Main own plant-based brands
- Saputo exposure’s to animal proteins is significant. According to their 2018 CDP disclosure, more than 80% of their total revenue is dependent on dairy.
- The company has publicly recognised the growing market for plant-based products and the company has stated that although they consider opportunities to enter into this market, their emphasis remains on the expansion, development and innovation of dairy products.
- The company currently has no exposure to plant-based and/ or alternative protein products despite this being a significant market opportunity.
- Saputo has assessed its Scope 3 emissions, which includes emissions from sourced dairy and has carried out a climate-related risk assessment in 2018 in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations to assess the company’s complete value chain. However, we found do detail on the outputs of the assessment including the impacts related to the company’s dairy portfolio.
- However, we found no detail on the outputs of the assessment including the impacts related to the company’s dairy portfolio, and Saputo does not have a Scope 3 target and has provided no indication that it is developing one.
- Given Saputo’s ambitions for international expansion, the company’s exposure to risks in its dairy supply chain will continue to increase. We would encourage the company to broaden its sustainability focus to address the environmental impacts of dairy production and embark on a protein diversification strategy to transition its product portfolio in line with a low-carbon strategy.
Many thanks for giving us the opportunity to provide feedback.
We have no comment on the assessment.