutting edge of sustainable farming,” said Dr Stanley Rhodes, founder and CEO of SCS Global Services. “Del Monte has proven that they are serious about growing bananas and pineapples in ways that minimise environmental impact while ensuring the health and safety of its workers and their communities.”
Del Monte farms receiving Sustainably Grown certification are audited to a rigorous set of environmental, social and quality criteria including, sustainable crop production, ecosystem management and protection, resource conservation and energy efficiency and integrated waste management.
Other factors taken into account include fair labour practices, community benefits, product quality, and product safety and purity.
“Del Monte Fresh is committed to embracing sustainable agriculture and making environmental conservation and fair labor practices a major part of our banana and pineapple supply chain,” said Hans Sauter, vice-president corporate research & development and agricultural services for Del Monte. “Achieving Sustainably Grown certification assures our customers that they are receiving produce that is grown in a responsible way.”
Certified Del Monte bananas and pineapples featuring the Sustainably Grown Kingfisher certification mark will begin appearing on store shelves in Europe and the United States in 2015.
Multinational fresh produce company reveals offer for up to US$175m in value of Its outstanding ordinary shares
Fresh Del Monte Produce has announced that it is commencing a modified “Dutch auction” tender offer to purchase its outstanding ordinary shares, subject to the terms and conditions of the tender offer.
The tender offer will expire at 11:59 pm, New York City time, on 2 December 2014, unless extended or terminated by the Company.
Fresh Del Monte is offering to purchase shares having an aggregate purchase price not exceeding US$175m.
“Pursuant to the tender offer, the Company’s shareholders may tender all or a portion of their shares (1) at a price specified by the tendering shareholder of not less than US$30.50 nor greater than US$34.50 per share, or (2) without specifying a purchase price, in which case their shares will be purchased at the purchase price determined in accordance with the tender offer,” the group noted. “When the tender offer expires, the Company will determine the lowest price within the range of prices specified above (the “purchase price”) enabling the Company to purchase the number of shares of its outstanding ordinary shares having an aggregate purchase price not exceeding US$175m.”
The group noted that shareholders would receive the purchase price in cash, subject to applicable withholding and without interest, for shares tendered at prices equal to or less than the purchase price, subject to the conditions of the tender offer, including the provisions relating to proration, “odd lot” priority and conditional tenders.
All shares purchased by the Company will be purchased at the same price, and all shares tendered at prices higher than the purchase price will be promptly returned to shareholders after the expiration of the offer and determination of the purchase price.
“The Company’s board of directors has authorised the tender offer,” the group confirmed. “However, none of the Company, the Company’s board of directors, the dealer manager, the information agent or the depository makes any recommendation to shareholders as to whether to tender or refrain from tendering their shares or as to the price or prices at which shareholders may choose to tender their shares. No person is authorised to make any such recommendation. Shareholders must make their own decision as to whether to tender their shares and, if so, how many shares to tender and the price or prices at which their shares should be tendered.”