Ceres: Climate Ambitions and Food Companies

ceres: In a letter jointly organised by the Farm Animal Investment Risk & Return Fairr Initiative and sustainability organisation Ceres, the fast food companies which account for more than 120,000 restaurants worldwide were censured for expanding without sufficiently mitigating their environmental impacts, according to The Guardian. If we are to meet the global climate ambitions set by the Parisagreement, and ensure the availability and sustainable management of global water resources, then global fast good brands need to take concrete action to manage supply-chain emissions and water impacts, said Heike Cosse, from Aegon Asset Management. Increasing concern that the industry is neglecting climate change and has failed to set emissions targets unlike other sectors prompted more than 80 investors representing 6.5tn 4.94tn to challenge fast food chain owners to put robust targets in place for their meat and dairy suppliers, in what could prove a landmark demand. The takeaway from investors is that those firms that fail to meet this challenge face regulatory and reputational risks that put their long-term financial sustainability under threat. In the letter, the investor coalition which also included Aviva UK advised the chains to reduce their impact on freshwater, publish time-sensitive targets and publicly announce their progress each year. BMO Global Asset Management added that the long-term value of fast food multinationals was under rising threat, citing the growing demand for plant-based food, increased environmental regulation and fears over water pollution from intensive farms. (news.financializer.com). As reported in the news.