AXELUM Resources Corp. said that it cut its direct greenhouse gas emissions by up to 19% from manufacturing operations due to efficient diesel consumption.
“Greenhouse gases trap heat in the atmosphere resulting in a shift in temperature of the Earth’s climate,” the coconut product exporter and retailer said in a disclosure on Tuesday. “Axelum has made significant inroads towards climate change resiliency.”
The company added that it recycled up to 20% of wastewater, including ground watering and sanitation of production areas.
“Axelum recently upgraded its state-of-the-art wastewater treatment plant to ensure compliance with international effluent standards,” it said.
The listed firm said it used more than 44,000 metric tons of coconut shells as feedstock to fuel industrial boilers that generate culinary-grade steam.
“Moreover, Axelum repurposed approximately 71% of used Tetra packaging materials into 2,183 pieces of regular size chipboards, which served as alternative plywood and table dividers, to observe proper physical distancing within plant premises,” it added.
The firm said it is exploring additional renewable energy sources for its Medina plant to “support peak operating hours and limit dependence on traditional power.”
“Our climate action response forms a major part of our evolving sustainability agenda. Aligned with the goals of the Paris Agreement, we enacted a proactive approach to contribute to mitigating the effects of global warming,” Axelum Chairman and Chief Executive Romeo I. Chan said.
“For us, this is just the beginning of a long-term commitment to advancing sustainable development by integrating its principles deep within the context of our business,” he added.
The company is a fully integrated manufacturer, exporter and retailer of premium coconut products.
In the second quarter, Axelum’s attributable net income rose by 38.3% to P238.91 million from P172.81 million in 2021.
At the stock exchange on Tuesday, its shares ended higher by 1.16% or three centavos to end at P2.61. — Luisa Maria Jacinta C. Jocson