Press Release | Axelum Resources Corp. | May 9, 2023
Axelum cuts direct carbon footprint in 2022
Planned initiatives to reinforce decarbonization efforts
Axelum Resources Corp. (PSE: AXLM), the country’s leading fully-integrated manufacturer, exporter and retailer of globally in-demand consumer food essentials, primarily best-in-class premium coconut products, continues to fortify its climate contributions.
For 2022, Axelum managed to decrease its direct carbon footprint by 5%, mainly attributed to lower tonnage of coconut shells used as feedstock to fuel industrial boilers that produce culinary-grade manufacturing steam. Axelum has modernized its boiler equipment to enhance steam output by up to 80% without additional shell requirements.
“We are witnessing the evolving impact of climate change with the increased frequency and severity of natural disturbances happening in different parts of the world. In response, we have proactively undertaken adaptive measures to mitigate the effects of global warming and other climate hazards within our business,” stated Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp.
In terms of carbon sequestration, Axelum organizes tree-planting activities including growing napier grass in its organic community farm to promote reforestation, the most basic form of climate protection. Based on independent studies, grasslands behave as active carbon sinks by absorbing carbon underground. Since 2017, Axelum has planted approximately 4,400 mahogany and bamboo seedlings within surrounding areas as part of its sustainability efforts. In addition, Axelum is finalizing plans to install solar panels in its manufacturing plant to support peak operating hours and reduce dependence on traditional energy sources.
To date, Axelum is studying the feasibility of adopting international reporting methodologies to further assess its climate risks and gather deeper insights towards instituting a long-term carbon neutral program.
