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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.

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 30, 2019
European Soy Monitor
This report provides insights on the use of certified and deforestation-free soy in the EU-28 member states, Norway and Switzerland (EU+). As the second largest importer of soy, Europe has a responsibility to solve the sustainability issues connected to its soy consumption.
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.


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 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.

December 2014

December 15, 2014
Customers of the Albacora Group
The objective of this research project is to identify the markets and customers of the Spanish tuna fishing company Albacora Group and its subsidiaries. This research is conducted by analyzing annual reports of Albacora and its subsidiaries, articles in trade media, customs databases, databases on vessel movement and other sources.

July 2014

July 25, 2014
Palm oil supply chain of KLK
This study aimed to determine supply links between palm oil producer KLK and palm oil purchasers as Cargill, Kellogs, Unilever and others

Oxfam Novib

July 7, 2014
Driving Forest Loss: The factors behind road building in intact rainforests
This study, commissioned by Kriton Arsenis (Member of the European Parliament and founder of the RoadFree Initiative) and executed by Profundo, aims to identify the underlying drivers that push for road building in the Amazon and the Congo Basin regions, the world’s largest intact tropical forest reserves. Two regional initiatives (IIRSA and PIDA) of large-scale planning and development of primary roads are scrutinized to see which actors are behind these projects and what the impacts on intact forests are.

February 2014

February 6, 2014
Shrimp trade links between Thailand and selected EU countries and companies
This brief research assignment aimed to identify additional leads on links between Thai shrimp producers and selected European seafood traders and retailers, namely in the Netherlands, Germany and Belgium.


January 2014

January 14, 2014
Links between selected Bangladesh tanneries and European high street brands
This brief research assignment aimed to identify additional leads on links between Bangladesh tanneries and especially European brands. Previous findings from FoE research are not included in this summary once more; only additional information which may be useful in closing the supply chain is given.

November 2013

November 13, 2013
Companies using biomass for electricity
The growing demand for renewable energy in Europe is stimulating the United States wood pellet industries to expand their production of wood pellets explicitly for export to the European Union. Enviva is one of the largest manufacturers of processed biomass fuel in the form of wood pellets in the United States. This report focuses on the financial institutions involved in financing Enviva and two of its main customers.

October 2011

October 31, 2011
Quick scan of the TMT Group
The objective of this report is to make a quick scan of possible controversial activities of the Indonesian TMT Group. Controversial activities are defined as activities which potentially damage the environment, biodiversity, human rights and/or labour rights. The report focuses on TMT’s subsidiary PT ABM Investama and its subsidiaries, which are involved in coal mining.


October 17, 2011
The connection with French deep sea fisheries of Parlevliet en Van der Plas and Cornelis Vrolijk/Jaczon
This report describes the French companies Euronor and Armement Dhellemmes, which engage in deep sea fishing. Both companies are owned by Dutch members of the Pelagic Freezer-trawler Association (PFA). Euronor is 50% owned by Parlevliet en Van der Plas and Armement Dhellemmes is 91.5% owned by Cornelis Vrolijk/Jaczon.
October 27, 2011
Largest food and beverage companies in selected regions - methodology and recommendations
The main objective of this research project is to provide lists of stock-exchange listed food- and beverage companies based in the following selected regions: Africa, the Commonwealth of Independent States (CIS), the Middle East and South East Asia.


October 7, 2011
European trade and investment relationships with companies in Israeli settlements in occupied Palestinian territories
This report shows which European companies are trading with companies located in Israeli settlements in the occupied Palestinian territories
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