Rising Emissions from Meat and Dairy Giants Ahead of COP28
As global leaders prepare for COP28 in Dubai, new analysis reveals that emissions from the 20 largest listed meat and dairy companies continue to rise. The analysis, conducted by the FAIRR investor network, shows a 3.28% increase in year-on-year emissions between 2022 and 2023. This data is concerning, considering that livestock is estimated to contribute around 14.5% of global greenhouse gas emissions. While some companies, such as Tyson Foods and Danone, have seen a decrease in emissions, it is outweighed by the rises from other industry giants.
Climate Commitments and Disclosure
The analysis also highlights the varying levels of climate commitments and disclosure among these companies. Only 4 out of the 20 firms have set net zero targets approved by the Science-Based Targets initiative. In terms of disclosure, 40% of the companies now publicly report Scope 3 emissions, which include emissions from the supply chain. This year, Tyson Foods and WH Group disclosed all scopes for the first time.
Urgent Need for Policy Focus
Jeremy Coller, Chair and Founder of the FAIRR network, emphasizes the urgent need for more policy focus on the food and agriculture sector. The failure of leading meat and dairy companies to reduce emissions underscores the importance of addressing environmental concerns in this industry.
In conclusion, the rising emissions from meat and dairy giants ahead of COP28 highlight the need for stronger climate commitments and increased transparency. As global leaders convene to address climate change, it is crucial for the meat and dairy industry to take significant steps towards reducing their environmental impact.
Implications of Rising Emissions from Meat and Dairy Giants for New Businesses
The escalating emissions from the 20 largest meat and dairy companies, as revealed by the FAIRR investor network, pose significant challenges and opportunities for new businesses in the food and agriculture sector. With livestock contributing to approximately 14.5% of global greenhouse gas emissions, these rising figures underscore the need for innovative solutions to address environmental concerns in this industry.
For new businesses, this presents an opportunity to differentiate themselves by prioritizing sustainability and transparency. The fact that only 4 out of the 20 firms have set net zero targets approved by the Science-Based Targets initiative indicates a gap in the market for businesses that can demonstrate a strong commitment to climate action.
Moreover, the increasing trend towards disclosure, with 40% of the companies now publicly reporting Scope 3 emissions, highlights the growing demand for transparency in the industry. New businesses that can provide clear and comprehensive reporting on their emissions could gain a competitive edge.
In conclusion, the rising emissions from meat and dairy giants ahead of COP28 highlight the urgent need for new businesses to prioritize sustainability and transparency. As the global community focuses on addressing climate change, businesses that can demonstrate a commitment to reducing their environmental impact could stand to benefit.