The Valens Company Inc.
Climate Impact & Sustainability Data (2021-08-31)
Reporting Period: 2021-08-31
Environmental Metrics
Social Achievements
- Improved employee engagement at Trophy Foods Inc. (prior CFO's experience)
Governance Achievements
- Appointment of two independent directors: Dr. Guy Beaudin and Drew Wolff.
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impacting biomass shipments, demand for products, and overall market uncertainty.
- Breach of financial covenants under the credit facility.
Mitigation Strategies
- Transitioned personnel to home-based platforms where feasible, implemented social distancing and PPE measures.
- Entered into a second amending agreement with lenders, receiving waivers for covenant defaults and consent for relief.