Soft Commodities Forum reporting
COFCO International is a member of the Soft Commodities Forum (SCF), a global platform for leading soft commodity companies convened by the World Business Council for Sustainable Development (WBCSD) for the purpose of advancing collective action around common sustainability challenges.
SCF members share a common vision of ensuring sustainable agriculture supply chains and working in partnership with government, producers, consumers and civil society to create a safer, more sustainable food system. SCF members are COFCO International, ADM, Bunge, Cargill, LDC and Glencore Agriculture.
About the June 2019 Report
The SCF members have committed to a common framework for reporting and monitoring progress on transparent and traceable supply chains for soy in Brazil’s Cerrado region. Each member company will report updates on progress every six months. This is the first time leading global commodity traders are working together in the soy sector on a pre-competitive project to address sustainability risks they all share, but which no single company can resolve alone.
In the June 2019 reports, the SCF members report individually on the percentage of soy they source from the Cerrado relative to the total Brazilian volume based on 2018 data. They each report the percentage of soy within the Cerrado that is sourced from 25 priority municipalities. Finally, they report the percentage of soy coming from the 25 priority municipalities that is sourced directly from farmers and indirectly from aggregators, cooperatives and other third parties. Six reports have been produced, one by each SCF member company.
Why does this report matter?
By prioritising 25 municipalities, SCF members are actively identifying where targeted interventions are needed to address native vegetation conversion to soy in the Cerrado. By focusing on the priority municipalities, SCF members will work together to protect native vegetation, supporting the adoption of more sustainable production practices and engaging directly with cooperatives, aggregators, and other third parties.
“We see the critical importance for conservation of Cerrado’s forests and native vegetation. Addressing land use challenges in Cerrado requires collaboration among actors across the whole soy value chain and beyond. COFCO International remains committed to working with producers, government, civil society groups, financial institutions and businesses towards this goal, while we continue to enhance our supply chain management.” – David Dong, CEO of COFCO International