POET, the world’s largest producer of biofuels and a leading producer of bio-based products, is proud to announce the release of its inaugural sustainability report, which outlines the company’s focus on environmental, social and governance (ESG) initiatives.
POET established several ESG goals, including the achievement of net-zero carbon at its bioprocessing facilities by 2050. In addition, POET pledges to ensure that its renewable, plant-based bioethanol reduces greenhouse gas (GHG) emissions by at least 70% compared to gasoline by 2030. According to a recent study, today’s bioethanol reduces carbon emissions by 46% compared to gasoline.
“Sustainability has always been at POET’s core. We recognize that our planet urgently needs bolder solutions and better results if we hope to restore harmony between human and nature and sustain Earth’s fragile balance for future generations,” said Jeff Broin, POET Founder and CEO. “Now more than ever, it is critical that we embrace the bioeconomy, significantly reduce our dependence on fossil fuels, and harvest our energy from the surface of the Earth.”
The report’s initiatives include investing in the latest biotechnology, advancing operational efficiencies and promoting a sustainable society through both POET’s business ventures and its philanthropic endeavors. The report, titled The Sun, the Soil and the Seed, also reflects on the company’s nearly 34-year journey as a pioneer in the renewable energy sector, detailing the company’s progress in developing biofuels and a growing suite of plant-based bioproducts while maintaining a tradition of environmental stewardship, technological innovation, and world-class workplace culture.
“At POET, our solution to the climate crisis lies at the intersection of regenerative agriculture, renewable innovation, and effective public policy,” Broin said. “By outlining our vision for sustainability, we aim not only to position POET for long-term success, but to help blaze a trail toward global decarbonization through net-zero biofuels and bioproducts.”