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(Bloomberg) — 4 out of 5 of Asia’s listed meals corporations aren’t reporting on a core ESG threat — the place and the way they’re sourcing their animal protein.
Whereas 72% difficulty sustainability experiences, they largely deal with dangers “peripheral to their core enterprise” resembling packaging, vitality use and carbon emissions, in accordance with a report from Singapore-based consulting agency Asia Analysis and Engagement. Solely 16% of the 158 meals and beverage, retail, hospitality and catering companies listed on Asian inventory exchanges assessed by the group have accountable protein sourcing insurance policies.
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As regulators and companies clamor to answer the local weather disaster, there’s a rising consciousness that the deterioration of the pure world is an interconnected menace and poses nice dangers to monetary markets and the worldwide economic system. The meals trade’s sprawling provide chains rely closely on industrial animal farming, the main explanation for deforestation and biodiversity loss, and the second-largest greenhouse gasoline emitter.
But Asian meals corporations neglect particular trade dangers like deforestation for livestock feed, animal welfare, and overuse of antibiotics whereas emphasizing emissions and vitality targets as a result of they’ve been extra “sensitized” to local weather points, Kate Blaszak, director of sustainable proteins at ARE, stated in an interview.
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“It’s a bit like an arms firm saying it’s doing properly on local weather, decreasing water utilization and vitality, however not eager about the moral difficulty of what it’s really promoting,” she stated.
The analysis group collaborates with fund corporations that handle nearly $4 trillion in belongings, together with Constancy Worldwide and Aviva Plc.
Extra from the report:
13% of companies acknowledged antimicrobial use or resistance dangers on their web sites, insurance policies, and sustainability reports11% acknowledged animal welfare practicesNone acknowledged deforestation in animal protein sourcing linked to animal feed and farming18% acknowledged sustainable sourcing of seafood, wild caught or farmed
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