Bunge (NYSE:BG), a global leader in agribusiness, food and ingredients, today announced 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, it also further enables growth opportunities into new markets for our company,” said Greg Heckman, Bunge’s Chief Executive Officer.
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 achieve deforestation-free supply chains by 2025 – the earliest deadline in the industry.
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 chains 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; and,
- 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.
To read more about Bunge’s sustainability goals, visit bunge.com/sustainability.
At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have more than 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
Ruth Ann Wisener