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ANNUAL REPORT 2019 SUSTAINABILITY REPORT 2019

CREATING SUSTAINABLE VALUE

A mission we want to share with society

Responsible management of our business is driven by ethics and integrity in the way we manage our operations, our people and our stakeholder relations. 

Sustainability is a key value for The Navigator Company and the framework of reference for strategic development of its business.From forest to paper, a sustainable cycle is reflected in an extensive value chain that touches on several different sectors of Portuguese society.

We involve our stakeholders in assessing and reflecting on the trends and challenges that affect us, with regard to the main environmental and social topics on the global sustainability agenda, seeking to integrate their expectations and interests in the Company's Sustainability Agenda.

MESSAGE FROM CHAIRMAN AND CEO

Dear Shareholders,

In 2019, The Navigator Company reinforced its commitment to corporate, social and environmental sustainability as one of the most relevant values of its business model.

In fact, sustainability is in Navigator's DNA, materialising in the most diverse areas of its activity, with emphasis on the sustainable management of the approximately 109,000 hectares of forest that it directly manages, the significant investment it makes in the environment, research and development, the professional growth of its people and its constant commitment to local communities.

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Who we are and what we do

The Navigator Company is an integrated forest producer, whose end products are pulp & paper, tissue and energy. Its operations are based at modern, large scale industrial units that use state-of the-art technology and are a benchmark for quality in the sector. The Navigator Company produces pulp and paper from forests which are planted exclusively for this purpose. The Company's business model is founded on a prime-quality raw material - Eucalyptus globulus - whose intrinsic characteristics have allowed it to develop a strategy centred on distinctive top-of-the-range products. These are international standard-setters in the industry.

STRATEGIC COMMITMENTS

In a fast changing world, The Navigator Company believes it has a role to play in building a more sustainable future, by sharing value and knowledge with its stakeholders. 

Sustainable woodlands

Forests are a source of economic prosperity and a driving force for rural and regional development. They are a living home for biological diversity, essential to environmental quality and crucial to the landscape. Forests are a strategic priority for Navigator.

In 2019, the Company managed 108 269 hectares of woodlands Portugal, in 18 districts up and down the country, and allocated direct spending of more than € 33.5 million in the forest value chain.

This strategy is an important factor for sustainability, helping to improve the quality of Portuguese producers, inducing employment, stemming population drift from inland regions and contributing to local taxes. At the same time, it represents Navigator's contribution to promoting Portugal's woodlands, ensuring they are better managed, less frequently abandoned and better able to perform their environmental function as the prime terrestrial system for sequestering CO2.

Decarbonisation

The Navigator Company's Roadmap for Carbon Neutrality envisages a 90% reduction in CO2 emissions by 2035, by producing 100% of its electricity needs from renewable sources, cutting fossil CO2 emissions by substituting technologies and achieving a 15% reduction in specific energy consumption. The 10% of emissions which cannot be eliminated will be offset, by increasing yields in eucalyptus woodlands and planting indigenous forests, and through Navigator's other forestry products.

In 2019, the Company committed itself to an ambitious target: to have all its industrial complexes neutral in carbon emissions by 2035, which will involve investment totalling € 158 million, of which € 24 was already invested in 2019.

Ties with the community

Closer community involvement. This was the aim with which, in 2019, Navigator stepped up its programme of cooperation, dialogue and support, that over the last thirteen years has been a key feature of the Company's corporate culture.

This policy of community engagement has remained a strategic priority for Navigator, with a view to strengthening a business venture that creates value for society and makes a direct and active contribution to sustainable development of forest and the regions where it operates. Community investment totalled € 1.8 million in 2019.