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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Science Based Targets

In 2021 Bunge took a big leap forward by establishing science based targets for its operations and supply chain. The targets, validated by the Science Based Targets initiative, call for a 25% reduction in Scope 1 and Scope 2 emissions, and a 12% reduction in Scope 3 emissions, to be achieved by 2030 from a 2020 baseline.

To meet these targets, Bunge will make significant enhancements across our global operations, promote regenerative farming practices, and emphasize decarbonization in shipping and logistics. A substantial portion of the emissions reduction within our supply chains will be driven by our commitment to achieve deforestation-free supply chains by 2025 – the earliest deadline in the industry. These ambitious targets are supported by our decades-long history of enhancements to our operations, investments in renewable energy sources and our strong relationships with value chain partners.

Bunge remains focused on creating clear and measurable paths to achieving our sustainability goals and supporting the decarbonization of the industry. The new science based targets demonstrate our commitment to providing low-carbon and deforestation-free products to our customers, supporting the development of next-generation renewable fuels and deepening our approach to sustainability in our operations and across our value chain.

 

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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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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.