Achieving the Paris Agreement goal of limiting global temperature rise to no more than 1.5°C above pre-industrial levels will not be possible without a substantial reduction of greenhouse gas emissions in the food sector. Most of these emissions are embedded in the production of key agricultural commodities and fall under scope 3, or indirect, emissions from the supply chains of companies that source, manufacture, distribute, and sell agricultural products.
Investor participants of Food Emissions 50 act to accelerate progress towards a net zero future in the food sector. By engaging 50 of the highest-emitting public food companies in North America, these investors seek to move companies to improve their greenhouse gas emissions disclosures, set ambitious emission reduction targets, and implement ambitious climate transition plans in line with the Paris Agreement.
Recognizing the need for sector-wide action, investor participants of the Food Emissions 50 initiative and the Land Use and Climate Working Group establish a common high-level agenda for companies to reduce emissions across the food supply chain. Investors seek commitments from the focus companies’ boards and senior management to:
Disclose GHG emissions across their entire value chain and set science-based emission reduction targets aligned with 1.5 °C.
Develop and disclose comprehensive climate transition plans for reducing emissions in line with what is needed to limit warming to 1.5 °C.
Implement the actions identified in those plans and disclose progress.
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