Stockholm (NordSIP) – The FAIRR Initiative has launched its Sustainable Proteins Hub, a new interactive tool that allows investors to assess how 25 leading food companies use protein diversification in the context of sustainable production and consumption. Investors can compare company progress year-on-year and access individual company assessments, engagement questions, and best practice examples.
The Hub provides a centre for detailed information on the companies, their sector country of domicile and performance on six factors relevant for the creation of climate-aligned portfolios of sustainable sources of protein. The factors – Materiality, Strategy, Product portfolio, Consumer Engagement, Tracking and reporting Investor engagement – are rated and compiled into an aggregate score ranging from “Pioneer”, “Proactive”, “Active” and Reactive”, depending on their progress along the path of transition.
Together with the Hub, FAIRR also published a report discussing its finding on the state of the alternative sustainable proteins industry. Encouragingly, it finds that “protein transition has gone mainstream”. Of the 25 companies reviewed, Tesco and Unilever are classified as pioneers, while another nine companies, including ICA Gruppen, are considered to be proactive in their approach to sustainable proteins. Another eleven companies are rated as Active, Walmart. Only Kraft Heinz, Amazon and Costco are classified as Reactive.
The report notes that “Swedish retailer ICA Gruppen has seen the largest score increase following the launch of its Växa Initiative in May 2020, which outlines its strategic approach to increasing the development and consumption of plant-based foods.”
“Whilst it is highly encouraging that two companies have achieved top ‘pioneer’ status for their diversification into plant-based, and that 48% of companies now have Scope 3 targets that include emissions from animal agriculture, it is just the beginning,” commented Jeremy Coller Founder of the FAIRR Initiative. “We need to see many more food retailers and manufacturers set strategic goals, supported by relevant metrics, to track and report on their protein exposure over time. The risk for those that don’t, is that they get left behind.”