Agriculture and food

November 2022

November 30, 2022
JBS, Marfrig, and Minerva Unlikely compliant with upcoming EU deforestation Law
The report analyzes the potential deforestation in the supply chains of JBS, Marfrig, and Minerva that would not be compliant with the upcoming EU Law. Since the meatpackers do not monitor all indirect supply, they cannot guarantee compliance with the upcoming EU Deforestation law. Thus, meatpackers, leather operators, and FMCGs may face legal and reputational risks.
November 9, 2022
Traceability in Brazilian cattle and soy supply chains
This report discusses the traceability requirement of the new EU regulation on deforestation-free products and the feasibility of its implementation in cattle and soy supply chains in Brazil. Traceability is crucial to ensure that commodity production is not linked to deforestation or forest degradation.

October 2022

October 24, 2022
Financial Materiality in Latin American Soy and Beef Supply
This analysis calculates the profit that ten companies generate on their position in the supply chain of Latin American soy and beef. These commodities have a high risk of being linked to deforestation. The analysis can help to better assess the risks of deforestation in the context of highly limited data disclosure. The research was funded by the The Finance Hub, which was created by the Gordon and Betty Moore Foundation to advance sustainable finance.
October 10, 2022
End-term evaluation. Strengthening La Via Campesina for Peasant Action Social Justice Organising (PASO JUSTO)
This project entails an end-term evaluation of the project ‘Strengthening La Via Campesina for Peasant Action Social Justice Organising’ (PASO JUSTO), from 2017 to 2022. The evaluation focussed on the role played by the IPC Facilitation Committees (FC) and the IPC International and Regional Secretariats (the Secretariats) in strengthening the capacity of small-scale producers to participate in decision-making. The evaluation relied mainly on semi-structured interviews with key informants, including members of the IPC FC and the Secretariats, as well as representatives of the IPC support organisations. The findings show a mixed picture with positive and less positive results.
October 18, 2022
Forests & Finance database update 2022
The Forests & Finance Coalition launched the 2022 update of its database on global financial flows towards deforestation-risk commodities, as well as updated policy assessments of the 200 most important banks and investors in global forest-risk commodities in tropical forest regions. Since the Paris agreement was signed, banks have pumped USD 267 billion into forest-risk commodity companies, and as of September 2022, investors held USD 40 billion in bonds and shares in forest-risk commodities. On top of that, almost none of the biggest banks and investors have sufficient Environmental, Social and Governance (ESG) policies in place.

Website: Finance's role in deforestation

Report: Policy Assessment 2022: Is your money destroying rainforests or violating rights?

Antara News:

Brasil Amazonia Agora: Bancos financiam desmatamento ao redor do mundo

Disclose: Les banques françaises financent massivement la déforestation de l’Amazonie

ecoa: Relatório: grandes bancos seguem financiando desmatamento ao redor do mundo

Financial Times: Climate scientists criticise corporate emissions oversight body SBTi

Forests & Finance: Report: Global Bank Policies ‘Dangerously Inadequate’

Forests & Finance: Where Were You When It Mattered? – Why Financial Institutions Are (And Should Be) Going On The Record About Europe’s Deforestation Law

Forests&Finance: Video: Data Update | October 2022

Indonesia Today: Studi Menunjukkan Lembaga Keuangan Top Dunia Terus Memicu Deforestasi

Malaysiakini: World's top finance firms continue to fuel deforestation, report warns

Mongabay: Kajian Forest and Finance: Uang dari Negara Maju Berisiko bagi Hutan

Reporter Brasil: Maior banco da França é denunciado por financiar crimes socioambientais na Amazônia

Reuters: Maiores instituições financeiras do mundo continuam a fomentar o desmatamento, diz relatório

Reuters: World's top finance firms continue to fuel deforestation, report warns

Tempo: Apa Itu BI Checking dan Bagaimana Mengeceknya Sebelum Ajukan Kredit?

The Star: Low marks for many in financial sector

Warta Ekonomi: 90% Negara G20 Berikan Pembiayaan ke Perusahaan yang Berdampak Negatif pada Lingkungan

Warta Ekonomi: Negara G20 Andil 54% dalam Investasi ke Perusahaan Perusak Hutan

July 2022

July 8, 2022
EU deforestation regulation: Implications for the palm oil industry and its financers
This report discusses the EU’s regulation on deforestation-free products and how its requirements will affect the palm oil industry, one of the key commodities driving deforestation. The upcoming law, expected to be implemented in 2023, will have implications for palm oil supply chain actors and their financers.

June 2022

June 13, 2022
Wilmar’s Refineries and Brands Lag in Implementation of ESG Policies
Wilmar International is a high-profile ESG policy leader, and dominates the palm oil supply chain with a nearly 30% share. Wilmar sources only 7% certified sustainable palm oil for its refineries, and is also lagging sustainable sourcing for its own consumer/FMCG brands. Concerns about ESG violations and investor ratings have hampered Wilmar, also due to lack of transparency, the EU proposals on deforestation and supply chain due diligence will hurt Wilmar's investors and banks. This report evaluates financers’ risks and engagement opportunities related to Wilmar.
June 1, 2022
Foundational Research for Fair Value Chains and Food Systems
To support the strategy development of Oxfam Novib’s Fair Food Value Chains & Food Systems team, Profundo conducted foundational research to consolidate trends in international trade in agricultural commodities from selected countries to the Netherlands, identify opportunities for food systems transformation, and to map potential alliances across civil society to advocate for fair and just food value chains. The foundational research consists of four key pillars (market research, regulation and policy mapping, alternative food systems typology, and allies mapping), resulting in a set of recommendations to leverage opportunities for Oxfam Novib’s future campaigns on food systems transformation and fair food value chains.

May 2022

May 25, 2022
Cooking oil crisis in Indonesia
In April 2022, the government of Indonesia introduced a new regulation to ban the export of palm oil, to stabilize the availability of cooking oil within Indonesia. With palm oil Indonesia’s most widely used cooking oil, the regulation raised concern over shortages of palm oil in shops and markets. Furthermore alleged corruption and the demand in the biodiesel sector has led to a cooking oil crisis in Indonesia.
May 20, 2022
Labour rights observatory - Latin American cane sugar sector
This report has been commissioned by CNV Internationaal to launch the first annual report of the Labour Rights Observatory for the Latin American cane sugar sector. It presents the results of an online survey with 840 workers from Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, and Guatemala, that aimed to capture the labour situation in the sector, from the workers’ perspective. The results show a significant difference in perspectives between direct workers and outsourced or subcontracted workers. For example, outsourced workers receive lower wages and perceive to have worse working conditions. Moreover, the data suggest low participation of women in the sector and fewer job guarantees for women.
May 21, 2022
Soybean farming in Brazil
Chickens and pigs in Germany are fed with soy that is sourced in part from fields where the Amazon rainforest used to stand. Supermarket chains have pledged for years to remove this soy from their supply chains, but little has changed.
May 3, 2022
Brazilian soy imports to the Netherlands
The Netherlands is the biggest importer of Soy in the EU, 60% of Dutch soy imports are from Brazil, part of it is distributed across the EU. This study also shows that more than 85% is used as animal feed. The report commissioned by Greenpeace gives an overview of data on soy shipments to the Netherlands, destinations of Dutch soy imports from Brazil, estimated land use and the potential deforestation linked to the soy production.

April 2022

April 4, 2022
Coordination supermarkets scorecard
The fourth supermarkets scorecard has launched, which investigates the leading supermarkets’ sustainability policies and practices on human rights in their supply chains, transparency, and accountability. Profundo was responsible for the coordination between the participating countries (NL, UK and Germany) and for quality control of all scores for content, quality and consistency. In addition, we also provided all the documentation behind the research and provided an extensive analysis that was used for the campaign materials.

March 2022

March 8, 2022
The social impact of financial institutions' investments in Asia's agribusinesses
Profundo assessed for Fair Finance Asia (FFA) the policies of 54 Asian financial institutions actively providing credit and underwriting services to agribusinesses. The results show that between January 2016 and December 2020, selected companies received US$22.6 billion in loans and underwriting attributable to their agribusiness activities from financial institutions active worldwide. The largest creditors are from Japan, Singapore and Malaysia. Moreover, the report highlights the weak enforcement or overall lack of policies on gender equality, human rights, labor rights, and transparency and accountability.
March 4, 2022
Mapping the European Soy Supply Chain
This research provides the underlying data to better understand the soy flows on the EU27+UK market, including data on soy production and trade worldwide, as well as detailed data on soy use in the consumption of animal products in 2020.
March 7, 2022
Dutch public investments in agroecology
This report analyses how Dutch policies on foreign affairs, trade development, and other economic topics are promoting or hampering the advent and adoption of agroecology, agro-biodiversity and agroecological approaches and practices. More specifically, how public resources (both ODA as well as non-ODA, including through vehicles like Public Private Partnerships and blended finance constructions) are allocated to support agricultural development projects, and what share of, to what extent, and how, that funding is supportive of transformational agroecological approaches and practices.
March 2, 2022
African Oil Palm Expansion Slows, Reputation Risks Remain for FMCGs
African oil palm expansion is not working as planned. Only five international companies dominate industrial oil palm production in Africa. Some of which have been linked to social and environmental impacts, violating their buyers’ NDPE commitments. Therefore, investors may see risk in African palm oil caused by stranded land and reputation risk.
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