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Food Emissions 50 Benchmark TEST

Measuring climate risk in the food sector and accelerating the transition to a lower-emissions economy

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About the benchmark

The Food Emissions 50 Company Benchmark measures corporate progress toward addressing climate risk in the food sector and accelerating the transition to a lower-emissions economy. Companies are assessed based on the quality of their emissions disclosures, reduction goals, and climate transition action plans.

Ceres’ latest analysis found Food Emissions 50 companies are making progress in disclosure and taking actions that both reduce emissions and prepare the companies to better assess climate risk and seize opportunities in a more resilient food system.

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Key Benchmark Takeaways

Stronger supply chain disclosure

More companies are outlining the agricultural products and land use change activities that contribute most to supply chain emissions, which account for 95% of a food company’s overall emissions. 18 companies quantify and disclose emissions from purchased goods, while another 6 disclose sources without quantifying emissions.

More sophisticated climate scenario analysis

16 companies have conducted scenario analyses, helping them identify operational, supply chain, and market transition risks, as well as business opportunities to build a more resilient food system.

Opportunity in reducing potent agriculture emissions

Methane and nitrous oxide are greenhouse gases produced from agriculture and have a potent warming effect. Leading companies are starting to set reduction goals for these gases.

Major companies quantifying reduction strategies

5 companies have detailed, quantified emissions reduction strategies that outline systematic approaches to meeting their goals, managing risk, and leading in value creation.

Company Examples

Stronger supply chain disclosure

Maple Leaf Foods lists hogs and poultry from contracted growers as the largest contributor to scope 3 purchased goods and services emissions, totaling 35.4% of these emissions.

More sophisticated climate scenario analysis

Compass Group, the multinational food service provider, are quantifying the financial impacts of these risks, such as increased costs due to water stress affecting beef and dairy production.

Opportunity in reducing potent agriculture emissions

Campbell’s has a target for nitrous oxide, while Nestlé and Danone have methane reduction goals, highlighting an opportunity for others in the sector.

Major companies quantifying reduction strategies

General Mills stands out with its Climate Action Transition Plan that discloses reduction amounts by category and provides implementation timelines. There is an opportunity for more companies to quantify strategies to build resilience, innovation, and long-term value creation.

Explore the Food Emissions 50

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See all company scorecards

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Emissions disclosures, targets, and climate transition action plans set food companies up to maintain resilient supply chains and shore up their vulnerabilities through adaptation and even cutting costs of production. Addressing risk with actions will ensure production and profitability into the future.

To learn more, please visit the individual company scorecards below, and our assessment methodology for the Food Emissions 50 benchmark indicators.

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