Agribusiness Giants Tried To Thwart EU Cop26 Deforestation Plan

"Firms sought to weaken draft EU law banning food imports linked to deforestation eight days after vowing to accelerate action".

"Five of the world’s biggest agribusiness firms sought to weaken a draft EU law banning food imports linked to deforestation, eight days after pledging to accelerate their forest protection efforts at Cop26, documents seen by the Guardian show.

Forest protection hopes had been raised when the CEOs of 10 food companies with a combined revenue of nearly $500bn (£373bn) vowed to “accelerate sector-wide action” towards eliminating commodity-driven deforestation as the climate summit began on 2 November.

Agriculture is responsible for a quarter of the world’s greenhouse gas emissions, and the companies promised a supply chain reform plan to peg global heating to 1.5C by November 2022.

But on 10 November, trade associations representing five of the firms – ADM, Bunge, Cargill, LDC and Viterra – warned the EU’s green deal chief, Frans Timmermans, of soaring prices and food shortages if the EU proceeded with its own blueprint."

Arthur Neslen reports for the Guardian March 4, 2022.

Source: Guardian, 03/07/2022