Afyren Releases Purpose Statement and ESG Commitments

Feb 17th, 2022

Following consultation with stakeholders and employees and interviews with suppliers, customers, institutions and partners, Afyren and its board of directors defined and formalized its purpose

Afyren has unveiled an updated company purpose, defining the company's ambitions, values and major commitments in a statement. As part of its environment, social and governance (ESG) program, Afyren also presented its new extra-financial rating.

Afyren's Purpose

Following consultation with stakeholders and employees and interviews with suppliers, customers, institutions and partners, Afyren and its board of directors defined and formalized its purpose: "We enable low-carbon, circular industry by providing biobased solutions built with our partners to benefit the environment."

Afyren's Commitments

The material ESG issues that Afyren identified with its stakeholders have been integrated into three pillars of essential commitments so that its purpose is reflected on a daily basis. Nine major objectives have already been defined in order to give the pillars operational meaning and measurable scope. During the coming year, these objectives will be developed and extended so as to lead to concrete policies with quantified performance objectives and monitoring indicators by the end of 2022.

Pillar I–Provide sustainable, high-performance, biobased solutions

Objective 1: place eco-design at the heart of our innovation

Objective 2: offer biobased, low-carbon alternatives to fossil-based resources

Objective 3: bring to market biobased or natural products with high societal added value

Pillar II–Enable a low-carbon, circular, and responsible industry

Objective 4: reduce our carbon footprint

Objective 5: preserve the planet and its resources by making our activities part of the circular economy

Objective 6: aim for excellence in all our business operations

Pillar III–Create an ecosystem of partners, building for the environment

Objective 7: guarantee a safe, motivating and fulfilling working environment for all our employees, without distinction

Objective 8: become fully engaged in developing the bioeconomy in our territories

Objective 9: cooperate with our external stakeholders

Afyren's Statement of Purpose explains how the company wants to "enable low-carbon, circular industry by providing biobased solutions built with our partners to benefit the environment."

At the beginning of 2022, Afyren obtained a rating of 66/100, an increase of 11 points from the previous year and ranking them as Advanced on the EthiFinance scale.

Caroline Petigny, Afyren's director of ESG and communication, said, "At Afyren, we are convinced that the key to sustaining our way of living is the necessary reduction of humanity's ecological footprint. This conviction has been reflected in our corporate vision since its inception. At the time of our transition to industrial-scale production, we wanted to take the time to formulate the purpose of our company. We defined it thanks to the committed and qualitative contribution of all our employees and external stakeholders. Afyren's business model is built around this Purpose with unique resources and know-how, which allow us to create value for our economy and our environment while relying on a clear mission, a well-defined strategy and strong values."

Nicolas Sordet, Afyren's CEO said, "We are very proud of the notable improvement of our extra-financial rating, which is the result of the unwavering commitment of all Afyren employees to sustainable development. We will continue to integrate this proactive and significant ESG approach into the company's development strategy."

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