Agricultural firms sign up to halt deforestation
- Date: 02-Nov-2021
- Source: Argus Media
- Sector:Oil & Gas
- Country:Middle East
Agricultural firms sign up to halt deforestation
London, 2 November (Argus) — Some of the world's leading agricultural commodities businesses pledged today to accelerate their commitment to halting forest loss associated with the sector.
The 10 firms made the move as the UN Cop 26 climate summit's forest and land use event takes place, and it comes as EU legislators push back against use of commodities grown on cleared land.
ADM, Amaggi, Bunge, Cargill, Golden Agri-Resources, JBS, Louis Dreyfus, Olam International, Viterra and Wilmar International — which have a combined annual revenue of nearly $500bn and key market share of commodities such as soy, palm oil, cocoa and cattle — will by Cop 27 "lay out a shared roadmap" for their supply chains that is consistent with limiting a global temperature increase to 1.5°C as set out in the Paris agreement. Cop 27 is scheduled for 2022.
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