Food Sector Making “More Promises Than Progress” on Regenerative Agriculture
A ground-breaking study of 79 global agri-food firms has found that 50 (63%) publicly refer to the potential of regenerative agriculture as a solution to the climate and biodiversity crises. However, of these 50 companies, 64% (32/50) including Chipotle, Domino’s and Bunge have not put in place any formal quantitative company-wide targets to achieve those ambitions. The report will be discussed at a private investor-only event being held today at New York Climate Action Week.
Key findings include:
- 64% (32/50) of agri-food companies that publicly report on regenerative agriculture as an opportunity do not put in place any formal quantitative company-wide targets to achieve those ambitions
- Only 8% (4/50) of companies that publicly report on regenerative agriculture as an opportunity have financial commitments in place to support farmers in their supply chain to incentivise uptake of regenerative agriculture
- Regulatory risk: new laws in EU and UK, and new TNFD framework, put revenue, value and reputation at risk with EU-based firms facing fines of up to 4% of revenue if marketing is judged to be misleading