Ceres | Global Investor Engagement on Meat Sourcing
Two years after investors representing more than $11 trillion in assets called on six of the largest fast-food companies to mitigate climate and water risks in their meat and dairy supply chains, five of those fast food chains (McDonald’s, Yum! Brands, Chipotle, Domino’s and Wendy’s) have either set, or stated they will set, science-based emission reduction targets (SBTs).
Last year, only McDonald’s had set an SBT, and Yum! Brands had announced its intention to set an SBT. This rapid uptake of ambitious pledges in just one year shows the fast food sector is accelerating action on climate amidst rising pressure from investors. Despite this progress, further progress is needed on analyzing and mitigating water risks and performing climate scenario analyses as recommended by the Task Force on Climate-Related Financial Disclosures (TCFD).