ST. LOUIS, MISSOURI, US — Bunge Ltd. on May 24 announced it has surpassed its non-deforestation and sustainability targets for monitoring and traceability of soybean crops from its indirect supply chain in the Brazilian Cerrado. According to the company, it now is able to monitor at least 64% of indirect volumes in its priority regions, well ahead of the 50% target established for 2022 and on pace for 100% by the end of 2024.
The success in South America was one of several highlights noted in the company’s Global Sustainability Report (GSR) issued on May 24.
Bunge credited the Bunge Sustainable Partnership program for its significant strides in sustainability and for helping the company reach a more than 95% deforestation-free soybean supply chain in the priority regions of Brazil. Launched in 2021, the program was designed to help grain resellers assess suppliers’ social-environmental performance, including the use of farm-scale satellite monitoring. Bunge said the program has helped it become the first company to foster a large-scale effort in the Cerrado to track indirect purchases by sharing knowledge, methodologies and tools with resellers. The program also is raising the standards for transparency and traceability for the indirect soy supply chain, Bunge said.
Another benefit of the program has been the debut of a financial incentive mechanism that provides commercial benefits for resellers as they make progress toward their suppliers’ traceability. The company also will add other incentives for participating resellers, including increased access to digital monitoring tools and data, Bunge said.
“Our commitment to integrate sustainability into daily decisions we make as a company requires deep engagement with all our partners,” said Gregory A. Heckman, chief executive officer of Bunge. “For Bunge and the entire agriculture and food supply chains, we believe achieving real progress on non-deforestation means reaching new heights in the implementation of our approach and technology. The progress we have made in the past year is a testament to our collaborative efforts with farmers and customers and is evidence of the sustained impact we can provide.”
Bunge said its commitment to be free of deforestation and native vegetation conversion in its value chains in 2025 is a central part of its business strategy and planning — and is a crucial element to its climate and emissions reduction goals.
“Our business strategy is built around the growing need from our customers and partners to provide low-carbon solutions for the world,” said Rob Coviello, chief sustainability officer and government affairs at Bunge. “Bunge remains in a strong position to deliver as a sustainability leader and global connector for a better tomorrow.”Other highlights noted in the 2022 GSR report included Bunge’s commitment to climate action through the implementation of science-based targets (SBTs) to reduce greenhouse gas emissions within the company’s operations and throughout its supply chains, as well as the publication of a 2022 Global Non-Deforestation Progress Report, which highlights Bunge’s progress in achieving 100% traceability data for its direct-to-farm purchases for priority areas in Brazil, Argentina and Paraguay.