Addressing the greatest threat to humanity? Look to supply chains.
In response to the recent World Economic Forum Global Risks Report 2022, we reflect on the urgent climate and environmental threats humanity faces. Companies have an enormous opportunity to address these threats and create widespread positive impacts. LandGriffon supports companies to do this, through creating sustainable agri-commodity supply chains.
The global threat of climate and environmental risks has long been recognised by scientists and experts. The irrefutable conclusions made in the IPCC report and at COP26, 2021 continued to sound the alarm on the urgency of addressing these risks and the decreasing window of time for action. The World Economic Forum opened 2022 with its annual Global Risks Report, where leading business experts further reinforced the statement: climate inaction is the most severe threat faced by humanity and to the world economy. This is closely followed by extreme weather and biodiversity loss.
Experts across the board, from scientists, the international community, and business leaders see climate action as the most critical issue facing modern society. What can be done to take action faster?
To address climate and environmental risks, most companies will need to decarbonize by a minimum of 90–95% across their operations and supply chains, according to SBTi (The Corporate Net-Zero Standard from Science Based Targets). This is the world’s first framework for corporate net-zero target setting that is in line with climate science. Yet companies vary greatly in how they recognise and are committed to addressing these risks.
On the one hand, there are examples of companies joining forces to commit to change. Such as the 10 global companies from the agri-commodity sector that made a combined statement of purpose at COP26, declaring they will halt “forest loss associated with agricultural commodity production and trade.” They recognised the need and their responsibility to accelerate and scale-up “global efforts in reaching net-zero emissions globally by 2050, halting biodiversity loss, and providing sustainable livelihoods” and are working on a roadmap for COP27.
On the other hand, despite the global recognition of how important and pressing climate and environmental action is, the recent Forest 500 report found that three out of four companies assessed do not have a deforestation commitment for all of the forest-risk commodities in their supply chains. While one-third of the most influential companies have no deforestation commitment at all.
“Halting agriculture-driven deforestation to halve emissions and reverse biodiversity loss by 2030 is not an option but a necessity for companies credibly committed to net zero in order to fulfil their science-based commitments. There is no pathway to keep 1.5C within reach without that.”
Nigel Topping, High-Level Champions for Climate Action at COP26
Public commitments are only one step towards climate and environmental action. According to experts at the World Resources Institute, the best way for corporate leaders to turn promises of halting deforestation into committed actions is to take the following steps:
“1. Develop clear implementation plans, specify measurable performance indicators, and set specific milestones of achievement on the path to 2030 goals.
2. Openly and regularly monitor, report and verify progress.
3. Act transparently — the boundaries and owners of land use permits or licenses should not be secret and companies should trace and disclose the origins of the commodities they purchase.”
LandGriffon supports companies in turning their environmental commitments into action. LandGriffon is an EU funded Horizon 2020 service, led by Vizzuality and Satelligence, and advised by Stockholm Environment Institute and their TRASE initiative. This bespoke service draws from the consortium’s scientific and development expertise, specifically designed for agri-commodity companies to measure, analyze and manage the environmental impacts of their supply chains. To have the greatest impact, we need to work together by sharing critical knowledge and insight. That is why we are keeping this software open-source. The base model has environmental indicators for Scope 3 water stress, deforestation, biodiversity loss, and carbon emissions. This service enables companies to meet the three priorities listed above.
- Calculate the environmental impact from your agri-commodity supply chain. Understand your data and create company-specific targets based on this data. Forecast impact reduction strategies and create implementation plans based on these insights.
- Analyze your supply chain data using a system backed by science, to systematically monitor, report and verify progress. More detailed data results in more in-depth analyses, but even if you’re only beginning to map your suppliers, our probabilistic modelling provides you with ample insights to get started today.
- Improve transparency around your mitigation and adaptation approaches, and of mapping commodity origins. This is essential for internal and external communication.
The facts are clear: climate inaction is the most severe threat faced by humanity. The technology and the knowledge to change this is there. What we need is corporate prioritization. There is no time to lose.
If your company could benefit from this service, open up the conversation by contacting us now. Get in contact with: Maria Ricart, Sustainable Business Development
Learn more at Landgriffon.com
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 101004174.
