Bunge commits to climate action with science-based targets to reduce GHG emissions
Monday, November 22, 2021
Bunge announced its science-based targets (SBTs), highlighting its commitment to reduce greenhouse gas emissions within the company’s operations and throughout its supply chains. The announcement comes following a joint statement by Bunge and other agriculture leaders at the United Nations Climate Change Conference (COP26) to accelerate industry action towards fighting climate change.
“Today’s announcement underscores our continued leadership in providing low carbon and sustainable solutions for the production of food, feed and fuel to consumers around the globe. This not only reinforces our focus on making real progress toward climate action in our operations and across our value chains, but it also further enables growth opportunities into new markets for our company,” said Greg Heckman, Bunge’s CEO.
The company will make significant enhancements across its global operations, promote decarbonization through regenerative farming practices and enhance shipping and logistics to achieve these targets. A substantial portion of the emissions reduction within its supply chains is expected to be driven by Bunge’s commitment to achieving deforestation-free supply chains by 2025, the earliest deadline in the industry, according to the company.
Bunge’s ambitious targets are supported by the company’s decades-long history of enhancements to its operations, investments in renewable energy sources and its strong relationships with value chain partners. The new science-based carbon emissions targets include:
- An absolute reduction of Scope 1 and 2 greenhouse gas emissions of 25% by 2030, from a 2020 baseline year.
- An absolute reduction of Scope 3 greenhouse gas emissions of 12% by 2030, from a 2020 baseline year.
“We remain focused on creating clear and measurable paths to achieving our sustainability goals and supporting the decarbonization of the industry,” said Rob Coviello, chief sustainability officer and government affairs. “Our new science-based targets, which are supported by our board of directors, demonstrate our commitment to providing low-carbon and deforestation-free products to our customers, supporting the development of next-generation renewable fuels and deepening our approach to sustainability in our operations and across our value chains.”
The new climate targets have been validated by the Science Based Targets initiative, a global leader in helping companies transition to a lower-carbon economy through tangible commitments and ambitious emissions reduction targets.
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