Ceres launched a new initiative called Food Emissions 50 to engage 50 of the highest-emitting publicly-traded food and agriculture companies in North America in accelerating the transition to net zero and achieving the goal of the Paris Agreement in the global food and agriculture sector.
Ceres published an investor statement of support and the list of the 50 focus companies that they plan to engage as part of Food Emissions 50 along with an initial benchmark analysis of the companies’ scope 3 emissions disclosures and emissions reduction targets.
The initial analysis shows that many companies are behind in tackling scope 3 emissions and there are many opportunities for this sector to increase efforts in supply chain.
This is a timely initiative that builds on the recent UN report that shows that climate change is here, is real and rapidly evolving, and more aggressive actions and commitments are needed from the highest emitting sectors.
It found 70% of the 50 companies do not disclose emissions from agriculture, and more than 80% do not disclose emissions from land use change. More than 60% do not include any scope 3 emissions in their emission reduction targets.