Big Banks Make a Dangerous Bet on the World’s Growing Demand for Food

“And we don’t need fossil fuels.”As demand for food rises, the world’s banks and investors will ultimately determine whether an increasingly taxed food system fuels a climate collapse. Most of the emissions from agriculture and food companies come from their “Scope 3” emissions—emissions not from their direct operations, but from their supply chains. Of the world’s top food and beverage companies, only 16 percent disclose emissions from their agricultural supply chains. committing to deforestation-free supply chains, to which they adhere and to report on outcomes, ideally with some level of independent review,” the company reported. “They try to do everything they can to be intransparent in their supply chains,” said Gerard Rijk, senior equity analyst with Profundo, a Netherlands-based research group that tracks supply chains and investing.