- About us
- IBJ Awards
- Free Sample
- Contact us
Global ag companies to accelerate towards net-zero emissions
(Posted on 02/11/21)
Ten of the world’s biggest global agricultural trading and processing companies have issued a joint statement committing to a sectoral roadmap by COP27 for enhanced supply chain action consistent with a 1.5°C pathway.
The companies – ADM, Amaggi, Bunge, Cargill, Golden Agri-Resources, JBS, Louis Dreyfus Company, Olam, Wilmar and Viterra – manage large global trade volumes in key agricultural commodities, including more than half of both Brazilian soy exports and global palm oil trade. The statement, which will be announced at the World Leaders’ Summit on Forests and Land Use at COP26, signals a commitment to take urgent collective action to include other key stakeholders in their supply chains. The goal is to identify solutions at scale to further progress on eliminating commodity-driven deforestation and reducing greenhouse gas emissions (GHG).
The Intergovernmental Panel on Climate Change estimates that 23% of global GHG emissions are associated with land use, including 11% of global GHG emissions from deforestation and the conversion of natural ecosystems. The commitment from these companies builds on the existing initiatives to define a pathway to meet the 1.5°C targets, working with other supply chain actors and governments. This collaboration will focus on how to scale up support and incentives for smallholders and farmers, increase traceability to indirect suppliers, and better track scope 3 emissions.
The joint statement comes following a roundtable meeting in October convened by US Special Presidential Envoy for Climate John Kerry and UK Secretary of State for the Department of Business, Energy and Industrial Strategy (BEIS) Kwasi Kwarteng, supported by the Tropical Forest Alliance and the World Business Council for Sustainable Development. Ongoing collaboration continuing to COP27 will be supported by these actors.
Alongside the announcement from these ten companies, a joint statement from 28 governments will be announced at COP26 via the Forest, Agriculture and Commodity Trade (FACT) Dialogue Roadmap for Action. This joint statement calls for governments to increase sustainable agri-commodity trade while protecting forests and other critical ecosystems.
Recent evidence shows that there is no pathway to the 1.5°C targets set out in the Paris Agreement without halting forest loss and improving the livelihoods of producers. The joint statement signals a recognition of the critical role played by businesses working in agricultural commodities.
The Government of Canada HAS awarded C$18.1 million from its Low Carbon Economy Fund to Rio Tinto&rsquo... Read more
Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply... Read more
Mike Henry, Chief Executive Officer, reviewed the Company's operating and financial performance:&ldquo... Read more
Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose... Read more
Australia’s two largest iron ore producers and its biggest steelmaker have partnered in their... Read more
The lithium market is experiencing a period of transition as demand growth slows and the industry adjusts... Read more
The top economist for the cement, concrete, and construction industries anticipates the U.S. economy... Read more
ADM, a global leader in sustainably sourced solutions from nature, has announced that it has loaded... Read more
Mineralmahlwerk (MMW) Hamm, one of the largest processors of mineral raw materials in Europe, and Handels... Read more
Dampier Salt Limited (Dampier Salt) has entered into a sales agreement for the Lake MacLeod salt and... Read more