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Environment

Brazil's Amaggi only soy firm with "A" score for tackling deforestation - statement

FILE PHOTO: An aerial view shows a deforested plot of the Amazon rainforest in Rondonia State, Brazil September 28, 2021. REUTERS/Adriano Machado

SAO PAULO (Reuters) - Brazilian farm conglomerate Amaggi became the only global soy production and trading company to get an “A” score for tackling deforestation, according to a 2021 ranking complied by CDP, a non-profit charity that runs a global disclosure system for investors.

In a statement on Tuesday, Amaggi said this is the third time in a row that the company is recognized by CDP for the way it tackles deforestation on its supply chain.

Amaggi’s performance in the ranking underscores its drive to foster sustainable production practices, a response to investors and consumers demand as the planet deals with the severe effects of climate change. A privately owned company that grows and processes grains and fibers, Amaggi competes with firms like Cargill and Bunge.

In September, Amaggi committed to eliminating deforestation on its value chain by 2025.

Amaggi traded in some 14 million tonnes of grains globally in 2020, an amount the company will increase to 17.5 million tonnes this year.

Amaggi was Brazil’s second-largest corn exporter and No. 5 soy exporter through October, shipping respectively 1.8 million tonnes of the cereal and 7.1 million tonnes of the oilseed, shipping data show.

CDP’s methodology ranks companies on an A to D scale, and scores reflect companies’ level of disclosure, awareness, and management of environmental risks, among other criteria.

Companies that do not disclose or provide insufficient information are marked with “F.”

Amaggi said more than 590 investors with over $110 trillion in assets requested that companies disclose data through CDP’s platform in 2021. A record 13,000 companies responded, it said.

Reporting by Ana Mano; Editing by Mark Porter

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