Axelum Resources Corp., the country’s leading manufacturer of premium coconut products, made significant inroads with its environmental and sustainability program.
Axelum said in a disclosure to the stock exchange Tuesday it managed to reduce direct greenhouse gas emissions by up to 19 percent from manufacturing operations with the help of efficient diesel consumption.
Greenhouse gases trap heat in the atmosphere, resulting in a shift in the temperature.
The company recycled up to 20 percent of wastewater for other uses, including ground watering and sanitation of production areas.
It recently upgraded its state-of-the-art wastewater treatment plant to ensure compliance with international effluent standards.
Axelum utilized more than 44,000 metric tons of coconut shells as feedstock to fuel industrial boilers that generate culinary-grade steam under its waste management program.
It repurposed about 71 percent 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 is also actively exploring additional renewable energy sources for its Medina Plant in Misamis Oriental 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 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,” Chan said.
Axelum’s products cater to multinational food and beverage companies, confectioneries and bakeries. Its export markets include the US, Canada, Australia, New Zealand, Europe, the Middle East, Japan and other countries in Asia.
The share price of Axelum climbed 1.2 percent Tuesday to close at P2.61.