Signatories are invited to sign this investor letter of support for the CA…
FAIRR & Ceres are excited to announce the 2nd phase of the Global Investor Engagement on Meat Sourcing. Launched in January 2019, it encourages the 6 largest fast food companies to de-risk their meat and dairy supply chains against climate and water risks by adopting strategic policies and targets based on forward-looking analyses.
The fast food sector plays a dominant role in feeding our global population. On any given day around 84.8 million adults in the US, nearly one third of the population, consume fast food. This sector continues to expand rapidly across developed and emerging markets. A significant portion of this consumption is linked to food items that wholly or partially involve meat and/or dairy products.
Across three key areas – greenhouse gas emissions, water and land use – animal proteins have a significant environmental footprint. This increasingly creates material reputational, operational and market risks for the companies buying animal protein-based products. Agriculture and land use constitute 24% of global GHG emissions, and meat and dairy supply chains are major contributors and are also among the biggest drivers of tropical deforestation. Producing feed for livestock uses ⅓ of total water annual global water withdrawals. Their productivity will also be impacted by rising temperatures.