Action on climate

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We implement innovative solutions to minimize our environmental footprint and support projects and activities that strengthen our approach to fighting climate change. 

 

Bunge is firmly committed to finding tangible solutions to the climate crisis, in both our operations and in our supply chains. We continue to advance our climate strategy with carbon-focused decision making across our organization. We are constantly striving to minimize our environmental footprint, taking action to reduce GHG emissions and addressing water scarcity. Learn more about our climate action progress by reading our 2021 Global Sustainability Report.

 

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Environmental Goals

Since 2008, Bunge has set targets to reduce the company’s greenhouse gas (GHG) emissions footprint. We have exceeded these targets and, in 2016, set a 10-year goal to further reduce emissions by 10% per metric ton of production, which we are on track to achieve. This is being done through the deployment our Bunge Production System (BPS) in all regions where we operate, the implementation of technology at our facilities, and continuous improvement processes. It is also the result of the creation of our energy working group, which is successfully finding ways to optimize energy consumption in our plants.

 

 

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             2020 Indirect (Scope 3) emissions (mt/CO2eq)

 

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Value Chain Emissions

Bunge’s current emissions goals target Scope 1 and Scope 2 emissions, which cover emissions from our own operations and emissions from our purchased electricity and steam. In 2020, these emissions were submitted to 3rd party partners in order to increase transparency and reliability of the data that we present.

We also believe it is important to understand our indirect value chain emissions, which are known as Scope 3. These emissions constitute the vast majority of our total emissions profile and are almost entirely out of Bunge’s direct control. Despite this, we’re working to influence our partners throughout the value chain through efforts like the Sea Cargo Charter, our non-deforestation commitment and continued farmer and grower engagement. In 2020, we sourced data from within the company, including some primary data from our suppliers, as well as secondary data based on extrapolations and benchmarks following the GHG Protocol Corporate Value Chain Accounting and Reporting Standard. We found that most of Bunge’s Scope 3 emissions are from upstream sources, and account for more than 60% of our Scope 3 emissions.

 

             2020 Indirect (Scope 3) emissions (mt/CO2eq)

 

Value Chain Emissions

Bunge’s current emissions goals target Scope 1 and Scope 2 emissions, which cover emissions from our own operations and emissions from our purchased electricity and steam. In 2020, these emissions were submitted to 3rd party partners in order to increase transparency and reliability of the data that we present.

We also believe it is important to understand our indirect value chain emissions, which are known as Scope 3. These emissions constitute the vast majority of our total emissions profile and are almost entirely out of Bunge’s direct control. Despite this, we’re working to influence our partners throughout the value chain through efforts like the Sea Cargo Charter, our non-deforestation commitment and continued farmer and grower engagement. In 2020, we sourced data from within the company, including some primary data from our suppliers, as well as secondary data based on extrapolations and benchmarks following the GHG Protocol Corporate Value Chain Accounting and Reporting Standard. We found that most of Bunge’s Scope 3 emissions are from upstream sources, and account for more than 60% of our Scope 3 emissions.

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Climate Risks and Opportunities

In 2020, Bunge began developing enhancements to its enterprise risk management process by incorporating more detailed sustainability risks and opportunities. These include risks emanating from changing climate and weather patterns, water scarcity, deforestation, human rights, farmer productivity and increasing taxation and regulation on GHG emissions. The enhanced process, set to be implemented in 2021, will provide Bunge with greater oversight and management of climate-related risks and the potential financial implications, and will help ensure continued short-, medium- and long-term resilience.

Climate risks are overseen at the Board of Directors level by the Enterprise Risk Management Committee which has responsibility for supervising the quality and integrity of our risk management practices. Enterprise risk management is overseen at the executive level by the Chief Risk Officer with input from relevant teams and functions, and reported regularly to Bunge’s leadership and the Board of Directors.