Business Forum • 3 September, 2024 at 11:09 AM
Norofert, the leading producer of organic agricultural inputs and biotechnology provider for agriculture in Romania, listed on the Bucharest Stock Exchange on the AeRO market (BVB symbol: NRF), has collaborated with IFC, a member of the World Bank, to promote sustainable agricultural practices and reduce greenhouse gas emissions through the use of new agricultural techniques. With a market share of approximately 30%, Norofert covers over 200,000 hectares of organically farmed land and is the first issuer on the AeRO market with an ESG rating of 35.8, ranking 17th out of 56 companies in the agrochemical sub-industry analyzed globally, a rating obtained in 2022.
Alex Cristescu, Board Member, Norofert: "Norofert has benefited from IFC's expertise in advancing environmentally friendly agricultural practices and promoting the benefits of organic farming among key stakeholders, including farmers and credit institutions. Our climate neutrality objective is closely linked to our operational activities. Through our strategy, we aim to expand the base of farmers using organic inputs to contribute to the increase of organic regenerative farming areas, with beneficial effects on the environment. Our collaboration with IFC is an important step towards sustainable agriculture and reducing carbon emissions in Romania. The results of the IFC Tier 1 study indicate that Norofert's technology can reduce emissions by up to 50% compared to conventional inputs."
Cristian Nacu, IFC Senior Country Officer for Romania: ”At IFC, we recognize the critical importance of promoting Climate-Smart Agriculture (CSA) technologies and practices. These approaches are essential for helping farmers adapt to changing climate conditions while also reducing the environmental impact of agricultural activities. By supporting the adoption of sustainable farming methods, we aim to contribute to the resilience and productivity of the agricultural sector, ensuring that it can meet future challenges effectively.”
The collaboration with IFC supports Norofert in conducting comparative research to evaluate the impact of microbial inputs in soil on carbon emissions and CO2 sequestration, comparing various agricultural technologies, including conventional methods, no-till farming, and the use of cover crops (one of the most effective methods for reducing soil degradation).
The farm in Zimnicea serves as a research base for Norofert's technologies and plays a key role in combating climate change through soil carbon sequestration. The 1,000 hectares of organically cultivated land in Zimnicea are a significant asset for reducing the carbon footprint.
Norofert is the leader in regenerative agriculture research and one of the largest producers of inputs in Romania, founded in 2000 by the Popescu family. In the midst of expanding the production facilities to support sustainable agricultural practices, internationally, Norofert demonstrates commitment to the goal of climate neutrality and the ability to innovate in an area crucial to the future of agriculture and food security.
From 2020 the company is listed on the Bucharest Stock Exchange on the AeRO market and from October 2021 Norofert shares are included in the BETAeRO index. During the 4 years of activity in the capital market, Norofert raised RON 14 million through capital increases and RON 11.5 million through a private placement of corporate bonds. The company's corporate bonds are traded on the AeRO market of the Bucharest Stock Exchange under the symbol NRF25 starting June 5th, 2020.