Farm, food investors face $150bn loss on climate change – Report
By Nneka Nwogwugwu
The United Nations-affiliated campaigners said in a new report that top farming and food firms could lose up to a quarter of their value by 2030 if they do not adapt to new government policies and consumer behavior tied to climate change.
Research to be presented on Tuesday looked at how 40 big companies including agricultural producers and food retailers could fare under scenarios called key to reducing emissions, such as if governments impose carbon emssions prices or if consumers reduce their consumption of meat.
At the same time, business areas like plant-based meat and forest restoration offer the same companies big new opportunities, the report states.
The report does not name specific companies so it is not taken as investment advice, a campaign representative said.
It is being published by Race to Zero, a U.N.-backed campaign to address climate change. Researchers used data from Vivid Economics, part of consulting firm McKinsey & Co. The report will be presented at Climate Week in New York, a series of events tied to the gathering of world leaders in the city. read more
Backers said the findings show the importance of previous calls for investors and companies to eliminate deforestation tied to products like cattle, palm oil and soy.