Graanul Invest Publishes its 2023 Sustainability Report

Graanul Invest, the world’s leading producer of sustainable biomass and bioenergy, proudly announces the release of its 2023 Sustainability Report. 

This comprehensive report underscores the company’s unwavering commitment to sustainability, safety, and environmental stewardship. Graanul Invest achieved multiple ESG milestones, including a reduction in SCOPE 1 greenhouse gas emissions, solid results in renewable energy production, and enhanced sustainability practices across its operations. The report highlights the company’s efforts to drive the green transition and support global climate goals, showcasing our achievements from the past year and demonstrating resilience and dedication.

CEO Nicholas B. Dottino stated: “Safety is paramount to us. We are committed to achieving zero work-related incidents and accidents. In 2023, we continued to produce high-quality, sustainable products with remarkable reliability, reaffirming our status as a leader in the bioenergy sector despite the year’s challenges. Graanul Invest celebrates its 20th anniversary with dignity and confidence, stronger than ever!”

2023 highlights:
Greenhouse Gas Emission Reduction:

  • Total GHG emissions amounted to 287,743 CO2e tons, including the first time the SCOPE 3 emissions.
  • Achieved a 11% reduction in Scope 1 emissions compared to 2022.

Renewable Energy and Efficiency:

  • Strong renewable energy and heat production results throughout six modern combined heat and power (CHP) plants in Estonia and Latvia
  • Implemented energy-saving projects, such as power factor corrections and upgrading facilities with state-of-the-art energy-efficient equipment.

Water Use and Conservation:

  • Implemented measures to reduce freshwater consumption in our CHP plants.
  • Adopted the reuse of extracted water, improving the environmental footprint.

Employee and Community Engagement:

  • High employee satisfaction scores with a strong emphasis on safety, training, and development.
  • Continued contributions to local communities and adherence to human rights and diversity principles.

Governance and Compliance:

  • Kickstarted an action plan towards Corporate Sustainability Reporting Directive (CSRD) compliance by 2026.
  • Material sustainability topics mapped through double materiality assessment.

Chief Sustainability Officer Mihkel Jugaste remarked: “Our sustainability performance and credibility were tested in 2023. Despite market and operational challenges, we upheld our principles, making significant strides in value chain digitalization and safety training. Our commitment to continuous improvement remains strong.”

Graanul Invest remains dedicated to its mission of fueling the green transition and phasing out fossil fuels, promoting the global use of renewable energy, and contributing to the climate goals outlined in the Paris Agreement.

Graanul Invest is a world-leading producer of sustainable biomass and bioenergy, operating twelve state-of-the-art pellet plants across the Baltics and the US, as well as six cogeneration plants in Estonia and Latvia. With a focus on sustainability, the company is dedicated to advancing the use of renewable energy and mitigating climate change.