China Mengniu Dairy Co Ltd
2319:HK KYG210961051
Key Information
HQ:
China
Market Cap:
$18.29bn
Primary Market:
Asia
Company Information
Company Summary
China Mengniu Dairy and its subsidiaries manufacture and distribute quality dairy products in China. It is one of the leading dairy product manufacturers in China, with MENGNIU as its core brand. Danone Group, which owns a 9.9% stake in Mengniu, is Mengniu's second largest strategic shareholder. Inner Mongolia Mengniu Danone Dairy Co Ltd ('Mengniu Danone') is a joint-equity company held 80% by Mengniu and 20% by Danone.Revenue
Total revenue:
$13.7bn
Revenue by Geography
Revenue by Protein
Revenue by Product Type
Disclosures
CDP ScoresLast Reviewed: 11/10/2023
CDP Climate | CDP Forests | CDP Water |
---|---|---|
Yes | Yes | Yes |
Science Based Target initiativeLast Reviewed: 03/10/2023
Target classification | Status | Date |
---|---|---|
Has not set SBT | - | - |
Coller FAIRR Protein Producer Index
Analysis Overview
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins
Analysis Breakdown
Risk Score
41/100
Medium Risk
Greenhouse Gas Emissions
34/100
Scope 1, 2 & 3 Target
40/100
Type of Target
The company discloses that the capital expenditure in 2023 for Thailand and overseas operations totalled THB 25,000 million (excluding capital expenditures for mergers and acquisitions). However, it does not mention that the expenditure aligns with its GHG targets.
0/3
Strength of Target - Non-SBT
The company commits to establishing environmentally friendly green production systems and achieving carbon neutrality in the whole industrial chain by 2050 and peak carbon emissions by 2030. It has set Scope 1 and 2 intensity targets per tonne of dairy product. It will achieve carbon neutrality in Scope 1, 2 and 3 in 2050.
2/2
Innovation on GHG Emission Reduction
20/100
Innovation to Reduce Agriculture Emissions
The company has initiatives covering emissions reduction in its operations, but there is no evidence that it is engaging directly with suppliers to reduce emissions from agriculture.
0/1
Feed Farming Innovation
The company does not engage in innovative projects to reduce or mitigate emissions from feed farming
0/2
Animal Farming Innovation
The company has developed a carbon management plan and designed carbon reduction pathways for pastures, which include adjusting feed composition and structure, managing and optimizing herd structure, optimising manure management and improving the energy utilisation efficiency of pastures. It also provided carbon reduction-related support for pastures. It discloses that the company has a carbon management plan that includes adjusting feed composition and structure to reduce methane emissions with additives and purchasing feed ingredients from local areas to reduce the carbon emissions from feed transportation.
1/2
Quality of GHG Inventory
50/100
Quality and scope of GHG inventory Completeness
The company discloses 253,700 tons of Scope 1 and 1,172,000 tons of Scope 2 emissions in the reporting year.
1.25/1.5
Feed & Animal Farming Emissions
The company discloses emissions from enteric fermentation of 321,400 tons, and emissions from manure management were 141,200 tons in the reporting year.
0.5/2
Transparency of GHG Inventory
The company has responded to the CDP Climate Change Questionnaire. It mentions that the subsidiary - China Modern Dairy has greenhouse gas emission verification issued by China Classification Society Certification Co., Ltd. China Modern Dairy, as a raw milk supplier and a subsidiary of China Mengniu, contributes to Mengniu's Scope 3 emissions.
0.75/1.5
Emissions Performance
25/100
Overall Emission Performance
The company discloses an increase in carbon emissions of nearly 4.9% from 1,360,000 tons of carbon dioxide equivalent in 2021 to 1,430,000 tons in 2022. It discloses an almost identical level of Scope 1 and 2 carbon emission intensity per kg of the product since 2018. Hence, it can be assumed that the emission increase results from an increased production volume. It mentions that the carbon emissions from manure management of its subsidiary - China Shengmu, has been reduced to 141,200 tonnes in 2022. China Modern Dairy - a subsidiary of China Mengniu, also disclosures a decrease in carbon emission intensity of manure management by 10.4% in 2022.
1.25/5
Climate-related Scenario Analysis
35/100
Climate-related Scenarios Analysis Conducted
The company discloses the potential climate-related risks that the company may face in the future based on the shared socioeconomic pathways (SSP) adopted by the IPCC. It identifies influential factors regarding warming, sea level rise, extreme climate, climate policies, energy technology changes, land utilisation and dietary habits. It chooses SSP1 (strict path) and SSP5 (high emission path) to analyse climate scenarios.
1/1
Disclosure of Analysis Results on Material Risks
The company recognises the impact of heat stress on animals and its negative effect on milk production. It participated in the compilation and release of "Heat Stress Prevention and Control of Dairy Cows" and "Quality Standards for Whole Plant Corn Silage Production". It also discloses having an emergency rescue plan for heat strokes. The company announced that it invested RMB 600,000 in the use and rental of generators due to the shortage of electricity caused by the dry weather and mentioned that its factories will adjust the production strategy and activate the generators to ensure the electricity supply in response to the high-temperature weather. It discusses carbon taxes but does not discuss the risks these pose in the context of electricity or animal protein. It also discusses assessing financial risks but does not disclose the number of material events.
0.75/3
Disclosure of Financial Material Events & Alignment of CAPEX
The company mentions the proportion of renewable and clean energy as one of the key measures to achieve peak carbon by 2030 and carbon neutrality by 2050. It has invested more than RMB 15 million in energy-saving facilities in 2022, mainly for energy-saving mechanical and electrical equipment upgrading, energy consumption online monitoring, waste heat recovery, steam pipeline upgrading, etc. However, it does not mention the commitment to align capital expenditures with GHG targets.
0/1
Deforestation & Biodiversity
53/100
Deforestation/Conversion-free Target - Soy for Animal Feed
51/100
Risk Assessment to Identify High-risk Locations
The company publicly discloses that it does not directly source soy and does not operate dairy farms. However, the company also states that ranches it sources from use soybean meal as feed for dairy cows. It encourages soybean meal suppliers to trace soybeans and prioritise soybeans not linked to deforestation. The company also discloses that all soybean meal feeds of China Shengmu will come from organic soybean planting areas with no risk of deforestation or risk of land conversion. In addition, COFCO International, the leading soybean meal supplier of Mengniu's Aiyangniu platform, announced that by the end of December 2021, it had achieved 100% traceability of all soybeans directly purchased from Matopiba, which is an important soybean production area in Brazil. However, the company does not disclose that all soy is sourced from 100% deforestation-free feed suppliers. Mengniu discloses it is conducting a risk assessment of soybean forest risks. However, the company does not disclose high-risk sourcing locations.
0.13/0.5
Strength of Deforestation Commitment
The company states that it is working with the World Economic Forum's Tropical Rainforest Alliance to commit to eliminating the risks of deforestation and forest degradation in the procurement process of palm oil, soybeans, paper and other commodities. Alongside this, the company states that it aims to formulate and release a "Forest Protection Policy" to continuously reduce the risk of deforestation and commit to achieving the goal of zero deforestation by 2030. The company does not disclose a cut-off date in relation to its deforestation-free commitment.
0.9/2
Regional & Operational Coverage of Commitment
The company's Forest Policy applies to raw and auxiliary commodities with deforestation risks such as timber products, palm oil and soybean meal. The policy includes the company's deforestation free commitment and as such, this applies to all sourcing regions.
1.25/1.25
Transparency - Progress Against Commitment
The company discloses its subsidiary - China Shengmu sources 100% soybean meal feed from organic soybean planting areas without deforestation risk and land conversion risk. However, the company does not disclose the proportion of soybean meal feed used from China Shengmu. It plans to adopt third-party certification within the next two years for soybeans. Further, the company has responded to the CDP forest questionnaire 2022. However, this is not publicly available.
0.25/1.25
Engagement, Monitoring & Traceability - Soy for Animal Feed
55/100
Supplier Engagement
The company discloses that it has established a soybean supply chain with "zero deforestation and zero vegetation damage". The company's Forest Protection Policy references biodiversity protection and eliminating deforestation risks by conducting special management on procuring timber, palm oil, soybean meal and other products. It encourages suppliers to obtain third-party certifications such as RTRS responsible soybean certification and provides them with training so that suppliers comply with its Forest Protection Policy. The company does not state that it provides financial incentives to encourage deforestation conversion-free production.
1.25/1.25
Compliance monitoring & Traceability
The company strictly complies with the "Forest Law of the People's Republic of China" to achieve zero deforestation and encourages suppliers to obtain third-party certifications such as RTRS responsible soybean certification. It also mentions that compliance management is a part of the supplier management process and is undertaken through supply chain mapping, training and the development of control procedures. The company discloses that 61 municipalities have achieved 100% traceability of direct procurement of soybeans to the origin and the company commits to achieve full traceability of soybeans, by 2030.
1.25/3.25
Feed Innovation
The company states that it has begun to explore and practice renewable agriculture. One subsidiary, China Shengmu, utilises manure as an organic fertiliser to improve soil health during feed farming. Alongside this, the company states that it prioritises local feed sources such as corn pellets and grass produced around the pasture.
0.25/0.5
Water Use & Scarcity
21/100
Water Use & Scarcity in Facilities
33/100
Monitoring Water Consumption & Withdrawals
The company has established a water resources distribution map to assess water-scarce regions in China. However, the company has not disclosed that its processing facilities only operate in areas of low water stress. It has established a water resources distribution map to assess water-scarce regions in China and to guide the construction and expansion projects. However, the company does not disclose processing facilities that operate in locations with high or medium water stress. It implemented 15 water-saving processes to explore the potential of water conservation systematically and to give full focus to the application of water resources. The company discloses water consumption in 2022.
0.25/0.75
Target to Reduce Water Consumption & Withdrawals
The company has an intensity-based target to reduce water consumption by 6% by 2025 (compared to 2020) per ton of dairy products. The company also discloses that water consumption reduced by 1.54% year-on-year in 2021 and 3.53% year-on-year in 2020.
0.5/1
Disclosure & Performance of Water Risks in Facilities
The company discloses water consumption in FY22. However, the company does not disclose water withdrawal by source. It discloses that in 2022, it invested more than 200 million yuan in ecological and environmental protection, completed 21 key renovation projects, and supervised the discharge of pollutants from 38 sewage treatment plants of the group. However, the company does not explicitly report the amount spent on sewage treatment plants. It has responded to the CDP water questionnaire 2022. However, the reports are not publicly available. The company reports that the total water consumption has decreased in 2022. However, the company does not disclose water withdrawals.
0.88/3.25
Water Use & Scarcity in Feed Farming
10/100
Supplier Engagement in Water Use in Feed Farming
The company is one of the leading dairy manufacturers and distributors in China and sources feed from suppliers. It states in its supplier code of conduct that suppliers should regularly quantify their water consumption and be committed to reducing energy and water consumption from all sources. The company states that it helped 156 pastures, where feed is produced, to improve feed management, but it is unclear what support was provided by the company.
0.5/2.5
Disclosure of Water Risks in Feed Farming
The company explores and practices renewable agriculture. However, it does not disclose specifically how this investment in regenerative agriculture mitigates water scarcity risks.
0/2.5
Water Use & Scarcity in Animal Farming
20/100
Supplier Engagement in Water Use in Animal Farming
The company does not disclose the proportion of animal protein commodities produced and sourced in water-stressed areas. It has revised its supplier code of conduct which requires suppliers to comply with various environmental protections. Within this document, the company states that suppliers should be committed to reducing energy and water consumption from all sources. The company also provides some discussion about working with animal farmers to reduce the water used. It states that it helped ranches which supply cattle to adopt water-saving measures, however the company does not provide further detail.
1/3
Disclosure of Water Risks in Animal Farming
The company has not established partnerships with third parties to input into sourcing/farming strategy, including water use.
0/2
Waste & Pollution
27/100
Wastewater at Facilities
32/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
The company does not disclose the number of incidences of non-compliance with water quality permits, standards, and regulations. It discloses the location of processing facilities with the level of associated water quality. The company discloses the total volume of wastewater it treated and the general waste intensity. However, the company does not disclose a volume target.
0.2/1.5
Transparency on Water Pollution Risks
The company discloses COD discharge, BOD discharge and ammonia nitrogen discharge in tonnes for 2022. The volume of wastewater discharged in 2022 was 28,061,900 tonnes. The company responded to CDP Water Security 2022. However, the reports are not publicly available.
1/2
Performance on Wastewater Quality & Volume Discharged
The company's Chilled Product business unit utilises the biogas generated from the anaerobic system of the sewage plant. The company reports that there was an improvement in the BOD discharge from in 2022 . However, the levels of COD and ammonia nitrogen increased in the same year. Its total wastewater discharge also increased in 2022.
0.4/1.5
Nutrient Management in Feed Farming
21/100
Supplier Engagement in Nutrient Pollution Risks
The company mentions that it encourages suppliers to establish a management system for animal farms, grass farms, and processing factories, covering environmental factors, regular monitoring and investigation of the quality of soil, water and air, and regularly evaluating farms and factories. The company has a management system for pesticides, veterinary drugs and other chemicals and has set up a list of qualified and selected suppliers for procurement. It states that it has a requirement for water pollution management of pasture feed suppliers and to develop pollution plans. However, it is unclear if this involves the use of nutrient management plans.
0.5/4
Innovation to Improve Nutrient Management in Feed Farming
The company discloses that it uses biogas slurry as fertiliser for its feed crops, however, it is unclear if the company favours feed grown using its own fertiliser. The company does disclose that one subsidiary, China Shengmu, employs regenerative agriculture to grow crops. The company discloses that suppliers are expected not to use pesticides banned by the state in which it operates. However, the company does not provide further details about pesticide use.
0.56/1
Manure Management in Animal Farming
26/100
Disclosure of Pollution Risks from Manure
The company states that it converts manure into renewable energy which is then used at its own facilities. The company states that one subsidiary, China Shengmu, returns cow manure to the field in a harmless manner to restore degraded soil and improve soil health. However, as a whole the company does not disclose that slurry from biogas production or manure from animal production is applied using a nutrient management plan.
0.56/1.25
Supplier Engagement in Manure Management
The company states that it continually guides partner pastures in the effective use of dairy manure to reduce the use of artificial fertilisers, reduce manure emissions and improve soil quality at the pasture sites.
0.75/1.5
Innovation to Improve Nutrient Management in Animal Farming
The company discloses that it has adjusted feed composition and structure to avoid excessive protein intake. However, the goal of this seems to be to reduce the emissions from manure as opposed to reducing the excretion of nutrients.
0/2.25
Antibiotics
13/100
Policy on Antibiotics Use
25/100
Policy on Antibiotics Use
The company has committed to following local antibiotic usage regulations and has implemented a strategy to reduce disease incidence and improve animal welfare. This includes strict control over veterinary drugs, veterinary training, vaccination programmes, and emergency protocols to curb epidemic spread. It also focuses on preventative methods such as biosecurity measures, improved breeding techniques, probiotic usage for better animal health, and reduced stocking density. However, it fails to address the matter of routine mutilation.
1.25/5
Disclosure of Quantity of Antibiotics Used
0/100
Disclosure of Quantity of Antibiotics Used
The company has issued a statement on antibiotic stewardship. However, it does not disclose the quantity of antibiotics used or the specific reasons for their usage during the reporting period.
0/5
Animal Welfare
56/100
Animal Welfare Policy
43/100
Welfare Policy
The company supports the Five Freedoms and has developed an "Implementation System for Dairy Cow Welfare Promotion." It commits to employee training on dairy cow welfare, covering aspects like milking protocols and health issue identification. The company collaborates with the "Golden Key of Dairy Cow" campaign and has a regional demonstration farm for animal welfare. It has also released a group standard for dairy cow welfare in China.
1.25/2
Key Welfare Issues
The company commits to enhancing animal welfare through its subsidiary China Shengmu, ensuring each cattle has 60-80 square meters for activities and providing a comfortable environment for dairy cows through daily cleaning, work and rest schedules, and various amenities. However, it only states that animal welfare during transportation is considered without disclosing specifications or maximum transportation time.
0.9/3
Assurance & Certification
30/100
Auditing & Assurance by an Animal Welfare Organisation
The company's 9 dairy farms were awarded "S-Level Dairy Farm in Modern Dairy Industry Evaluation and Grading" in 2022. Additionally, 5 dairy farms were certified by China Good Agricultural Practice (GAP). The company states that its subsidiary, China Shengmu, has five dairy farms certified by China Good Agricultural Practice (GAP). However, China Shengmu only represents a portion of the company's overall operations.
1/4
Public Reporting on Welfare
The company annually reports on varying animal welfare key performance metrics. However, only the incidence of mastitis is consistently tracked over a three-year period.
0.5/1
Performance on Key Material Risks
95/100
Performance on Key Material Welfare Risks by Protein
The company prioritises animal welfare in its dairy operations, conducting daily health checks and monitoring rates of lameness and mastitis. It prohibits tethering and employs a Cow Comfort Management System to reduce stress. Its subsidiary, China Shengmu, adopts low-density, low-stress feeding and implements measures to improve cattle welfare on pasture.
4.75/5
Working Conditions
50/100
Human Rights
30/100
Strength of Policy
The company commits in writing to follow all internationally recognised human rights policies, including ILO conventions.
1/1
Due Diligence Process
The company does not explicitly discuss how it assesses actual and potential human rights risks. That said, it does discuss monitoring labour rights in its supply chain through an ESG risk assessment. The company carries out ESG training and improvement plans based on these assessment results. It also requires suppliers to make rectifications within a specific period and follow up on improvements promptly. However, the company needs to discuss how it monitors and reviews respect for human rights and identifies the following action steps in its operations.
0.5/3
Evidence of Remediation
The company does not disclose whether it found any human rights risks within its operations in the reporting year.
0/1
Fair Working Conditions
56/100
Policy for Direct Operations
The company commits in writing to prohibit discrimination, child labour and forced labour. In addition, the company's Supplier Code of Conduct includes requirements for suppliers to prohibit discrimination and harassment, child labour and promote freely chosen employment. However, it does not state that it prohibits harassment in its operations or promotes fair wages in its operations and suppliers. Further, whether the company conducts audits covering these policy commitments is unclear. The company also does not explicitly disclose providing sick pay to its workers.
1.4/3
Monitoring & Discosure
The company discloses that it joined Sedex’s responsible business platform and that 21 of its 1,346 suppliers have completed a SMETA third-party audit, which includes the protection of labour rights.
The company has a grievance mechanism, open to internal and external stakeholders and uses the annual employee and trade union representative conference to collect expected proposals. However, although the company mentions that details of the complainant will be kept confidential, it is still being determined whether employees can file their complaints anonymously. The company discloses that two grievances were reported and resolved in the reporting year but does not categorise these.
1.4/2
Safety & Turnover Data
63/100
Committee representation of workers
The company has an occupational health and safety management system aims to improve safety management continuously. Also, 49 of its factories have obtained the GB/T 45001-2020/ISO 45001:2018 occupational health and safety management system certification. However, whether the company utilises health and safety committees with worker representatives is unclear.
0.4/2
Disclosure of safety and turnover data
The company discloses that 5,399 hours were lost due to work-related injuries in the reporting year, whilst 6,730 hours were lost in the previous year. The company also discloses no deaths from work-related accidents in the past three years. The company also states that the turnover rate 2021 was 15.4% but does not disaggregate this by seniority.
2.75/3
Freedom of Association
50/100
Strength of Policies
Under the law, freedom of association is not permitted in China, meaning some of the company’s operations are exempt from the question. The company has various communication channels to support alternative methods of employee representation in China, such as collective consultation, the Workers’ Congress, and the Labour Dispute Coordination Committee. In addition, the company expects its business partners to uphold their employees’ right to freedom of association and collective bargaining where applicable. However, the company does not discuss freedom of association policies and statistics for its overseas operations, including those in Australia, New Zealand, and Indonesia.
2/3
Disclosure of Collective Bargaining Metrics
The company does not discuss the percentage of workers covered by collective bargaining agreements or provide a statement clearly explaining its stance on collective bargaining.
The company discloses it employs 47,297 full-time and 32 part-time employees.
0.5/2
Food Safety
58/100
Food Safety System
45/100
Certifications
The company states that 100% of factories obtained ISO 9001 certification, and 100% of dairy factories received HACCP certification. Further, 100% of the five fresh milk factories have obtained the dual system certification of BRCGS and IFS, and 100% of the four milk powder factories are SQF-certified, GFSI-recognised standards. Since sites have multiple certifications, the proportion of total GFSI-certified sites can not be determined. It discloses that 100% of raw and auxiliary material suppliers must obtain quality management system certification. The company's leading suppliers have already obtained food safety certifications such as ISO 9001, ISO 22000, and GFSI-recognised standards FSSC22000 and BRCGS. It has 1,346 suppliers, but it discloses that only 100% of procured raw material suppliers have food safety certifications. Therefore, it needs to be clarified which proportion of total suppliers were certified by a GFSI-recognised certification. It is inferred that up to two-thirds of suppliers are GFSI-certified in total.
2.25/3.5
Performance
The company states that it carries out internal and external quality management audits. However, the number and frequency of food safety-related audits are not explicitly mentioned. Further, the corrective action rate is not disclosed. It has developed traceability technology covering the whole process from raw milk to consumers. However, it seems this technology is not consumer-facing.
0/1.5
Product Recalls & Market Bans
70/100
Product Recall Systems
The company has developed "Mengniu Product Traceability Management System" and "Product Recall Management System" to improve the traceability and recall mechanism for three-level control. The first recall needs to be initiated within 24 hours with a written report and completed within ten working days; the secondary memory must be commenced within 48 hours, and a written notice is formed within 20 working days; the third-level recall must be initiated within 72 hours, and a written report is included within at least 30 working days. It had zero product recalls in 2022.
3/3
Performance
The company does not disclose information on market bans; no market bans were found on the media screen.
0.5/2
Sustainability Governance
58/100
Assessment of a Company's Sustainability Governance
58/100
Board Sustainability
The company has a Sustainable Development Committee comprising board members such as the president, vice president and CFO. The committee oversees the sustainability strategies, goals and risk profile, determines the sustainability policy, and reviews critical internal ESG management data. In addition, the company has conducted a materiality assessment and gives a detailed description of the materiality process. The company mentions that it has selected 28 strategic issues most helpful for achieving its ESG goals. These topics are determined based on reviews by the company's Sustainable Development Committee, which includes board members and experts. It identifies quality control, greenhouse gas management, and water resource management as the areas of the highest importance. The company has board members with expertise in sustainable development and innovation. However, it is still being determined if there is board-level expertise in food safety.
1.75/2
Incentives & Policy Engagement
The company does not mention whether it sets executive monetary remunerations linked with sustainability performance.
The company discloses it has cooperated with the Food and Agriculture Organization of the United Nations, the Global Dairy Platform, the International Dairy Federation and other international organisations to discuss reducing greenhouse gases in the dairy sector. The company also cooperated with the China Dairy Association to drive improvements in animal welfare in the industry. The company also states that it has set the strategic goal to achieve net-zero carbon emissions by 2050 in line with the 1.5-degree pathway set out in the Paris Agreement. Furthermore, it demonstrates its commitment to achieving this by engaging with various initiatives, such as the Pathways to Dairy Net Zero promoted by the FAO. However, the company only provides a partial list of trade association memberships.
0.65/2.5
Innovation & Benchmarking
The company discusses innovation in many ways, from product innovation to technological innovation projects. The company states that it greatly emphasises product quality and has innovated new products focusing on product differentiation. The company also won the "Daily Fresh Language Key Technology and Product Innovation" award. It continuously innovated its product packaging, wherein it plans to optimise the packaging to become more sustainable. Furthermore, the company has one board member, Mr. Ge Jun, with expertise in driving innovation. The company also recognises its inclusion in a number of sustainability benchmarking indexes, including the Coller FAIRR Protein Producer Index.
0.5/0.5
Alternative Proteins
40/100
Diversification of Products to Alternative Protein Sources
40/100
Existing product portfolio
The company acknowledges that plant-based products can effectively improve the industry competitive position of enterprises or organisations and effectively adapt to changes in consumer preferences. It also states that plant-based milk products are essential to help the company meet its dual-carbon goals and seize future market opportunities. However, it does not report sales or revenue linked to alternative protein sources or disclose a timebound target to diversify protein sources.
0.5/2.5
Investing for future growth
The company has launched "Zhiqing" plant-based ice cream. It also discloses in its 2021 Biodiversity Report that it operates "Oatist", a plant-based beverage with a low glycemic value and rich in dietary fibre. However, it has not disclosed any further updates on this product in recent reports. It mentions it will increase the proportion of plant-based milk products as an essential step according to its dual-carbon strategy. It will keep up with industry trends by conducting market insights, increasing R&D intensity and product reserves to seize future market opportunities. However, the company is encouraged to disclose further information regarding R&D in this product segment.
1.5/2.5
Members-only Content
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Workstream Information
2023 Risk Score:
41/100
Level:
Medium Risk
Ranking:
19/60
Main Protein:
Dairy
Assessed Proteins:
Dairy
Company Feedback Given:
Yes
Last Updated:
31 October 2023
2023 Resources
2023/24 Index Report Summary (Mandarin) 报告总结摘要(中文) Launch of the Coller FAIRR Protein Producer Index 2023/24 2023/24 Company Dialogue Questions 2023/24 Full Report Coller FAIRR Protein Producer Index
Coller FAIRR Climate Risk Tool
Analysis Overview
Cost Increase
Cost Increase
EBIT Margin
Cost Increase (%)
60%
40%
20%
0%
-20%
-40%
-60%
Net Zero Aligned
BAU
High Climate Impact
Cost Breakdown
2030 | Net zero aligned | BAU | High climate impacts |
---|---|---|---|
Total Costs | 4% | 11% | 15% |
Carbon Tax | 4% | 9% | 11% |
Feed | -1% | 1% | 2% |
Feed Additives | N/A | N/A | 2% |
Heat Stress | 0% | 1% | 1% |
2050 | Net zero aligned | BAU | High climate impacts |
---|---|---|---|
Total Costs | 11% | 22% | 28% |
Carbon Tax | 11% | 20% | 21% |
Feed | -1% | 1% | 3% |
Feed Additives | N/A | N/A | 2% |
Heat Stress | 1% | 2% | 2% |
Members-only Content
To register as a member of the FAIRR network, please fill out the sign up form or if you need additional information on the FAIRR network, please contact investoroutreach@fairr.org.
Workstream Information
Last Updated:
5 April 2023
2023/24 Resources
Climate Risk Tool Walkthrough 2023 Public Report 2023 (English) Public Report 2023 (Mandarin) Coller FAIRR Climate Risk Tool