Energy Efficiency, GHG Emissions, Regulation - October 7, 2024
Taking Stock: The State of Climate Action and Disclosure in the Food Sector
The past year has been monumental for climate action in the food sector and beyond. Landmark regulations in the U.S., including new reporting rules from the SEC, are paving the way for more standardized and robust emissions reporting while leading companies are quantifying their climate strategies through published Climate Transaction Action Plans. However, more progress is still needed to curb the worst impacts of climate change and meet the 2030 goals of the Paris Agreement.
A new report from Ceres, Taking Stock: The State of Climate Action and Disclosure in the Food Sector provides a first-of-its-kind analysis that shows that the food sector is making progress on reducing direct emissions but is slow to address supply chain emissions.
Among highlights of the report, Ceres found:
60% of companies are making progress on Scope 1 and Scope 2 emissions from their direct operations.
Slower progress on addressing Scope 3 emissions from their supply chains is holding companies back from reducing total emissions.
Companies with full-scope emissions reduction targets are more likely to be reducing emissions.
Companies are beginning to clarify their emissions disclosures, but there is room for improvement to enhance comparability and the ability to assess progress over time.
Download this report to discover if food companies are genuinely reducing their emissions and how disclosures can be improved to not only increase transparency but also spur meaningful action:
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