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Projects

To illustrate our broad expertise, covering many different economic sectors, commodities, sustainability themes and countries, this page gives an overview of the different projects executed by Profundo over the years. In the menu, you can filter the projects by thematic area. Each project is described briefly and where available the project portfolio - such as reports, brochures or presentations - is provided. Attention is also given to the exposure generated by the project in the media, in politics and elsewhere.

When you are looking for a specific report, we recommend to go to our Portfolio page.

We analyse the financial parameters of companies and assess how companies and their financiers could be affected in different scenarios by Environmental, Social and Governance (ESG) risks related to deforestation, climate change emissions, human rights abuses, resource depletion, health impacts and other sustainability issues.
We analyse the various human rights and other sustainability risks in international commodity supply chains and identify what different stakeholders can do to foster sustainable development of value chains in agriculture, forestry, livestock, energy, fisheries and mineral sectors.
We analyse how companies are financed by banks, shareholders and others financiers, to assess what financiers could do to foster sustainable corporate practices. Also, we dig into ownership structures and the schemes companies have set up to minimise tax payments.
We assess and benchmark responsible investment and credit policies of banks and investors and we advise on how policies can be improved and implemented through screening, voting, engagement and exclusion strategies.

December 2019

December 2, 2019
Insuring Coal No More, The 2019 Scorecard on Insurance, Coal and Climate Change
Insuring Coal No More analyzes the evolving role of the global insurance industry in the transition to a low-carbon economy. It focuses on 30 leading insurers, assessing and scoring their policies on coal and tar sands insurance, divestment and other aspects of climate leadership on the basis of a survey with more than 80 questions. Of the 30 companies, 24 responded to the survey or provided other information. Those that did not respond were scored on the basis of publicly available information.

November 2019

November 28, 2019
Controversial Arms Trade and investments of Dutch Pension Funds
This study shows that of the ten largest pension funds in the Netherlands, nine have investments in arms producers which supply weapon systems to states were human rights are violated
November 22, 2019
Palm Oil Biofuels Market May See Shake-Up in 2020, Heightening Leakage Risks
The expansion of the palm oil industry in the last ten years was partially in response to the anticipated demand for biofuels worldwide. The expected EU biodiesel boom did not materialize, resulting in a systemic oversupply of palm oil in Southeast Asia. A number of recent policy initiatives may bring about significant shifts in the enduser markets of palm oil-based biodiesel starting January 1, 2020. The geographical markets and the sectors with growing biodiesel demand are not traditionally known for their strict sustainability demands, and therefore may pose new leakage market risks.
November 15, 2019
Procter & Gamble’s Deforestation Exposure May Affect Reputation
Procter & Gamble has a No Deforestation, No Peat, No Exploitation (NDPE) policy that covers all third-party suppliers, and it has committed to developing a traceable supply chain. P&G applies its responsible sourcing policy at the supplier group level but relies on intermediary traders to engage with non-compliant growers and ensure a clean supply chain. In July 2019, P&G changed its organization design to six Sector Business Units (SBUs). It has decentralized responsibility for supply chains across its new business units.
November 15, 2019
Research for PECH Committee - Seafood Industry Integration in the EU: all 22 Member States with a coastline
The aim of this study is to provide a clear description of the corporate structure of the EU seafood industry. It further provides a description of the drivers and mechanisms of integration in the industry.
November 4, 2019
JJF Holding Land-Grabbing Case Intensifies Soy Traders’ Exposure to Cerrado Deforestation
This report analyses deforestation risks linked to the “JJF Holding de Investimentos e Participações" land-grabbing case in Formosa do Rio Preto in the Matopiba region of the Cerrado biome (Brazil). The JJF Holding case, one of the largest land grabbing incidents in Brazil, is linked to land tenure insecurities that cover 366,000 hectares in one of the key Cerrado soyproducing areas. The land tenure insecurities expose soft-commodity traders like Bunge, ALZ and Cargill, to deforestation and financial risks

October 2019

October 29, 2019
Future Smallholder Deforestation: Possible Palm Oil Risk
Independent palm oil smallholders in Indonesia are facing declining yields per hectare as their trees are aging. Financial and land tenure hurdles prevent effective financing of replanting, raising the risk of increasing deforestation in Southeast Asia after a period of declining forest loss. This report evaluates the financial and other hurdlesin Indonesia and investigates plans by governments and companies to offer solutions.
October 15, 2019
Demand for natural resources for the Belgian energy transition
Belgium is facing an urgent energy transition to meet the goals of the Paris Climate Agreement. This energy transition requires an increasing level of exploitation of natural resources for the construction of wind turbines, solar panels and batteries for electric cars. This study of VITO and Profundo looks into the scarcity and production level of lithium, cobalt, boron, cadmium, indium, gallium, selenium, tellurium and silver. The study also analyses the social and environmental impact of the mining of these minerals.

11.11.11

October 1, 2019
Fair Finance Guide India
Using the methodology developed by Profundo together with the civil society organisations collaborating in the Fair Finance Guide International network, the Indian Fair Finance Guide coalition assessed and ranked the responsible credit and investment policies of the main Indian banks for the first time. Profundo provided training and advice to support their assessment. Fair Finance Guide India is part of Fair Finance Asia, a regional network of Asian civil society organizations that is committed to ensuring that the business decisions and funding strategies of financial institutions in the region respect the social and environmental well-being of the communities in which they operate. Seven countries within the region are a part of the FFA: Cambodia, Japan, India, Indonesia, The Philippines, Thailand and Vietnam. Want to learn about Fair Finance Guide? Watch this video: https://youtu.be/zdks3jqmvuw

September 2019

September 23, 2019
ABP’s carbon footprint: Trend analysis per asset class and sector
ABP discloses the carbon footprint of its equity portfolio, and reports the trends between 2015 and 2018. This research – commissioned by Greenpeace, Both Ends, urgwewald and Fossiel Vrij NL – provides a more detailed analysis at the sector level of trends in investments and attributable emissions. Moreover, the research also shows that it is possible to estimate ABP’s carbon footprint for other asset classes using the PCAF methodology.
September 23, 2019
Advice on exploring the green financing market
On 29 August 2019, the Dutch Minister of Finance, Wopke Hoekstra, sent a letter to the Parliament about "Exploring the market for green financing". This note has some reservations about the content of that letter.

August 2019

August 29, 2019
Fair Pension Label: Mapping farm animal welfare risks
Case study on investments by Dutch pension funds in high risk companies in the chicken and pig meat value chain. The largest Dutch pension funds have investments in the chicken and pig meat producing companies. These companies by large fail to follow minimum animal welfare standards and exposes pension fund investments to many ESG risks including animal welfare. Profundo's new report for the Fair Pension Label, Netherlands, makes recommendation to the pension funds on how to invest responsibly in the sector.
August 30, 2019
Palm Oil Growers Suspended Over Deforestation Lose USD 1.1B in Equity Value
A large majority of global palm oil traders and refiners have implemented No Deforestation, No Peat, No Exploitation (NDPE) sourcing policies in recent years. Violations of such policies have repeatedly led to suspensions of oil palm growers from supply chains. This report investigates how 15 suspensions as a result of NDPE non-compliance impacted the financial performance of four oil palm growers: Sawit Sumbermas Sarana (SSMS), Austindo Nusantara Jaya (ANJ), Tunas Baru Lampung (TBLA), and Indofood Agri Resources.
August 1, 2019
Glencore Agriculture Exposes Canadian Pension Funds to Deforestation Risks
Glencore Agriculture is an agricultural commodity trading company that operates in corn, cotton, soy, and grains markets. This report assesses Glencore Agriculture’s exposure to deforestation risks in Brazil’s soy supply chain.
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