Data: Meat and dairy industry fails to reduce emissions ahead of Cop28

The meat and dairy industry is failing to reduce emissions with an increase of over 3% ahead of Cop28, according to analysis by the FAIRR investor network.

Emissions from the meat and dairy industry have increased with a 3.2% raise announced by 20 of the largest listed meat and dairy firms disclosing Scope 3 emissions, including McDonald’s and Walmart.

Upon disclosure, 40% of the 20 companies now report their Scope 3 emissions from their supply chain and areas like animal feed production with US-operating Tyson Food and WH Group which owns Smithfield Foods.

The data stems from the FAIRR protein producer index which assesses a total of six publicly-listed animal protein producers, each worth a combined $364 billion against ten ESG factors.


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“The failure of leading meat and dairy companies to reduce emissions underlines the urgent need for more policy focus on the food and agriculture sector,” said FAIRR network chair and founder Jeremy Coller.

“Food emissions deserve a place at the top of the table alongside energy and transport, as they represent an estimated third of greenhouse gas emissions and 40% of methane.”

He continued: “Investors hope the first ever food and agriculture roadmap at Cop28 this month will catalyse the transition to 1.5 degrees and a more sustainable food system”.

“What you can measure, you can manage, so investors will welcome the increased disclosure of Scope 3 emissions by the meat and dairy sector.”

Coller added that the FAIRR Protein Producer Index highlights the ESG risks and opportunities in the global food system and enables investors to engage their portfolio companies in more meaningful conversations.

Fairr Initiative senior manager Thalia Vounaki said “it’s encouraging to see more firms disclosing carbon footprints that encompass their entire supply chain – as these critical ‘Scope 3 emissions account for the large majority of the sector’s emissions”.

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