‘Where no potatoes are planted, none will grow.’ Bearing that farming wisdom in mind, in 2023 we embarked on an ESG journey with Agristo, the world-class West Flanders potato processor.
Our client: potato processor Agristo
Our challenge: a double materiality analysis with a view of CSRD compliance
Our solution: a tailormade ESG strategy, with distinguishing focus points
The potato industry is one of the pillars of the Belgian economy. Our country is at the heart of the European potato belt, a region where conditions for growing potatoes are ideal. Our food sector benefits fully from this strategic location. In recent decades, some Belgian potato processing companies have grown into global players. The introduction of the CSRD obliges a number of them to map all relevant ESG (or Environment, Social and Governance) themes transparently and in detail. Agristo came to Pantarein for this.
Pantarein bases ESG strategies on a thorough examination of double materiality. Some of the impacts, risks and opportunities (or IROs) are often specific to a sector. In the potato industry, and thus for Agristo, growing conditions are a good example: climate change, leading to alternating long dry periods and months of rain, puts pressure on crops. More resilient potato varieties are a response to that uncertainty.
From such a clear starting point, we can further focus on company-specific IROs. In each case, Pantarein bases its double materiality analysis on an extensive list of sources, to ensure reliability and objectivity. Internal sources may include company data or the results of a stakeholder survey, while external sources include, for example, third-party databases or internationally recognized frameworks. Because of this wide range, the IRO list (the longlist in which impacts, risks and opportunities are ranked according to their materiality for the company) is always tailor-made.
“Pantarein has built up many references in the food industry over the years. With Agristo, we were presented with an opportunity to delve into the potato sector. Together, we went through a thorough process leading to CSRD compliance, all the time maintaining the company’s individuality.”
Creating an ESG roadmap, ticking off the CSRD requirements one by one, is the next step. With a CSRD gap analysis, we highlighted the disclosures that the next report should focus on. And based on our input and advice, Agristo determined its targets: all of them elements that formed the company’s ESG roadmap. That roadmap provides Agristo with a compass for a sustainable transition, but that was not the end of our guidance: Pantarein pairs that tool with a sustainable narrative; the unique story of each company.
To write that storyline, we discussed what distinguishes Agristo from its industry peers with the ESG steering group: is it about employer branding, the product range, or perhaps chain responsibility? A smooth and visually appealing storyline was created around those spearheads, with Agristo’s characteristic witticism. All completely in line with the company’s graphic style and identity. It stands as an indispensable tool for anyone, internal or external, who wants to communicate with stakeholders about the company’s ESG efforts.
