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Bunge South America SUSTAINABILITY Report Bunge South America 2018 LETTER CORPORATE ECONOMIC AND CREDITS AND ABOUT ABOUT SUSTAINABLE OPERATING GRI CONTENT FROM THE GOVERNANCE, ETHICS OPERATING STAKEHOLDERS CORPORATE 2 THE REPORT BUNGE AGRICULTURE ECO-EFFICIENCY INDEX CEO AND COMPLIANCE PERFORMANCE INFORMATION PRESENTATION [102-10, 102-16] Celebrating history and building the future Two hundred years of history is a reason for great pride. In 2018, we celebrated two centuries of contributing to feeding the world, and connecting people, markets, countries, and cultures. Along the way, Bunge adapted to different scenarios, created new lines of business and remained competitive. Our ability to reinvent ourselves and act ethically and responsibly makes a difference every day and strengthens our position in building the future. The Sustainability Report we present below provides 2018 indicators and information on Bunge South America’s (BSA) operations, and incorporates the company’s activities in Argentina, Brazil, Paraguay and Uruguay. This change in organizational structure has made us more agile, efficient and focused on increasing the supply of food and bioenergy. This report also describes Bunge South America’s 2018 projects and outcomes, reflecting our practices and the public commitments we have taken on in order to further improve our operations. Have a good reading! For comments and suggestions regarding this report and our management, please contact us at [email protected] [102-53] LETTER CORPORATE ECONOMIC AND CREDITS AND ABOUT ABOUT SUSTAINABLE OPERATING GRI CONTENT FROM THE GOVERNANCE, ETHICS OPERATING STAKEHOLDERS CORPORATE 3 THE REPORT BUNGE AGRICULTURE ECO-EFFICIENCY INDEX CEO AND COMPLIANCE PERFORMANCE INFORMATION CONTENTS Letter from the CEO ....................................................... 04 Sustainable Agriculture ................................................ 27 Certifications .........................................................................30 About the Report ........................................................... 06 Biodiversity and Non-Deforestation ...................................31 Materiality Process ...............................................................06 Engagement with Stakeholders ..........................................07 Operating Eco-efficiency ............................................... 32 Waste Management .............................................................33 About Bunge ................................................................... 11 Water Management ..............................................................34 External Commitments and Partnerships .........................12 Energy Efficiency ...................................................................34 Highlights of the Year ...........................................................13 Greenhouse Gas Emissions (GHG) .................................. 35 Recognitions ..........................................................................14 Launches ................................................................................15 Stakeholders ................................................................... 36 Employees..............................................................................37 Corporate Governance, Ethics and Compliance ......... 16 Occupational Safety ..............................................................40 Governance Structure ..........................................................17 Local Communities ...............................................................42 Code of Conduct ...................................................................18 Customers and Consumers ............................................. 43 Risk Management .................................................................19 Global Sustainability Guideline ........................................ 20 GRI Content Index .......................................................... 45 Economic and Operating Performance ....................... 21 Credits and Corporate Information ............................. 53 Agribusiness ..........................................................................22 Food & Ingredients ...............................................................22 Sugar & Bioenergy ................................................................25 Logistics ..................................................................................26 Suppliers ................................................................................26 LETTER CORPORATE ECONOMIC AND CREDITS AND ABOUT ABOUT SUSTAINABLE OPERATING GRI CONTENT FROM THE GOVERNANCE, ETHICS OPERATING STAKEHOLDERS CORPORATE 4 THE REPORT BUNGE AGRICULTURE ECO-EFFICIENCY INDEX CEO AND COMPLIANCE PERFORMANCE INFORMATION LETTER FROM THE CEO [102-14] The information covered in this concentrating the largest number Sustainability Report refers to of people among the companies in 2018, when we were organized into the group, 65% of the global assets, regional structures and, therefore, and more than 11,000 active this document contains information producers in our production chain. referring to Bunge South America Simplifying our structure was hard 2018 WAS A YEAR DEDICATED (BSA). BSA was created in 2018 work, but we were confident that we TO INTEGRATING SYNERGIES to consolidate and optimize the would become stronger and more company’s activities in Argentina, competitive as we executed the AND PROCESSES AND Brazil, Paraguay and Uruguay. company’s strategic priorities. The CONSOLIDATING THE A new organizational structure year’s results, despite the challenges STRATEGY FOR THE SOUTH change took place in May 2019 to of a complex political and economic consolidate our global value chains. scenario in South America, prove AMERICAN REGION” that we were right. We have taken 1 In short, we could say that 2018 significant steps to reposition RAÚL PADILLA CEO, Bunge South America was an intense year for Bunge. We ourselves in the world. We now have celebrated 200 years of history capital discipline, and increased worldwide, and implemented our agility, and we explore synergies, 1 new management structure. Bunge optimize processes and establish In May 2019, Raúl Padilla took over as president of Bunge’s global operations, according to an announcement made South America was born gigantic a strategic vision for the region. about the company’s new structure. LETTER CORPORATE ECONOMIC AND CREDITS AND ABOUT ABOUT SUSTAINABLE OPERATING GRI CONTENT FROM THE GOVERNANCE, ETHICS OPERATING STAKEHOLDERS CORPORATE 5 THE REPORT BUNGE AGRICULTURE ECO-EFFICIENCY INDEX CEO AND COMPLIANCE PERFORMANCE INFORMATION All of these changes took place in a challenging reduce operating costs and increase productivity, foreign scenario. The trade war between China as we prepared an IPO process, which was and the United States brought uncertainty to the postponed due to adverse market conditions. market, while Brazil and Argentina faced serious political and economic crises. Even in the face of We have also advanced our focus on growth by high volatility during the year and crop failures in continually balancing economic, governance and Argentina, Bunge South America’s Agribusiness socio-environmental aspects in the three company segment worked closely with producers to mitigate business units. In this sense, we made progress THROUGHOUT ITS TWO CENTURY market risks and deliver results. At the same time, in our commitment to eliminate deforestation of in Brazil, Bunge managed to tackle the 2018 Brazil global agricultural chains, including an innovative HISTORY, BUNGE HAS SHOWN truck drivers’ strike by managing risks and mitigating long-term funding initiative to help Brazilian farmers GREAT CAPACITY TO REINVENT its negative impacts on company operations. expand their production according to the criteria established in our Non-Deforestation Policy. ITSELF AND ADAPT TO DIFFERENT, In Food & Ingredients, we completed an important CHALLENGING SCENARIOS, AND reorganization to provide the business with a vision Finally, all of these results only make sense if we divided into categories, followed by a thorough ensure that people are safe in our operations. After 2018 SHOWED US WE HAVE A review of our product portfolio and reorganization completing our first global internal culture study on CONSISTENT TEAM THAT STAYS of the export area. Similarly, we completed the safety in 2017, we found that we are on the right track, STRONG IN OUR PURPOSE: global integration of Loders Croklaan, and became but we know that this is continuous work. For this leaders in oil ingredients to B2B customers. reason, we have engaged the entire Bunge leadership FEEDING A CONSTANTLY GROWING in coordinated efforts to promote and consolidate WORLD IN A SAFE, EFFICIENT Bunge Açúcar & Bioenergia went through a a change of behavior in the whole organization. challenging cycle. The harvest was characterized AND PROFITABLE MANNER. by more rewarding ethanol prices due to surplus We expect 2019 to present more positive marketing sugar production in the global market. We set aspects than the previous year, in light of the records for ethanol production and shipping, expected structural reforms in Brazil, the election of becoming more flexible in the face of the industry’s Argentina’s new president, and the de-escalation of price dynamics. We also invested in projects to the trade war between China and the United States. LETTER CORPORATE ECONOMIC AND CREDITS AND ABOUT ABOUT SUSTAINABLE OPERATING
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