Renewable Energy Group (REG) (NASDAQ: REGI) is pleased to announce the issuance of its 2020 environmental, social and governance (ESG) report. In a year with so much disruption and hardship, the company felt it was more important than ever to support the environment, its employees and society.
“In 2020, REG was in the right place at the right time, providing essential clean energy to the transportation sector,” said REG President & CEO, CJ Warner. “As consumers and businesses are increasingly recognizing a responsibility to be a part of the energy transition, there is strong desire to act now. REG is making real and immediate carbon reductions and stands ready to grow and innovate in order to meet increasing demand.”
The new report details the company’s 2020 ESG performance. Highlights include:
REG took early action in response to the pandemic, forming a COVID-19 Emergency Response Team in February 2020. Some of the many measures included:
- Implementing a remote-work policy for those able to work from home
- Instituting plans at each REG location for: social distancing; personal protective equipment; workspace disinfection; updating ventilation systems; and developing visitor protocols
- Creating metrics to track employee health, supply status, and business impact and providing regular employee communication and information on developments related to the pandemic
- Establishing a paid-time-off policy for employees affected by COVID-19 and “return-to-learn” plans for employees with school-age children
- Supporting communities financially and through volunteer efforts
REG took these precautions while continuing to produce high-quality, low-carbon biodiesel, renewable diesel and REG Ultra Clean® — fuels that allow customers to immediately reduce emissions and can be used in existing diesel engines. Areas of sustainable success in 2020 included:
- Producing 519 million gallons of biofuel, which generated 4.2 million metric tons of carbon reduction
- Increasing our average biodiesel with petroleum diesel blend to 13%, allowing for greater displacement of petroleum diesel and improved carbon reduction
- Utilizing 14 different feedstocks, primarily waste and derived from over 100 suppliers, demonstrating our advanced capabilities related to feedstock flexibility
- Updating our environmental management system to streamline and enhance management and analytical capabilities
- Advancing our downstream strategy, making low-carbon solutions more accessible to end-users
In 2020, REG continued to build upon a company culture that values our employees, partners and communities by:
- Completing a large, coordinated effort to execute a major scheduled maintenance project at the Company’s renewable diesel plant in Geismar, Louisiana in the midst of a pandemic, with no known COVID-19 transmissions and zero recordable injuries
- Creating an Inclusion & Diversity Council, BIPOC (Black, Indigenous and people of color) Council and Women’s Council for REG employees
- Donating to over 170 causes focused on our philanthropic areas of emphasis, including youth, health and the environment
- Volunteering over 2,000 hours in communities across the world through volunteer time off hours provided to all REG employees
REG also expanded its focus on governance in 2020 through initiatives with the Board of Directors and Senior Leadership Team. Highlights from 2020 include:
- Renaming one of the Board committees to Nominating and ESG Committee and updating its charter to assume oversight of the company’s incorporation of broader ESG issues in its approach and strategic thinking
- Reorganizing the REG Senior Leadership Team, with the creation of new Senior Vice President roles to help accelerate the company’s growth
To learn more about REG environmental, social and governance efforts, read the 2020 report at regi.com.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is one of North America’s largest producer of biodiesel and an industry leading producer of renewable diesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering over 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to REG’s expectations regarding carbon reduction, market demands, our readiness to grow and innovate, the success and continuity of our ESG initiatives, the implementation of our downstream strategy, and statements regarding changes to our organizational structure and the potential impacts of changes to our senior leadership team and Board. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially are described in REG's annual report on Form 10-K for the year ended December 31, 2020, quarterly reports on Forms 10-Q and from time to time in the REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations, except as required by law.
© 2021 Renewable Energy Group, Inc. All Rights Reserved.
Renewable Energy Group