BRAZIL— Bunge, an American agribusiness and food company, announced it has exceeded its non-deforestation and sustainability targets for monitoring and traceability of soybean crops from its indirect supply chain in the Brazilian Cerrado.
According to the company’s Global Sustainability Report, through its Sustainable Partnership program it is now is able to monitor at least 64% of indirect volumes in its priority regions, well ahead of the 50% target established for 2022.
Launched in 2021, the Bunge Sustainable Partnership program was designed to help grain resellers assess suppliers’ social-environmental performance, including the use of farm-scale satellite monitoring.
Through it, the company has realized over 95% deforestation-free soybean supply chain in the priority regions of Brazil. This makes it the first company to foster a large-scale effort in the Cerrado to track indirect purchases by sharing knowledge, methodologies and tools with resellers, according to Bunge.
The program also implements a financial incentive mechanism that provides commercial benefits for resellers as they make progress toward their suppliers’ traceability. This is raising the standards for transparency and traceability for the indirect soy supply chain.
“Our commitment to integrate sustainability into daily decisions we make as a company requires deep engagement with all our partners,” said Gregory A. Heckman, chief executive officer of Bunge.
“The progress we have made in the past year is a testament to our collaborative efforts with farmers and customers and is evidence of the sustained impact we can provide.”
Bunge’s commitment to be free of deforestation and native vegetation conversion in its value chains in 2025 is a central part of the company’s business strategy and planning – and is a crucial element to its climate and emissions reduction goals.
“Our business strategy is built around the growing need from our customers and partners to provide low-carbon solutions for the world,” said Rob Coviello, chief sustainability officer and government affairs at Bunge.
Other highlights noted in the 2022 GSR report included Bunge’s commitment to climate action through the implementation of science-based targets (SBTs) to reduce greenhouse gas emissions within the company’s operations and throughout its supply chains.
Bunge is continuing to share key milestones, recognitions and programs with stakeholders regarding the most relevant commitments and time-bound targets.
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