SUSTAINABILITY

We know that commodity traders play a pivotal role in the decarbonization of the global supply chains and economy. That is why FEC pledges to integrate ESG criteria in its decision-making process and strives to play a pioneering role in the arena of small commodity trading firms. With this in mind, we are working on a comprehensive assessment that strives to take into consideration all the latest megatrends deemed as relevant by scientists in the sustainability sector. These include, for instance, ecosystem services and planetary boundaries. We want to understand how our company impacts on the environment and on society and how changes to these can potentially impact our Company’s business. This is the so-called concept of double materiality. We also plan to align with international sustainability reporting standards such as GRI, SDGs, SBTIs, SASB and we are working to integrate the EU Taxonomy for sustainable activities. This new assessment, that will be published shortly, will drive our sustainability efforts from 2023 onwards.

ENVIRONMENT (E)

The Company has decided to take progressive but concrete steps toward the integration of environmental sustainability within its business activity and operations. In 2022, the Company has had its carbon emissions calculated, certified and offset by a third-party agent for the first time. This step was a fundamental one in understanding our room for improvement concerning carbon avoidance and reduction measures that will be undertaken from 2023. We also commit to build and design a sound structure for the collection of sustainability-related data, deeply convinced of the fact that one cannot improve what is not measured.

We are aware that true, transformative sustainability is not limited to compliance and that offsetting carbon emissions must come after having done everything possible to avoid and reduce emissions. However, the management of the company has deliberated that FEC wanted to start having an impact as soon as possible in its small way. That is why we have offset the total of our estimated Scope 2 and Scope 3 CO2 emissions for 2022, thus becoming a carbon-neutral company. We know that numbers, especially tons of CO2 emissions, can mean little alone. To get a better idea of what a ton of CO2 corresponds to, please use this online calculator.

*Please note that emissions originating from the production and use of the products we trade are NOT measured under Scope 3 in the “Carbon Neutral Company” label

SOCIAL (S)

FEC aims at creating shared value in the communities in which it operates. This means that our goal is to advance the competitiveness of our Company while at the same time we look to advance the economic and social conditions of the communities in which we operate. On top of that, we engage in CSR activities including sponsorships, donations and volunteering.

GOVERNANCE (G)

Concerning the governance aspect (G), we expect all of our officers and employees to observe the highest standards of business ethics and respect all applicable laws. In exchange, FEC commits to respecting all rights of employees and associates and conducts annual risks assessment to identify and minimize job hazards that may pose a threat to the health and well-being of our collaborators.

CLIMATE PROTECTION PROJECTS
We are investing in one climate protection project to offset our CO2 emissions.

SUPPORT INDIGENOUS PEOPLE TO AVOID DEFORESTATION IN MATAVEN, COLOMBIA

Forests are, along with oceans and soil, Earth’s biggest carbon sinks. They are also the source of income, culture and identity of many populations, including the indigenous one in Colombia. FEC is supporting the biggest REDD project in Colombia to ensure that forest conservation is given a greater value than deforestation. Find out more here