On 30 April 2021, we launched a new report to outline the latest developments from the engagement.
Click the button below to learn more about the progress that the six companies have made in addressing some of the most pressing climate concerns, such as setting GHG emission targets approved by the Science Based Targets initiative (SBTi) and mitigating the risks related to water scarcity and pollution.
The FAIRR Initiative and Ceres have developed company-level analysis, which is available exclusively to our Investor Members.
The latest analysis was published in April 2021.
For fast-food companies buying meat and dairy, these supply chain risks present growing challenges to their supply security, sustainability ambitions, brand and reputation, and financial growth.
The fast-food sector plays a dominant role in feeding our global population. On any given day around 84.8 million adults in the US, nearly one-third of the population, consume fast food. This sector continues to expand rapidly across developed and emerging markets. A significant portion of this consumption is linked to food items that wholly or partially involve meat and/or dairy products.
Across three key areas – greenhouse gas emissions, water and land use – animal proteins have a significant environmental footprint. In August 2019, the IPCC published a special report on climate change and land arguing that the global food system both contributes to global GHG emissions and is vulnerable to climate change impacts. This increasingly creates material reputational, operational and market risks for the companies buying animal protein-based products. Agriculture and land use constitute 24% of global GHG emissions, and meat and dairy supply chains are major contributors and are also among the biggest drivers of tropical deforestation. Their productivity will also be impacted by rising temperatures.
Main contact: Lily Stuart, Research & Engagements Manager
While five of the six companies have shown progress by setting GHG targets, they have all been much slower to address water scarcity and pollution risks among their meat suppliers.
In Phase 3 of this collaborative engagement, investors will be able to request that companies commit to key interim objectives identified during Phase 2 of the engagement. While these objectives differ for each company, we will broadly focus on plans to set targets related to water use and the quality of their meat and dairy supply chains. Additionally, investors will ask companies to implement a strategy to meet their emissions reduction targets and disclose a climate scenario analysis, which is aligned with TCFD recommendations.
See our briefing on these issues to understand how climate and water risks affect quick-service restaurants, and why investors should engage on this issue.
One of the greatest challenges facing the world today is to ensure that the growing population has access to adequate, sustainable and nutritious food.…
Growing global demand for meat and dairy products continues to place unsustainable burdens on our planet’s limited resources. Animal agriculture is linked to nearly…
Over 180 countries now impose a tax on tobacco, 60 jurisdictions tax carbon and at least 25 tax sugar. Is meat next in line?…