JBS targets net-zero greenhouse gas emissions by 2040
Brazilian food company JBS, the world’s biggest meat processor, has announced its commitment to achieve net-zero greenhouse gas emissions across its global operations by 2040.
JBS is the first major company in the global meat and poultry sector to set a net-zero target.
“Climate change is the great challenge of our time and we must act urgently to combat the negative effects of global warming,” said Gilberto Tomazoni, CEO, JBS.
Tomazoni continued that as one of the most diversified global food companies, JBS has an opportunity to leverage its scale and influence to help lead a sustainable transformation of agricultural markets that empowers producers, suppliers, customers and consumers.
“Agriculture can and must be part of the global climate solution,” he emphasized.
“We believe through innovation, investment and collaboration, net zero is within our collective grasp.”
As part of its commitment, the company has signed on to the United Nations Global Compact’s Business Ambition for 1.5°C initiative, which aligns with the aim of the Paris Agreement to limit global warming.
The commitment will be implemented across the company’s global operations and value chains in South America, North America, Europe, the U.K., Australia and New Zealand.
To achieve its net-zero goal, JBS will adopt several strategies including reducing its global scope 1 and 2 emission intensity by at least 30% by 2030 and investing more than $1 billion in incremental capital expenditures over the next decade in emission reduction projects.
The company also plans to engage its team members and award funding for projects to its facilities using a panel consisting of company executives, specialists and academics.
Another major strategy in JBS’ commitment is eliminating illegal Amazon deforestation from its supply chain – including the suppliers of it suppliers – by 2025, and in other Brazilian biomes by 2030. By 2035, the company said it will achieve zero deforestation across its global supply chain.
Additionally, the company said it will have converted to using 100% renewable electricity across its global facilities.
Innovation is also a key point in the company’s mission to achieve its net-zero goal. JBS said it will invest $100 million by 2030 in research and development projects to assist producer efforts to strengthen and scale regenerative farming practices, including carbon sequestration and on-farm emission mitigation technologies.
Across the company, performance against environmental goals, including GHG emission reduction targets, will be part of senior executive compensation consideration to ensure accountability.
The company’s announcement is a continuation of its longstanding commitment to sustainability and ongoing efforts to reduce emissions.