RICHMOND, Va., Dec. 19,
2024 /PRNewswire/ -- Universal Corporation (NYSE:UVV)
("Universal" or the "Company"), a global business-to-business
agriproducts company, announces the release of its 2024
Sustainability Report which details the progress that it has made
on key sustainability priorities.
"When we define "success" at Universal, we look at more than
just our financial performance. We also place a great weight on our
ability to enhance our global sustainability efforts and to report
those efforts publicly and transparently," said Preston Wigner, Universal's Chairman, President,
and CEO. "Simply put, sustainability is not just good business, it
is the right thing to do. Our 2024 Sustainability Report reflects
the value we place on sustainability and highlights the actions we
have taken to be successful."
Over the last 12 months, Universal has made significant
achievements and progress towards its sustainability goals:
Progress Towards Environmental Goals
- Planted more than 14 million trees around the world and
achieved 71% traceability in its timber supply chain, moving the
Company closer to its target of 100% traceability by 2030.
- Entered into a Virtual Power Purchase Agreement for renewable
energy from a solar power project to offset 100% of electricity use
in the United States by 2026.
- Reduced absolute scope 1 and 2 emissions by 15 percent from the
Company's 2020 baseline and are on track to reach its reduction
target set with the Science Based Target Initiative of 30 percent
by 2030.
- Recycled more than 23,000,000 liters of water and implemented
water recycling for non-potable water and irrigation needs.
Continuing Support for Communities
- Trained over 175,000 farmers on Good Agricultural Practices and
Agricultural Labor Practices.
- Contributed over $800,000 to
various community organizations through the Universal Leaf
Foundation.
Progress Towards Social Goals
- Substantially met the Company's goals for its contracted
farmers of 100% personal protective equipment distribution, 100%
farm labor accommodations, 0% child labor, and 100% minimum wage
threshold for farm workers for the second year in a row.
- Adopted and implemented a Behavior-Based Safety Program to
improve workplace safety and conducted over 21,000 health and
safety inspections, which represents a 40 percent increase over the
prior year.
Universal's 2024 Sustainability Report discloses the Company's
sustainability performance from April 1,
2023 to March 31, 2024. It was
prepared with reference to Global Reporting Initiative Standards
and aligns with the United Nations Sustainable Development Goals.
The report is available at:
http://universalcorp.com/Practices/SocialResponsibility.
Universal Corporation (NYSE: UVV) is a global agricultural
company with over 100 years of experience supplying products and
innovative solutions to meet our customers' evolving needs and
precise specifications. Through our diverse network of farmers and
partners across more than 30 countries on five continents, we are a
trusted provider of high-quality, traceable products. We leverage
our extensive supply chain expertise, global reach, integrated
processing capabilities, and commitment to sustainability to
provide a range of products and services designed to drive
efficiency and deliver value to our customers. For more
information, visit www.universalcorp.com.
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SOURCE Universal Corporation
