We have presented our environmental performance using measures that we believe are relevant to our business and our stakeholders. In order to provide pertinent information in an accessible form, we have chosen to use the GHG (greenhouse gas) Protocol developed by the World Business Council on Sustainable Development (WBCSD) and World Resources Institute (WRI) and select indicators based on the Global Reporting Initiative's (GRI) G3 Reporting Framework.

Bunge has been engaged in mitigating carbon emissions for several years through investment in Clean Development Mechanism (CDM) projects, participation in European cap and trade markets, and via our carbon credit subsidiary, EcoinvestCarbon S.A. Our Brazilian operations have reported their emissions publicly using the GRI G3 Reporting Framework. This is the first year Bunge has reported its global carbon footprint. The results for 2007 are shown in the chart to the right.

With this first report, we hope to provide a basic snapshot of our emissions profile and present it in a format that is easy to interpret. We highlight our industrial emissions, some of the larger contributors to our indirect emissions and our renewable energy use.

Calculating Bunge's entire direct and indirect carbon footprint is a complex process with numerous considerations. Our goal is to increase the breadth and depth of our environmental reporting over time.

NOTES ON DATA Reported data are approximate and unaudited. Reported emissions are based on the WBCSD/WRI GHG Protocol and include the following: Scope 1: Direct GHG emissions from industrial and other Bunge-owned facilities (excludes emissions from the combustion of renewable biomass). Scope 2: Indirect GHG emissions related to electricity purchased by Bunge-owned facilities. Scope 3: Indirect GHG emissions related to chartered ocean freight. Renewable biomass: Gross amount of emissions related to use of renewable fuels in Bunge-owned facilities. Fuel types include rice hulls, sugarcane bagasse, wheat straw and plantation-raised wood, among others. The total lifecycle emissions for these fuels is zero. In Brazil, Bunge also uses legally cleared wood in some facilities. The use of this wood is considered non-renewable and is included in Scope 1. Bunge expects to use only renewable biomass at all of its current Brazilian facilities by 2012. Various emissions factors were used in these calculations. Publicly available factors were applied for convenience or when specific factors were unavailable. Sources include: Fuel values: Integrated Pollution Prevention and Control (IPPC) and WRI. Electricity: U.S. Department of Energy EnergyStar program; European Confederation of Iron and Steel Industries; EcoinvestCarbon S.A.; recent CDM projects under the Kyoto Protocol.