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    BRFS3   BRBRFSACNOR8

BRF S.A.

(BRFS3)
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Brazil's BRF joins rivals in making 2040 zero carbon pledge

06/30/2021 | 01:21pm EDT

SAO PAULO, June 30 (Reuters) - Brazilian meat processor BRF SA on Wednesday pledged to slash its net carbon emissions to zero by 2040, seeking to elevate environmental standards in a bid to attract investments and better manage risk.

By announcing the new goal, BRF joins rivals like JBS SA , Marfrig and Minerva with similar sustainability goals.

The move is part of a plan to triple the size of the company by 2030, an effort that will require investments of 50 billion reais ($10.04 billion), executives said.

"The climate agenda is fundamental in the management of risk," said Chief Financial Officer Carlos Moura. That agenda is driving regulatory changes, he said.

"We know it is not going to be an easy trajectory," said Chief Executive Lorival Luz. "A goal of this magnitude demands participation of the entire supply chain."

Grazielle Parenti, the company's VP for corporate affairs and sustainability, said in an interview that BRF lagged Brazilian peers in announcing net zero targets because it was waiting to nail down clear commitments to the goal.

During a presentation, Parenti reiterated the company's goal to track 100% of grains purchased from the Amazon and Cerrado regions by 2025, a strategy aimed at avoiding suppliers linked to deforestation.

BRF, which processes pork and chicken and sells in 117 countries, said also it would launch a line of products that will be totally carbon free this year, but declined to go into detail.

The company also pledged to cut emissions by sourcing about 50% of its energy from renewable sources like wind and solar by 2030, up from about 3% currently. ($1 = 4.9816 reais) (Reporting by Ana Mano; Editing by Richard Chang and Aurora Ellis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BRF S.A. -2.12% 23.14 End-of-day quote.4.99%
JBS S.A. -1.30% 32.6 End-of-day quote.37.79%
MARFRIG GLOBAL FOODS S.A. -1.90% 21.22 End-of-day quote.46.24%
MINERVA S.A. -1.22% 9.72 End-of-day quote.-4.52%
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Analyst Recommendations on BRF S.A.
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Financials
Sales 2021 45 134 M 8 543 M 8 543 M
Net income 2021 344 M 65,1 M 65,1 M
Net Debt 2021 15 614 M 2 955 M 2 955 M
P/E ratio 2021 31,9x
Yield 2021 0,27%
Capitalization 18 706 M 3 524 M 3 541 M
EV / Sales 2021 0,76x
EV / Sales 2022 0,74x
Nbr of Employees 95 000
Free-Float 67,8%
Chart BRF S.A.
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Technical analysis trends BRF S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 23,14 BRL
Average target price 28,65 BRL
Spread / Average Target 23,8%
EPS Revisions
Managers and Directors
Lorival Nogueira Luz Global Chief Executive Officer
Carlos Alberto Bezerra de Moura Chief Financial Officer
Pedro Pullen Parente Chairman
Neil Hamilton dos Guimarães Peixoto Vice President-Quality, Research & Development
Vinícius Guimarães Barbosa Vice President-Operations & Supplies
Sector and Competitors
1st jan.Capi. (M$)
BRF S.A.4.99%3 524
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HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.-44.72%13 905
WH GROUP LIMITED-11.85%9 448