On the 30th of June, Graanul Invest published its Sustainability Report 2022. Despite pronounced market turbulence introduced by the conflict in Ukraine, the company continued to deliver on its record of operational excellence by proactively optimizing procurement and production to serve longtime customers without compromising our commitment to our core sustainability principles.
“While 2022 was a difficult year for many, Graanul Invest successfully navigated a changing macro environment to uphold our Company’s reputation with our customers for predictability, reliability, and dependability. For us, the year was defined by the volatile and elevated commodity prices, energy costs and spiking inflation introduced by the conflict in Ukraine. Questions about energy security have become more prominent than ever. The world understands that we need viable renewable energy solutions, and that the speed of those efforts and results needs to increase. Graanul Invest’s continued performance amidst this environment is a testament to the dedication of our team and to the critical role that Graanul Invest plays in the energy transition value chain,” said Graanul Invest CEO and Management Board Chairman, Nicholas B. Dottino.
Following bans on the import of forestry products from Russia and Belarus, the Company successfully absorbed the subsequent supply shock and continued its partnerships with supply partners to uphold its sustainable participation in the industry’s circular economy. Graanul Invest Chief Operating Officer, Jaano Haidla commented, “Following the start of the conflict in Ukraine, we substituted all feedstock imports from Belarus immediately and found new sources of supply. However, the task was not at all easy for the Company; many of the sawmills operating in the Baltic countries had a shortage of residues, and the availability of sawdust, an important raw material for Graanul Invest, decreased. Despite all this, we ended the year with good results without compromising our commitment to our core sustainability principles.”
Chief Sustainability Officer, Mihkel Jugaste added, “Reflecting on the year, we were once again proud of our production team’s efficiency and diligence in meeting the value chain’s dynamic demands, even amidst the ever-changing backdrop. Just like at the end of 2021, it was good to see in retrospect of 2022 that in this constantly changing background system, the efficiency of our production and diligence in fulfilling the requirements of the supply chain were exemplary.”