Kasey Dresser| September 9, 2019
The Coller FAIRR Protein Producer Index, in its second active year, just released their report analyzing the environmental, social, and governance risks of meat, dairy, and farmed fish producers. One large take away from this year’s study was the lack of attention given to environmental and animal welfare by some of the world’s largest protein producers.
The FAIRR Index looked at 60 different companies and found evidence of lacking sustainability efforts for greenhouse gas emissions, water pollution, food waste, conditions for workers, antibiotic use, and animal welfare. Only 30% of the analyzed companies were able to give the researchers specific environmental strategy plans which focused only on reducing greenhouse gas emissions. One-quarter of the companies refused to even disclose their use of antibiotics on their animals.
As more research regarding climate change emerges, this isn’t just a problem for consumers. The conversation is shifting toward some of the financial consequences of severe weather for these large companies.
“What we’re seeing is that companies in the sector are contributing to many of the risks we discuss in the report, but they’re also deeply vulnerable…to the impacts of climate change,” says FAIRR’s Head of Research, Aarti Ramachandran. In an interview with Forbes, Ramachandran gave an example of an Australian Agricultural Company that lost over $100 million in damages due to extreme flooding.
Ramachandran does leave the report on a positive note acknowledging the increased investments in plant-based proteins by meat and dairy companies. He stated, “we think that, overall, there should be a rebalancing of protein so that animal protein consumption doesn’t continue to grow at the same trajectory, and so that there is a sustainable balance between plant-based and animal-based food.”