Ten leading agricultural commodity companies have come together to issue a joint statement recognising their mutual responsibility in addressing climate change and outlining their shared efforts to accelerate sector-wide action.

The statement was issued yesterday (Tuesday, November 2), as the world pays attention to the first week of the United Nations’ Climate Change Conference (COP26) in Glasgow.

“We, ten global companies with a combined annual revenue of almost 500 billion USD and a major global market share in key commodities such as soy, palm oil, cocoa and cattle, have a shared commitment to halting forest loss associated with agricultural commodity production and trade,” the statement said.

The ten companies that signed the statement comprise ADM; Amaggi; Bunge; Cargill; Widjaja, Golden Agri-Resources; JBS S.A; Louis Dreyfus Company B.V.; Olam International; Viterra; and Wilmar International.

“We recognize that significant progress has been made, but this progress must be accelerated and scaled-up to support global efforts in reaching net zero emissions globally by 2050, halting biodiversity loss, and providing sustainable livelihoods,” the statement continued.

So we intend to build on our shared efforts, working with governments, farmers, and other key stakeholders in our supply chains, to accelerate sector-wide action and to identify opportunities for public-private collaboration to catalyse further progress on eliminating commodity driven deforestation.

“By COP27 we will lay out a shared roadmap for enhanced supply chain action consistent with a 1.5° pathway, that supports achievement of our goals, and increases collaboration and implementation in areas including: enabling policy environments, transparency on scope 3 emissions and indirect supply chains, and improving livelihoods for farmers."

Following their joint proclamation the individual companies outlined their commitments and progress to date.