COFCO International sells more deforestation- and conversion-free soybeans from Brazil to China
COFCO International has sold a second shipment of deforestation and conversion free soybeans to COFCO Oils & Oilseeds in China.
This trade builds on the first-ever agreement of this kind, shipped by COFCO International earlier this year as part of the Green Value Chain Taskforce, initiated by the World Economic Forum’s Tropical Forest Alliance, and incorporates expanded sustainability metrics to meet evolving environmental and social best practice.
The soybeans were produced as a rotational crop at COFCO International’s sugar plantations in São Paulo state, Brazil. Crop rotation is a regenerative agriculture practice which improves soil health, boosts yields, and reduces emissions by minimising use of synthetic fertilizers.
In addition to being deforestation- and conversion-free with a 31 December 2020 cut-off date, the soybeans passed third-party audits certifying they were produced in compliance with the COFCO International Responsible Agriculture Standard, which requires use of sustainable farming practices including water management, biodiversity conservation, and ethical labour standards.
The transaction follows a mass balance trade system. COFCO International has also completed pilot shipments of soy products from Brazil and Argentina in preparation for compliance with the European Union Deforestation Regulation (EUDR), which requires a segregated trade system.
COFCO International is dedicated to eliminating deforestation from its global soy, corn and palm supply chains by 2025. This commitment, combined with increased uptake of regenerative agriculture practices and operational efficiency improvements in its maritime fleet, forms the foundation of its SBTi 1.5°C-aligned emissions reduction strategy.
