CORRECTION: AUGA group became the first Baltic issuer on the Nasdaq Sustainable Bond Network
Organic producer AUGA group became the first company in the Baltic States to join the Nasdaq Sustainable Bond Network. The new Nasdaq platform is designed for investors looking for opportunities to invest in sustainable companies.
The correction was made English announcement only.
AUGA group issued green bonds for Eur 20 million nominal value At the end of last year. This is the first fully privately-owned listed entity in the Baltic states to issue green bonds and one of the largest bond issues on the Nasdaq Baltic in terms of value and number of investors.
The Nasdaq Sustainable Bond Network and market are both among the first of this kind in the world. It distinguishes between three categories of bonds: Green, Social and Sustainable. International standards define Sustainable Bonds as loans used to finance projects that bring clear environmental and social-economic benefits. Green Bonds are defined as loans used to finance projects and activities that benefit the environment.
AUGA group has set itself a goal of minimizing greenhouse gas emissions from its operations. To accomplish this, the company is applying a closed-loop organic farming model that seeks synergies among different brands of agriculture and secondary use of organic waste in the farms. The company uses min-till technologies in most of its cultivated lands. These technologies protect soil from erosion, preserve biodiversity and reduce fuel consumption, thus reducing greenhouse gas emissions. Certified green energy produced from renewable energy sources is used in all production and administrative facilities.
The company measures greenhouse gas emissions from its operations. At present most of the emissions are from the use of fossil fuels, emissions from cultivated soil and cattle enteric fermentation. In order to reduce emissions in these areas, AUGA group is developing biogas application technologies to replace the fossil fuels used in agricultural machinery.
Crop rotation will be improved to achieve the increased proportion of crops with carbon sequestration and nitrogen accumulation properties. The company is also developing specialised feed technology to ensure forage preparation and feed composition in order to substantially reduce methane emissions from bovine enteric fermentation.