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Dear John,

Animal agriculture is linked to nearly 15% of global greenhouse gas (GHG) emissions and is a significant driver of water scarcity, water pollution and land-use change. As one of the largest buyers and sellers of meat and dairy products, the $570 billion global fast-food sector is increasingly vulnerable to the impacts of a warming planet on these animal protein supply chains.

That’s why Ceres, along with investor network FAIRR, are proud to announce ‘breakthrough’ progress from a two-year global investor engagement with fast food giants , resulting in companies ramping up their climate commitments in the face of growing investor pressure to decarbonise their supply chains. The $11 trillion investor engagement has, over the last year, asked fast food companies including Domino’s Pizza, McDonald’s and the owners of Burger King to set tough targets to reduce greenhouse gas emissions and water use by their meat and dairy suppliers. There is mounting scientific research demonstrating the high environmental impact of meat and dairy products and the vulnerability of livestock production to climate and water risk.

The Global Investor Engagement on Meat Sourcing Progress Briefing by Ceres and FAIRR finds that five of those fast food chains (McDonald’s, Yum! Brands, Chipotle, Domino’s and Wendy’s ) have either set, or stated they will set, aggressive SBTs to reduce their emissions. That’s in contrast to last year when only one company (McDonald’s) had set a science-based target (SBT), and one (Yum! Brands) had announced its intention to set an SBT. This rapid uptake of ambitious pledges in just one year shows the fast food sector is being forced to take action on climate amidst rising pressure from investors.

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As the third phase of the investor engagement opens to additional investor participation, ongoing dialogues will focus on tackling water risks and improving climate scenario analysis as companies work to achieve their ambitious climate targets and build on their water stewardship strategies. We look forward to seeing additional progress on these goals.

Thank you,

Kirsten James
Director of Water,
Ceres
@kirstenjames_CA

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