Minerva SA

BEEF3:BZ BRBEEFACNOR6
Key Information
HQ:
Brazil
Market Cap:
$1.33bn
Primary Markets:
Asia, North America, LATAM, Europe & Russia



Company Information

Company Summary

Minerva Foods is one of the South American leaders in the production and sale of fresh beef and its by-products, as well as live cattle exports, and it also maintains operations in the meat processing segment. The Company operates slaughterhouses in Brazil, Paraguay, Uruguay, Colombia and Argentina, a meat processing plant in Brazil and two protein processing plants in Argentina.
Minerva

Revenue

Total revenue:

$5.1bn

Revenue by Geography

Revenue by Protein

Revenue by Product Type

Note: This financial breakdown is based on Annual reports released in 2022, containing, in most cases, FY2021.


Disclosures

CDP ScoresLast Reviewed: 11/10/2023

CDP ClimateCDP ForestsCDP Water
YesNoYes

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
Has not set SBT--

Coller FAIRR Protein Producer Index

Analysis Overview

Index-Radar-2023
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

46/100
Medium Risk



Greenhouse Gas Emissions

43/100

Scope 1, 2 & 3 Target
40/100
Type of Target
0/3
Strength of Target - Non-SBT
2/2
Source(s): CDP Climate 2022, page 17, 18, 20; Commitment to Sustainability Webpage; Sustainability Report 2022, page 28, 29, 30

Innovation on GHG Emission Reduction
36/100
Innovation to Reduce Agriculture Emissions
0.8/1
Feed Farming Innovation
0/2
Animal Farming Innovation
1/2
Source(s): CDP Climate 2022, page 20; Sustainability Report 2022, page 41, 43

Quality of GHG Inventory
80/100
Quality and scope of GHG inventory Completeness
1.5/1.5
Feed & Animal Farming Emissions
1/2
Transparency of GHG Inventory
1.5/1.5
Source(s): CDP Climate 2022; Sustainability Report 2022, page 28, 29, 111

Emissions Performance
5/100
Overall Emission Performance
0.25/5
Source(s): CDP Climate 2022, page 28; Sustainability Report 2022, page 29, 30

Climate-related Scenario Analysis
55/100
Climate-related Scenarios Analysis Conducted
0.5/1
Disclosure of Analysis Results on Material Risks
1.25/3
Disclosure of Financial Material Events & Alignment of CAPEX
1/1
Source(s): CDP Climate 2022, page 8, 11, 16, 46; CDP Climate Change 2022 Minerva SA.pdf, page 20; Frequently Asked Questions; Sustainability Report 2022, page 84



Deforestation & Biodiversity

12/100

Deforestation/Conversion-free Target - Soy for Animal Feed
0/100
Risk Assessment to Identify High-risk Locations
0/0.5
Strength of Deforestation Commitment
0/3.25
Transparency - Progress Against Commitment
0/1.25
Source(s): CDP Forest 2022, page 1; Sustainability Report 2020, page 58; Sustainability Report 2022, page 73

Deforestation/Conversion-free Target - Cattle
20/100
Risk Assessment to Identify High-risk Locations
0.5/0.5
Strength of Deforestation Commitment
0.25/3.25
Transparency - Progress Against Commitment
0.25/1.25
Source(s): CDP Forest 2022, page 2, 11; Sustainability Report 2022, page 37, 39

Engagement, Monitoring & Traceability - Soy for Animal Feed
2/100
Supplier Engagement
0.1/1.25
Compliance monitoring & Traceability
0/3.25
Feed Innovation
0/0.5
Source(s): Business Partner Code of Conduct; Sustainability Report 2022, page 73

Engagement, Monitoring & Traceability - Cattle
25/100
Supplier Engagement
1.25/1.25
Compliance monitoring & Traceability
-0.25/3.5
Feed Innovation
0.25/0.25
Source(s): CASH, CATTLE AND THE GRAN CHACO 2023; CDP Forest 2022, page 2, 15, 23, 37; Illegal Cattle ranching, Amazon Deforestation and Automative Lather Industry 2023, page 11; News Webpage; Santander and BlackRock continue to turn a blind eye to deforestation of Paraguay's Gran Chaco; Sustainability Report 2022, page 37, 39, 43



Water Use & Scarcity

27/100

Water Use & Scarcity in Facilities
72/100
Monitoring Water Consumption & Withdrawals
0.75/0.75
Target to Reduce Water Consumption & Withdrawals
0.4/1
Disclosure & Performance of Water Risks in Facilities
2.45/3.25
Source(s): CDP Water 2022, page 10, 18, 20, 21; Sustainability Report 2022, page 31, 32, 33, 113

Water Use & Scarcity in Feed Farming
0/100
Supplier Engagement in Water Use in Feed Farming
0/2.5
Disclosure of Water Risks in Feed Farming
0/2.5
Source(s): CDP Water 2022, page 4; Sustainability Report 2022, page 41, 73

Water Use & Scarcity in Animal Farming
10/100
Supplier Engagement in Water Use in Animal Farming
0.5/3
Disclosure of Water Risks in Animal Farming
0/2
Source(s): CDP Water 2022, page 5, 7



Waste & Pollution

30/100

Wastewater at Facilities
70/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
1.25/1.5
Transparency on Water Pollution Risks
1.75/2
Performance on Wastewater Quality & Volume Discharged
0.5/1.5
Source(s): CDP Water 2022, page 3, 7, 9, 10; Eco Efficiency Webpage; Sustainability Report 2022, page 31, 32, 36, 113; Waste Webpage

Nutrient Management in Feed Farming
15/100
Supplier Engagement in Nutrient Pollution Risks
0.76/4
Innovation to Improve Nutrient Management in Feed Farming
0/1
Source(s): Sustainability Report 2022, page 44; Water and Effluents

Manure Management in Animal Farming
6/100
Disclosure of Pollution Risks from Manure
0.28/1.25
Supplier Engagement in Manure Management
0/1.5
Innovation to Improve Nutrient Management in Animal Farming
0/2.25
Source(s): Sustainability Report 2022, page 43



Antibiotics

36/100

Policy on Antibiotics Use
60/100
Policy on Antibiotics Use
3/5
Source(s): Animal Welfare 2022, page 1; Animal Welfare Report 2022, page 10, 13; Animal Welfare Report 2023, page 17; Animal Welfare Webpage; FAQ - Animal Welfare, page 17; Sustainability Report 2022, page 67

Disclosure of Quantity of Antibiotics Used
11/100
Disclosure of Quantity of Antibiotics Used
0.56/5
Source(s): Sustainability Report 2022, page 67



Animal Welfare

78/100

Animal Welfare Policy
92/100
Welfare Policy
2/2
Key Welfare Issues
2.6/3
Source(s): Animal Welfare 2022, page 1; Animal Welfare Program 2020, page 3; Animal Welfare Report 2023, page 10, 13, 26; FAQ, page 10; Sustainability Report 2022, page 68, 70, 73

Assurance & Certification
70/100
Auditing & Assurance by an Animal Welfare Organisation
3/4
Public Reporting on Welfare
0.5/1
Source(s): Animal Welfare Program 2020, page 11; Animal Welfare Report 2023, page 13; Sustainability Report 2021, page 76, 78; Sustainability Report 2022, page 69, 71

Performance on Key Material Risks
71/100
Performance on Key Material Welfare Risks by Protein
3.56/5
Source(s): Animal Welfare Report 2023, page 13, 26; Sustainability Report 2022, page 39, 68



Working Conditions

54/100

Human Rights
60/100
Strength of Policy
1/1
Due Diligence Process
1.5/3
Evidence of Remediation
0.5/1
Source(s): Code of Ethics Guide of Conduct 2023, page 12, 15, 44; Prosperity of Our People - Minerva Foods - Google Chrome.jpg; Social Responsibility Webpage; Sustainability Report 2022, page 48, 81

Fair Working Conditions
71/100
Policy for Direct Operations
2.08/3
Monitoring & Discosure
1.45/2
Source(s): Business Partner Code of Conduct, page 22; Code of Ethics Guide of Conduct 2023, page 7, 15, 18, 22, 35, 36; Supply Chain Management Webpage; Sustainability Report 2022, page 48, 51, 79; Where we are

Safety & Turnover Data
43/100
Committee representation of workers
0.65/2
Disclosure of safety and turnover data
1.5/3
Source(s): Occupational Health and Safety Webpage; Sustainability Report 2021, page 65; Sustainability Report 2022, page 48, 49, 56, 57, 58

Freedom of Association
44/100
Strength of Policies
1/3
Disclosure of Collective Bargaining Metrics
1.2/2
Source(s): Code of Ethics Guide of Conduct 2023, page 7, 33; Sustainability Report 2022, page 50, 52



Food Safety

93/100

Food Safety System
95/100
Certifications
3.25/3.5
Performance
1.5/1.5
Source(s): Food Safety Webpage; Sustainability Report 2022, page 64, 66, 102

Product Recalls & Market Bans
90/100
Product Recall Systems
2.5/3
Performance
2/2
Source(s): Food Safety Webpage; Sustainability Report 2022, page 64



Sustainability Governance

45/100

Assessment of a Company's Sustainability Governance
45/100
Board Sustainability
1.13/2
Incentives & Policy Engagement
0.63/2.5
Innovation & Benchmarking
0.5/0.5
Source(s): ABEIC Webpage; Brazilian Roundtable on Sustainable Livestock; CDP Climate 2022, page 48; Executive remuneration policy; Management Webpage; Our Strategy Webpage; Sustainability Report 2022, page 3, 4, 5, 6, 15, 17, 18, 20, 21, 83



Alternative Proteins

30/100

Diversification of Products to Alternative Protein Sources
30/100
Existing product portfolio
0.5/2.5
Investing for future growth
1/2.5
Source(s): FAQ Webpage; Sustainability Report 2022, page 18; Swift AR webpage

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