- FIFCO: Expansive Sustainability was the showcase event to share FIFCO’s main ESG results for 2022, as well as the main trends in AI and Sustainability.
- The company’s novel climate action strategy encompasses damage and loss mitigation, adaptation and management actions.
July 7, 2023. Artificial Intelligence tools are an ally for Sustainability. This conclusion was drawn from the event held by Florida Ice & Farm Company (FIFCO), a beverage and food company, which presented the main results in Environmental, Social and Governance (ESG) for 2022, and analyzed with experts the immediate future offered by artificial intelligence in applications for Sustainability.
With an analysis and presentation prepared by specialists from Accenture, a multinational company with presence in 120 countries, and which has in Costa Rica the main headquarters of its innovation center for sustainability, the main applications currently being executed with artificial intelligence to promote ESG impact issues were shown. In addition, examples that allow companies of all sizes to use these technologies were presented.
Maria Pía Robles, FIFCO’s Corporate Relations Director, commented “Today we materialize our commitment to transparency and account for the company’s performance during 2022, making visible the progress achieved in our nine environmental, social and governance (ESG) goals set for 2025. Of these goals, we highlight our new Climate Action strategy, which defines a clear path of initiatives to mitigate, adapt to and manage the impacts of global warming. Further, together with experts, we explored the alternatives offered by Artificial Intelligence as a technological ally to enhance the sustainability agendas of companies of all sizes and business lines.”
“At Accenture, we are convinced that Artificial Intelligence is transforming industries, businesses and the way we live and work. Organizations that build a solid foundation of data and artificial intelligence will be better positioned to reinvent, compete and reach new levels of performance. At the same time, this technology also provides many solutions to help society become more sustainable. Intelligent systems can help organizations become more efficient and reduce their carbon footprint, manage energy sustainably, and build organizational mechanisms and cultures that integrate sustainability into everything an organization does,” pointed out Jorge Méndez, director of Accenture’s Innovation and Sustainability Study in Costa Rica.
New Climate Strategy
FIFCO reviewed the new climate change strategy presented in 2023, which identified damage and loss risks, mitigation actions, adaptation and management.
At the organizational level, this agenda will be addressed by the Corporate Risk Management and the Corporate Health, Safety and Environment Management.
As part of the commitment to accountability and keeping indicators updated according to new trends, FIFCO is in the process of implementing the use of indicators from the Task Force on Climate-related Financial Disclosures (TCFD). The objective of these indicators is to make climate change-related risks transparent, allowing you to take into account climate-related risks and how each organization is managing them.
2022 ESG Results
Accountability to its stakeholders is a priority for FIFCO. Since March 2023, the company made available online its most recent integrated report with 2022 information, main achievements and progress in ESG goals, all under the GRI reporting methodology, which was adopted since 2010 to present the information.
Among the main results, the following stand out:
Environmental
- In order to reduce the percentage of plastic placed on the market, we have reduced weights and redesigned packaging: in the last year, a total of 556 MT were reduced as a result of lightweighting.
- Currently, 75 out of every 100 products placed on the market are in packaging other than plastic.
- This year, FIFCO’s Post-Consumer Container Recycling Program was able to recover 119% of the plastic containers placed in the market. This means that for every 10 bottles placed in the market, 10 were recovered, plus 2 additional ones from other companies.
- The company continues to be water positive, i.e. we return 20% more water to the water system than we use in our processes through watershed protection, compensation mechanisms and payments for environmental services.
- The company’s core operation is carbon positive and zero waste to landfill.
Social
- The Multidimensional Corporate Poverty Index measurement was applied for the third time within the company.
- FIFCO ratified its commitment to inclusion and respect for the LGBT population by signing the San José Declaration.
- In 2022, 996,000 volunteer hours were completed. An update as of May 2023 showed that the goal of one million hours was reached.
- The Integral Smart Consumption program continued, which promotes good consumption habits and practices among collaborators and consumers.
- Dual Training: Its various business units continue implementing different programs hand in hand with the National Learning Institute (INA), making FIFCO a success story in Costa Rica under this modality.
Governance
- During the reporting period, FIFCO conducted an evaluation process of its Board of Directors, as established in the Corporate Governance Regulation, SUGEF Agreement 16-16. The evaluation assessed how actively the Board of Directors fulfills its responsibilities and if the set of skills and experiences of its members objectively provide the guidance the company requires.
- FIFCO conducted an ESG maturity diagnosis with PWC, from which best practices in the implementation process are derived.
At FIFCO we adopted expansive sustainability
- It seeks innovative solutions to social and environmental challenges.
- It emphasizes creativity, systemic thinking, interdisciplinary collaboration and continuous learning to develop comprehensive and sustainable approaches.
- It goes beyond damage prevention; it is a new way of thinking that invites us to be resilient and generate positive and lasting changes.
About FIFCO
FIFCO is a beverage and food company with 115 years of history, and operations in Costa Rica, Guatemala, Mexico, El Salvador and the United States, 7 manufacturing plants and 15 distribution centers. It has 3 business divisions that include “Florida Bebidas” (food and beverages), “Florida Hospitality” (real estate) and “Florida Retail” (retail sales). It exports to 18 countries around the world and has a portfolio of 1,500 products.
Carlos Morales, FIFCO Corporate Communications Manager
