Our emissions reduction targets
Why climate targets are important for the food & agri sector
Climate change is already creating challenges for supply continuity in the agricultural commodities sector that in turn impact food security. A strong climate strategy based on science helps us to mitigate these impacts by supporting the transition to sustainable agriculture and a low carbon economy. Climate action sits at the core of our efforts to protect the cultivation of the crops we source, reducing risk and helping to ensure access to nourishing, affordable food, while strengthening the future success of our business.
Our emissions reduction targets were validated by the Science Based Targets initiative (SBTi) in June 2024. Our new near-term goals cover COFCO International’s entire greenhouse emissions (GHG) footprint, guiding our climate strategy and supporting the Paris Agreement goal to limit global warming to 1.5°C
Approval of our targets by SBTi ensures their robust nature and provides transparency and clarity to our stakeholders. The SBTi platform is comprised of partners including the United Nations Global Compact, the World Resources Institute (WRI), the World Wildlife Fund (WWF), CDP and We Mean Business coalition. SBTi have validated the climate targets of more than 5,000 companies representing 34% of the global economy.
COFCO International’s science based targets
Validated by the Science Based Targets initiative (SBTi) with reductions compared to a 2021 baseline
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- Scope 1 and 2 GHG emissions by 54.6% by 2033.
- Scope 3 GHG emissions from purchased goods and services, upstream transportation and downstream transportation by 32.5% by 2033.
The target boundary includes land-related emissions and removals from bioenergy feedstocks.
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- Scope 1 FLAG emissions by 39.4% by 2033.
- Scope 3 FLAG emissions by 46% per tonne of soybean by 2033.
- Scope 3 FLAG emissions by 45% per tonne of maize by 2033.
COFCO International commits to no deforestation across its primary deforestation-linked commodities, with a target date of 2025.
The target includes FLAG emissions and removals.
