COFCO International raises sustainability goals to address environmental and social challenges

COFCO International, China’s main agri-food company, has announced an expansion of its sustainability objectives in its 2023 Sustainability Report. The company, with a presence in 36 countries in the Americas, Europe and Asia-Pacific, seeks to more ambitiously address the challenges related to deforestation, climate change and human rights.

COFCO International’s revised sustainability strategy, based on a comprehensive materiality assessment, focuses on key aspects such as preventing deforestation and conversion, climate action and respect for human rights. Among the specific objectives, the achievement of soybean supply chains without deforestation by 2025 and soybeans without conversion in sensitive regions of South America by 2030 stand out.

David Dong, CEO of COFCO International, emphasized the company’s commitment to transforming the food system toward sustainability. Dong said this approach is critical to the company’s mission to feed the world responsibly, especially amid growing vulnerability due to extreme weather conditions and water scarcity.

COFCO International signs agreement to supply deforestation-free soybeans from Brazil to China

In addition to its specific goals, COFCO International has achieved its supply chain traceability and socio-environmental risk management objectives within the framework of sustainability-linked loans, obtaining a notable Sustainalytics ESG rating in the sector.

The company is also actively involved in sector initiatives to address common challenges, such as the Agricultural Sector Roadmap to 1.5°C and the Soft Raw Materials Forum. Additionally, as part of the World Economic Forum’s Green Value Chain Working Group, COFCO International has established pioneering agreements to supply deforestation-free soybeans from Brazil to China.

COFCO International’s 2023 Sustainability Report highlights its contribution to specific goals of the United Nations 2030 Sustainable Development Goals and explains how its sustainability efforts support the International Finance Corporation’s Environmental and Social Performance Standards.