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: Supply chain and market research

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.

November 2019

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 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.


June 2019

June 11, 2019
Setting the bar for deforestation-free soy in Europe
This report presents a benchmark for Voluntary Standard Systems (VSS) which comply with the FEFAC Soy Sourcing Guidelines. These are guidelines drafted by the European Feed Manufacturers’ Federation as minimum criteria for the sourcing of soy, to avoid illegal deforestation and other sustainability risks.

April 2019

April 1, 2019
Belgian Arms bootcamp
Profundo researchers participated in the Belgian #EUarms bootcamp, organised by Lighthouse Reports and Bellingcat. In cooperation with Belgian journalists from Knack, Le Soir and VRT, the bootcamp investigated the sales of Belgian arms across the world, including to Saudi Arabia. The team used open-source intelligence to trace the arms in the conflict in Yemen.


April 25, 2019
Complicity in Destruction II: How Northern Consumers And Financiers Enable Bolsonaro’s Assault On The Brazilian Amazon
This report exposes the risks behind doing business with companies directly tied to illegal deforestation in Bolsonaro’s Brazil. Europe and United States-based companies and financiers were identified here have now been made aware of their roles within their supply chains and portfolios. They should swiftly act upon this information to minimize exposure to the risks they run.

March 2019

March 25, 2019
Market Research: European Market Demand for Cocoa and Cocoa Products from Sierra Leone, Liberia & Guinea
This study presents findings on European market demand for cocoa from Guinea, Liberia and Sierra Leone. It provided input for a broader CBI value chain analysis of cocoa from these countries to Europe.

October 2018

October 22, 2018
Cencosud: 35 Beef Products Link Retailer to High-Risk Amazon Slaughterhouses
Cencosud is a multi-brand retailer in South America, headquartered in Chile. The company is the fourth largest supermarket chain in Brazil, after Carrefour, GPA (Pão de Açúcar) and Walmart. Cencosud’s position in the beef supply chain may expose it to deforestation risks through the beef it sources from slaughterhouses, as cattle is a major driver of deforestation in the Brazilian Amazon.

September 2018

September 7, 2018
Cattle-driven Deforestation: A Major Risk to Brazilian Retailers
Cattle ranching in Brazil, home to the world’s second largest herd, remains a major cause of deforestation. This trend continues despite meatpackers and retailers having made commitments to deforestation-free supply chains in the last ten years. This report describes the economic role of the cattle sector in Brazil, key supply chain actors, their role in deforestation, and potential solutions to improve sustainability performance. The supply chain relationships of the top five retailers and meatpackers with Amazon plants expose the Brazilian retail sector to material risk from sourcing unsustainable beef.

June 2018

June 28, 2018
Palm oil Bulungan
This reports investigates the financial and supply chain links with Europe of palm oil companies operating in Bulungan (North Kalimantan, Indonesia).
June 21, 2018
Indonesian seafood supply chain links with the Netherlands
This study analyzes the supply chain links of Indonesian seafood suppliers with retailers in the Netherlands.

Oxfam Novib

June 21, 2018
Power and Influence in the Value Chains of Dutch Retailers
The research analysed the top 5 Dutch retailers (Albert Heijn, Jumbo, Lidl, Aldi, Plus) based on a set of hypotheses regarding their power, policies, trading practices and the environment they operate in. In addition, supply chain links between Southeast Asian seafood producers and Dutch, German and UK retailers have been researched.
June 21, 2018
Indonesian seafood supply chain links with Germany
This study analyzes the supply chain links of Indonesian seafood suppliers with retailers in Germany

Oxfam Germany

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