Ceres' food emissions 50 company benchmark

The Food Emissions 50 Company Benchmark evaluates major North American food companies on greenhouse gas emissions disclosures, reduction targets, and climate transition plans. It highlights progress in reporting scope 3 emissions and setting science-based targets, while identifying areas needing improvement, such as aligning growth strategies with emissions goals.

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OVERVIEW

The Food Emissions 50 Company Benchmark is an initiative developed by Ceres, a sustainability-focused non-profit organisation. It evaluates 50 of the largest publicly traded food and agriculture companies in North America on their greenhouse gas (GHG) emissions disclosures, reduction targets, and climate transition plans.

The primary audience includes institutional investors, asset managers, and financial analysts concerned with climate-related financial risks and opportunities. The benchmark provides data on companies’ Scope 1, 2, and 3 emissions, with an emphasis on Scope 3 emissions, which often constitute over 80% of total emissions in the food sector.

As of the latest assessment, 37 out of 50 companies disclose their Scope 3 emissions, and 32 have set or committed to setting science-based reduction targets aligned with limiting global warming to 1.5°C. However, only a subset of these companies have developed comprehensive climate transition plans detailing how they intend to achieve these targets.

For finance professionals, this tool offers insights into companies’ climate risk management and readiness for a low-carbon economy. It aids in assessing potential investment risks and opportunities by highlighting companies’ progress and gaps in emissions reporting and reduction strategies. This information can inform investment decisions, engagement strategies, and risk assessments related to climate change.