In new analysis published to coincide with COP29 in Baku, Azerbaijan, the foundation assessed the emissions of 22 major meat and dairy companies based in Brazil, Canada, China, Japan, New Zealand, Switzerland and the USA, and across the EU.
It concluded that the current set of methane reduction commitments and initiatives that have been announced across the industry fail to address its role in worsening the climate crisis, while the foundation was critical of an over reliance on ineffective techno-fixes and a lack of public regulation that properly holds polluters to account.
As a result, Changing Markets is urging meat and dairy companies to set both short and long-term climate targets that are aligned with a 1.5C temperature trajectory, including the goal reduce methane emissions by 30% by 2030. It has called for livestock numbers to be reduced in conjunction with a shift towards more plant-based products.
Industry and regulatory change needed
After analysing policies in 11 countries around the world, Changing Markets found that nearly all national strategies lack mandatory requirements for cutting agricultural emissions and livestock production.
Instead, it witnessed an industry dominated by supply-side, technically-oriented policy solutions and support – particularly for biogas from manure – that the foundation has argued will fail to deliver the necessary emission reductions.
The analysis was conducted as part of a new briefing – ‘Big Emissions, Empty Promises’ – which also found that of the 22 companies included, 15 have made voluntary net-zero pledges.
However, only three of these pledges (from Danone, Nestlé and Lactalis) align with the Science-Based Targets initiative’s (SBTi) 1.5C target for reaching net-zero by 2050.
The briefing also investigated the impact of industry lobbying on national policies. Changing Markets concluded that the EU has seen at least ten European Green Deal policies “derailed”, including weakening the Farm to Fork strategy through the removal of any reference to reducing meat consumption and a lack of mandatory actions for the sector within the EU’s Methane Strategy.
Time to act
“Our new analysis shows how big meat and dairy companies' emissions continue to go unchecked thanks to the ongoing regulatory agricultural exceptionalism in the countries where the companies are headquartered,” said Alma Castrejon-Davila, senior campaigner at Changing Markets.
“When this is paired with weak voluntary commitments and initiatives that give us the impression that action is happening, the chance to limit climate catastrophe slips further away.”
Looking ahead, Castrejon-Davila explained that the science is clear in instructing leaders around the world that in order to keep the 1.5C limit alive, the world must rapidly address and reduce methane emissions.
“If we’re to achieve this goal, agriculture should no longer continue to get a free pass,” she continued.
“As COP29 commences, we call on State Parties, especially those signed on to the Global Methane Pledge, to set methane reduction targets for the agricultural sector that finally put a limit to Big Meat and Dairy companies’ emissions.”
