Energy Efficiency, GHG Emissions, Sourcing Renewables - November 22, 2021
Bunge to Reduce Scope 1 and 2 GHG Emissions by 25%
Bunge announced science-based targets (SBTs), highlighting its commitment to reduce GHG 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.
Bunge’s targets are supported by the St.Louis-based agribusiness, food and ingredients company’s history of improvements to its operations, investments in renewable energy sources and its strong relationships with value chain partners. The new targets, which have include:
- A reduction of Scope 1 and 2 GHG emissions of 25% by 2030 from a 2020 baseline year and
- A reduction of Scope 3 GHG emissions of 12% by 2030, from a 2020 baseline year.
“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,” said Greg Heckman, Bunge’s CEO in a statement. “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,”
The company will make significant changes 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.
The company’s new science-based targets demonstrate the company’s goals of providing low-carbon and deforestation-free products to its customers and supporting the development of next-generation renewable fuels, said Rob Coviello, chief sustainability officer and government affairs.
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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