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A New Strategy for Transforming Food and Land Use Systems1FOLU 2030A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems23ContentsThe ChallengeMomentumHow we approached our strategyOur strategyDelivering change in countriesInternational engagementCall for partnership57811151921About FOLUThe Food and Land Use Coalition(FOLU)is a global community of innovators and experts working to advance sustainability,equity,and resilience in food and land use systems.United by a shared vision of rapid and transformative change,this network of seven Country Platforms,eight International Partners,and over fifty Ambassadors strives for a world in which food and land use systems enable people and nature to prosper.Created in 2017,FOLU advances diversity,embraces disruptive thinking,and forges consensus through an evidence-based approach.The Coalition empowers farmers,policymakers,businesses,investors,and civil society to unlock collective action at scale.International PartnersCountry PlatformsBrazilChinaColombiaEthiopiaIndiaIndonesiaKenyaOur vision is a world in which sustainable,equitable,and resilient food and land use systems enable people and nature to prosper.Our mission is to galvanize diverse leadership,expertise,and solutions for rapid and transformative change in food and land use systems.The Food and Land Use Coalition(FOLU)is now seven years old;and what a seven years it has been.When we came together in early 2017,we considered ourselves early movers at a time when the world had not fully acknowledged the impact the food and land use sector would have on our shared environmental and social objectives.FOLUs founding partners felt there was a need to bring together actors across agriculture,nutrition,livelihoods,health,climate,and biodiversity to work togetherand so the idea of a coalition was born.We were fortunate early on to secure the support of Norways International Climate and Forest Initiative(NICFI),followed by the IKEA Foundation,the MAVA Foundation,the UK Government,the Gordon and Betty Moore Foundation,and several other partnersfor whose support we are profoundly grateful.We built country platformsfirst in Colombia,Ethiopia,and Indonesiathen in China,India,and most recently in Kenya and Brazil.We strengthened our understanding of nutrition thanks to GAIN and EATs leadership and expertise.We mobilized global businesses,through the World Business Council for Sustainable Development.We championed a farmer-centric approach to working towards global food systems transformation with the World Farmers Organisation and deepened our engagement in Africa with AGRA,both partners joining in 2019.We modeled long-term food and land use systems pathways through IIASA and SDSN,and applied a critical look at national commitments and climate plans.We fostered a global network of Ambassadors and partners.We communicated relentlessly about the issues.And together,we have published and contributed to landmark research,including Growing Better(2019),which remains our cornerstone;and the Food Systems Economics Commissions Global Policy Report(2024),the most comprehensive study of food system economics to date.WRI and Systemiq have acted as gracious hosts for the Coalitions Secretariat throughout.More recently,the food and land use systems movement has started to take off.In 2020,our very own ambassador Dr.Agnes Kalibata was asked by the UN Secretary General to lead the UN Food Systems Summit.The pandemic,the cost-of-living crisis,and global conflicts all placed a new and pressing focus on the fragility of food and land use systems and the urgent need for greater sustainability and resilience.FOLU played its part in putting the need for reform on the international agenda through a series of COPs from Glasgow to Dubai.This culminated in 2023,with the Emirates Declaration,now signed by 160 governments;the launch of the Ministerially supported Alliance of Champions for Food Systems Transformation;and a major set of commitments from non-state actors through initiatives such as the Action Agenda on Regener-ative Landscapes.Throughout this time,we have grown together as a Coalition,as colleagues,and as friends.Our FOLU family has grown,with today more than 150 people involved internationally and within our seven country platforms.We have built relationships with many local organizations,learning and growing a great deal in the process.As we approach the end of our second phase in 2024,we have concluded that our work is not yet donethat indeed there is much more to do together.And so,with a refreshed governance model and a renewed sense of commitment and purpose,our ambitious strategy for the next phase sets out with a clear-eyed focus the points within the system in which we believe FOLU is uniquely well placed to drive change.This includes a stronger focus on engagement with businesses and financial institutions and tripling down on country implementation.We are grateful for your support and partnership as we embark on this critical next chapter.Our shared path forward A letter from the CoalitionMorgan GillespyExecutive Director,FOLUBoaz Blackie KeizireHead of Policy,AGRAGunhild StordalenFounder and Executive Chair,EATLawrence HaddadExecutive Director,GAINCecil HaverkampDirector,FELD Action Tracker,SDSNDiane HoldorfExecutive Vice President,Pathways,WBCSDAndrea PorroSecretary General,WFOCraig HansonManaging Director,Programs,WRIFelipe FariaFOLU BrazilShenggen FanFOLU ChinaClaudia MartnezFOLU ColombiaSofia AhmedFOLU EthiopiaS Vijay KumarFOLU IndiaTjokorda Nirarta“Koni”SamadhiFOLU IndonesiaMichael OnchaboFOLU KenyaGuido Schmidt-TraubPartner,SystemiqA New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems45The Challenge Current systems fail people and planetHumanity has achieved remarkable feats over the past fifty years.Since the 1960s,world agricultural output has well outpaced global population growth over the same period.Simultaneously,the share of the world population that is undernourished has decreased.On the face of it,weve managed to feed a growing population with abundant and affordable food while catering to increasingly diverse and demanding tastes.However,the regional distribution of these global successes has historically been unequal.Furthermore,they have come at hidden costs to our environment,societies,and the health of the people who work in and inhabit them.Simultane-ously,the vulnerabilities of our food and land use systems have been made painfully evident in recent years due to COVID-19,escalating conflict,increased burden of malnutrition,and diet-related non-communicable diseases,all compounded by worsening climate impacts.Food and land use systems come at a cost to nature,the climate,and people:they are a key driver of deforestation,biodiversity loss,and land and water degradation;food production is responsible for a third of global greenhouse gas emissions;and millions remain hungry and malnourished,while millions of smallholder farmers are locked into poverty.Overconsumption of finite natural resources has further exacerbated these costs,prompting calls for a paradigm shift in how we think about the bio-physical systems that sustain us.We will only achieve our global goals on sustainable development,climate,and nature if we transform how we produce and consume food and manage our natural resources.Five major barriers need addressing1.Concentration of power in food and land use sytems.Much of the risk posed by climate change and biodiversity loss is carried by producers,including millions of small farmers who often lack the capital needed to shift to more resilient and regenerative agricultural practices.Progress,and a transition that is both just and effective,will require reimagining how producers and their value chains interact.2.Policy paralysis.Responding to several crises including acute conflict,pandemic recovery and ongoing inflationary pressure,and the impacts of climate change,many governments are reverting to short-term fixes rather than systemic cross-sectoral policy reforms.Often,even where ambitious commitments and measures are in place,they face serious challenges to policy implementation and resistance from those benefitting from the status quo.3.Lack of a voice for grassroots movements.Global and national modeling demonstrate that better food and land use systems are possible.However,advocates must embrace and nurture more bottom-up,inclusive approaches to initiate change on the ground.4.Wavering commitment to healthy and sustainable diets.Shifting diets and reducing consumption footprints are some of the strongest levers for unlocking the benefits of transforming food and land use systems.However,governments have shown little appetite to intervene in the markets that shape and respond to consumer preferences or pivot from crisis aversion to long-term resilience.5.Fragmentation of effort.Civil societyand all actors in food and land use systemsstruggle with a persistent lack of consensus on priorities and the targeted,contextually specific,and pragmatic actions required to overcome barriers to change.Too often,research and initiatives at an international level are not informed by or ignore the needs of national agendas,and local action does not fully leverage global insights and opportunities to learn from other contexts.A better future is possibleFOLUs flagship report Growing Better sets out a compelling reform agenda to transform food and land use systems globally,based on ten critical transitions.The economic logic is clear:up to$10 trillion could be unlocked annually through avoided health,environmental,and social costs coupled with new business opportunities.This dwarfs the$350 billion annual investment needed to facilitate the needed transitions and benefits.The progress we need in food and land use systems requires breaking down silos and working collectively.FOLUs new strategy exemplifies how coalition-led efforts can drive real,on-the-ground change for both people and the planet.Ertharin Cousin,CEO and Founder,Food Systems for the FutureFOLU Ambassador5A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems67Momentum A shared vision for action is emergingIndividually,FOLUs critical transitions are difficult to deliver.But by taking a systems approach and empowering key actors around multiple transitions,new solutions emerge that can break through the inertia.The impacts of our current food and land use systemspolluted rivers,crop failures and the subsequent spiking of commodity prices,flash floods,and forest firesare concentrating the attention of citizens,farmers,politicians,and business.FOLU was an early mover and now forms part of a broader ecosystem of myriad platforms,coalitions,and citizen movements that catalyze systemic solutions to food and land use issues.New political impetusFood and land use systems are an increasing focus of the global sustainability agenda,partly thanks to FOLUs efforts to mobilize action.In 2021,the United Nations Food System Summit(UNFSS)marked a significant milestone in driving political action around food and land use systems:it succeeded in convening diverse stake-holders to launch bold new actions,solutions,and strategies aimed at transforming food and land use systems to achieve all 17 Sustainable Development Goals.Two years later,134 governments endorsed the COP28 Emirates Declaration on Sustainable Agriculture,Resilient Food Systems and Climate Action.At its launch,the signatory countries of the Declaration represented more than 5.7 billion people,almost 500 million farmers,and 70%of all food eaten.The Declaration,which has since been endorsed by over 25 additional countries,provides a new political mandate to drive forward food and land use systems transformation.The Alliance of Champions for Food Systems Transformation(ACF)was also launched at COP28,demonstrating leadership and commitment at the national level to act on food and land use systems transformation.Countries have begun the hard task of delivering on their commitments.The private sector is respondingAs governments and their citizens increase their focus on food and land use systems,leading companies are also taking action to win the prize of the transition.COP28 saw the launch of the Action Agenda on Regenerative Landscapes,which unites 30 of the worlds leading food and agriculture organizations across the value chainfrom farmers to agribusinesses,financiers,local governments,and civil societyto unlock the scale-up of regenerative landscapes.As of COP28,participants have reported partnering with 3.6 million farmers to transition 160 million hectares across 115 countries and 40 commodities,with over$2.2 billion in transition funding committed.Growing numbers of investors are committed to seizing the substantial economic opportunity associated with the transition,which Growing Better estimates at up to$4.5 trillion annually.Farmers are at the forefront of changeAt COP28,70 representatives of national farmers organizations underlined the critical role of farmers in the fight against climate change,calling on governments to support the work they must do and are already doing on the ground.A successful transformation of food and land use systems will depend critically on engaging with farmers in defining achievable,quantifiable goals that take into account the protection of farmers rights and livelihoods,the well-being of rural communities,and the unique biological nature of farms.FOLU is well placed to inspire impact Our unique composition,partnership,and approach have helped to accelerate the pace of change over the past seven years.FOLUs Country Platforms have been acting on food and land use systems transformation with innovative approaches that are ready to be scaled to generate impact.The transformation of food and land systems is one of the most pressing challenges.We must harness innovative practices and sustainable strategies to manage our precious land resources wisely,ensuring food security and ecological balance for future generations.The time to act is now.The FOLU 2030 Strategy is vital to leveraging coalition power to drive a just and sustainable transition for all.Dr Agnes Kalibata,President of AGRA FOLU Ambassador7A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems89Process Our ambitious strategy development processAt the end of 2023,FOLU engaged across the whole Coalition and beyond to understand how we could improve our impact and meet the scale of the challenge.What we do wellThrough this strategy process,we consistently identified four areas where FOLU excels and where we add value to the broader community.1.Systems focus.FOLU always takes a systems lens to transforming food and land use systems that looks beyond individual sectors and agendas.This means considering all aspects of our food and land use systemsfrom farm to fork.For instance,FOLU has supported policymakers and practitioners in identifying effective policy measures and system levers through a framework for leveraging positive tipping points.2.Transformative solutions.FOLU focuses on solutions that can close the gap between what science tells us is necessary and the current state of a system or country.Since 2021,FOLU has been piloting actions within its country platforms and is now ready to scale many of these.3.Synergies.FOLU provides capacity to governments and other partners to ensure the effective and efficient deployment of resources.FOLU seeks to drive collaborative action across the Coalition,recognizing that the breadth and depth of FOLUs network is one of its greatest strengths.4.Consensus-building.FOLU is committed to consensus-building and applying evidence and on-the-ground experience to the many issues that threaten to derail the transition.FOLU brings together actors from across global food and land use systems,making it well suited to address their most complex and multilayered challenges.Where we need to focus moreThe strategy development process also identified areas where FOLU wants to strengthen its approach to ensure we drive the greatest impact possible.1.Deeper coalition collaboration.As a diverse network of networks,FOLU needs to strengthen the bonds that bind together FOLUs many partners,international and national,by encouraging collaboration and the flow of information.2.Move all stakeholders together.System change can only succeed if all parts of the system are aligned in their understanding and directionsensuring no stakeholder group is left behind.This requires working with those with power in the system and those who currently lack it.3.Country-led change.As FOLU continues to shift from setting ambition to accelerating implementation,we will further build the capacity and resources available to country platforms to form trusted relationships with key stakeholders in government and beyond.4.Politically salient framing.FOLU will embed its work within existing national processes,institutions,and contexts to ensure lasting and transformative change.FOLU also recognizes the importance of framing food and land use system challenges and opportunities as politically advantageous to address for business and the financial sector.5.Strengthen governance and embed learning.Reinforcing the Coalitions governance will ensure that FOLU can scale and deepen its operations effectively.In parallel,a more organized approach to learning will enable effective dissemination of lessons learned and best practices throughout the Coalition.Impact in numbersHeadline figures from FOLU Phase 2 Impact Report(2021-2024)FOLU is proud of the role we have played in shifting food and land use issues from siloed efforts toward more holistic agendas.Some of our headline numbers from Phase 2(2021-2024)are below.However,not all impact is easily quantified or in the open.FOLU often supports and empowers partners to catalyze action rather than delivering services directly to farmers or consumers.Our Impact Report offers nine narrative stories of our influence and impact over the past three years.1000 3.5M5.7BN70 IMPACTING PEOPLEpractitioners using ColombiasREGENERATION PLATFORMfarmers PARTNERING WITH MULTINATIONALS via WBCSD initiativelives improved if EMIRATES DECLARATION is fully implementedFARMER VOICES at COP283.1MHA170 7.3KHA400 160MHA125%REGENERATED LANDBUILDING KNOWLEDGEunder SUSTAINABLE AGRICULTURALPRACTICES in EthiopiaFOLU KNOWLEDGE PRODUCTS publishedtransitioned to REGENERATIVE CATTLE RANCHING in ColombiaWORKSHOPS DELIVERED around the worldcommitted to transition to REGENERATIVE AGRICULTURE by leading multinationalsincrease in FOOD SYSTEMS media mentions from COP27 to COP2820251885SUPPORTING POLICYMAKERSMINISTRIES ADVISED globally on food systems transformationNATIONAL ACTION COALITIONS establishedTOOLS developed to enhance national decision-makersFARMER ORGANIZATIONS provided guidelines to policymakers1725 23ENGAGING BUSINESScompanies piloting SCIENCE-BASEDTARGETS for naturecompanies advocated for POSITIVE POLICIES ahead of COP28companies joined CENTER FOR AGRI-FOOD SECTOR SUSTAINABILITY&CLIMATE ACTION in China300M PESOS$300M$64MMOBILIZING RESOURCESinvested by Colombias national bank into NEW REGENERATION FUNDPHILANTHROPIC INVESTMENTS directed to reducing food loss and wasteMOBILIZED FOR FOLU with 50%to scale in-country actionA New Strategy for Transforming Food and Land Use Systems9A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems1011Our strategy Goal We are accelerating the transformation of food and land use systems to deliver for people and planet.Everything we do has this as its objective for the simple reason that systems are not changing fast enough.In too many cases,they are trending in the wrong direction entirely.ImpactWe track progress across four key impact areas:human health and food security,community livelihoods,environment,and climate.Progress and success in these four impact areas represent a holistic improvement in the food and land use systems we engage.For each impact area,a top-line system goal for 2030 anchors our ambition to ensure we are focused on transfor-mational change.These are:Improving human health and food security.Ensure that all people have access to a nutritious,healthy diet.Supporting resilient farmer and community livelihoods.Ensure that all jobs created in food and land use systems transformations are remunerative and equitable,contributing to a just transition.Reducing and reversing nature loss.Ensure sufficient food is produced within the existing agricultural land footprint,i.e.,no more conversion of natural ecosystems,per the Glasgow COP26 Declaration on Forest and Land Use.Addressing climate change.Ensure that the food and land use sector is doing its part to deliver on interna-tional agreements for the reduction of greenhouse gas emissions and adaptation to the intensifying effects of climate change.Pathways We work towards these goals through four strategic pathways.The first three focus on bringing stakeholders together within a particular scopea geography or a productto develop holistic solutions.The final pathway is cross-cutting.We strongly believe there is a role for all stakeholders to play in all pathways;the examples high-lighted are indicative and non-exhaustive.1.Landscape transformations.We will promote landscape-based approaches at the appropriate scales for their local contexts.Food and land use issues do not always abide by human jurisdictionsthey follow natures patterns and communities.Depending on the landscape,planning at the level of a water catchment area,a biome,or a community can enable more holistic management.All stakeholders must collaborate,drawing on FOLUs networks with different groups from local partners to businesses and policymakers.Engaging with farmers and frontline communities will be essential to scaling this approach.Farmers are both crucial eco-nomic actors in their communities and society,are deeply connected to the landwhich transcends political boundariesand are directly impacted by its health and productivity.Farmers possess invaluable local knowl-edge and can act as stewards of the landscape,implementing and spreading sustainable practices across the region.By involving them in the process,we will tailor landscape transformations to local needs,ensuring greater adoption and long-term success.Feeding the world without plundering the planet requires a reinvention of our food system and unprecedented collaboration.FOLUs approach brings together sectorspublic,private,and civil society to create sustainable solutions.In fact,forward-thinking businesses will leap upon this agenda which can unlock$4.5 trillion a year in new business opportunities.Paul Polman,Business leader,campaigner,CEO of Unilever 2009-19,Co-author Net Positive FOLU Ambassador11A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems12132.Value chain collaborations.Through this pathway,we will transform value chains by aligning and mobilizing key food value chain actors around solutions.This requires new forms of cooperation that allow for more equitable sharing of value and risk between actors and recognize how decisions at one end of the value chain affect stake-holders at the other.Business and investors play a critical role in working with stakeholders at all points in the value chain.Just as fostering transparency and accountability across the entire value chain will make it easier to identify and mitigate risks,strengthening trust between all actors will be essential to unleashing collaboration to deliver shared goals.3.Integrated,inclusive policy.We will focus on supporting countries and local actors in strengthening national action plans,in operationalizing existing and new commitments,and leveraging international support and engagement from other stakeholders such as farmers and business where needed.Despite bold commitments to both mitigation and adaptation,too few governments are putting in place the enabling environment to achieve them.Integrated policy platforms and action plans can help to balance competing objectives,ratio-nalize contradictory or ineffective policies,and build broad stakeholder support for bold government action.It will be essential to engage with government and financial institutions.4.Consensus-building.The final pathway is cross-cutting,focused on building an understanding of systems transformation by tackling complex and potentially controversial aspects of food and land use systems.FOLU will lean into the contested areas that have the potential to derail progress and focus on supporting consensus through evidence and dialogue.By its nature,this approach will require the engagement of all stakeholder groups:government,business,the financial sector,farmers,and more.FOLU works across all of these groups,enabling us to bring together the diverse perspectives represented by these sometimes disparate stakeholders.Capabilities and dedicated internal mechanismsFinally,we will seek to develop and strengthen the capabilities we need to deliver this ambitious program with the flexibility and creativity to overcome unexpected obstacles.We are focused on deepening our partnerships with global and national organizations based on shared goals while empowering our country teams by investing in their growth.These teams,in turn,are stepping up their leadership,driving local efforts,and setting examples for others to follow.We will formalize our learning processes to ensure we continue to strengthen our interventions and catalyze broader learning with our partners.Effective collaboration demands transparent,inclusive governance,and we have revamped our decision-making processes to ensure we operate as a true collective mind.Finally,we need stable,flexible resources to deliver the long-term changes towards which we work and have launched a major resource mobilization campaign to sharpen our effectiveness.GoalTo accelerate the transformation of food and land use systems to deliver for people and planetImpactImproving human health and food securitySupporting resilientfarmer and communitylivelihoodsReducing and reversing nature lossAddressingclimatechangePathwaysValue chaincollaborationsLandscapetransforamtionsIntegrated and inclusive policyConsensus-buildingCapabilitiesDeepening ourpartnershipsEmpowering ourcountry teamsFormalizing our learning processesBroadeninggovernanceStable,flexibleresourcesFOLUs strategy at a glance12A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems15FOLU is uniquely equipped to catalyze the transformation of food and land use systems,with its 2030 Strategy providing a clear pathway for sustainable change.This strategy turns ambition into action,building a future where resilient food and land use systems are at the core of human prosperity and environmental health.Cristin Samper,Managing Director and Leader of Nature Solutions,Bezos Earth Fund FOLU Ambassador1415A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems1617Delivering change in countries We believe real change takes place on the ground.FOLU has established seven Country Platforms,each host-ing a coalition of national and global partners working towards a common agenda:Brazil,China,Colombia,Ethiopia,India,Indonesia,and Kenya.Together,these countries represent half of the worlds population,40%of global food production,and half of the remaining primary tropical forest,meaning that improvements in their food and land use systems have a significant global impact.Each country platform is unique and requires a tailored approach to food and land use systems transformation.A country-led approach ensures sovereign priorities shape FOLUs activities with engagement from FOLU International Partners where relevant.KenyaOur approach.In a context where food and land use systems actors are work-ing in silos,FOLU Kenya works closely with the national government and a diverse national coalition to push forward food and land use systems transformation with one voice that offers solutions and galvanized expertise.Our work focuses on advanc-ing an agenda for productive regenerative agriculture in Kenya,promoting consumption of healthy diets,reduction of food loss and waste,supporting protection and restoration of nature,and a whole-systems approach to pol-icy at national and sub-national levels to ac-celerate the holistic transformation of food and land use systems in the country.Colombia 200 regional partnersOur approach.Through collaborative meth-odologies,FOLU Colombia has engaged over 600 participants from civil society,academia,government,and private entities to develop diagnoses and roadmaps for key food producing departments,creating strategies and coordi-nated actions for impactful,context-specific solutions.These roadmaps guide actions to promote regeneration,food policy shifts,and innovative financing mechanisms.BrazilOur approach.FOLU Brazil endeavors to unite the Brazilian food and nature protection systems,forging strong connections between global and national climate actions.By linking opportunities and risks in the Brazilian food industry with global value chains and family farming,the goal is to create synergy among existing local and regional activities,attract resources and investments,and incentivize innovation.FOLU Brazil will act to bring the topic of climate resilience and adaptation to national food security plans and discussions.IndiaOur approach.FOLU aims to create impact by harnessing the individual and collective strengths of the partner organizations as well as its position as a unique coalition.By engaging government at national and subnational levels together with civil society,FOLU India aims to help catalyze food and land use systems trans-formation in the country.Our activities include work to develop sustainable and regenerative agriculture practices in specific agro-climatic contexts;addressing issues of food loss and food waste;supporting state-level governments to implement policies that focus on crop diver-sification;and promoting plant-based,nutrient-dense,culturally sensitive foods to improve health outcomes.ChinaOur approach.FOLUs approach to transfor-mational change in China focuses on those aspects of Chinas domestic transformation that have spillover effects on the world,as well as Chinas role in the global food system trans-formation through investment,supply chains,and technology transfer.Within the Chinese context,we explore domestic transformation pathways,address key gaps in the transition,and provide an enabling environment for various actors.We identify opportunities to address gaps in knowledge and evidence while promoting synergies between different policy priorities to accelerate and deepen reform efforts.Additionally,we aim to strengthen the scientific and economic evidence base for pol-icy reform and demonstrate impact through local pilots and multi-stakeholder approaches.EthiopiaOur approach.Over the next five years,FOLU aims at becoming a leading partner to which food system actors turn to advance trans-formative food and land use system actions in Ethiopia.The platform will continue to serve as a trusted advisor to government,build new partnerships to move from commitments to actions,and test and scale up innovative interventions with motivated public and private sector actors.We will advance regenerative and sustainable agriculture,reduce post-harvest loss in selected agricultural value chains,advance healthy diets,and promote blended finance solutions.IndonesiaOur approach.The top-down,centralized nature of Indonesian food policies in recent decades,coupled with the promotion of rice as a staple nationwide,is creating escalating environmental and health costs.A more bottom-up and eco-regional approach to food system policy that respects and promotes local food resources and wisdom would enhance food security and go a long way towards correcting the countrys nu-tritional problems.FOLU Indonesia is working to promote this vision.A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems1819International engagement FOLU International Partners support food and land use systems transformation through their participation in national coalitions and their contributions to FOLUs international work.Combining global knowledge and engagement with country-level insightsFocus on country access.We will focus our work on ensuring global tools,analyses,and initiatives created by FOLU partners are available to countries and adapted and tailored for use at a local level.This includes tools and resources to navigate political-economy challenges;support national planning,target-setting,and decision-making;help farmers and communities;and support businesses to transform their value chains.Examples include the co-development of our Prosperous Land,Prosperous People report series on scaling finance for nature-based solutions in Colombia and Kenya.Elevate country insights.We will leverage FOLUs country platforms to exchange best practices,synthesize learning,and share insights at international forums to shape global agendas and scale effective policies,e.g.,by elevating regenerative agriculture solutions to a broader audience and establishing regional structures for financing nature-based solutions.With rising urgency of national implementation,FOLU will support local dialogue and accountability of policy action and international support as needed.Address contested topics.We will continue FOLUs record of thought leadership by using evidence to build consensus on contested topic areas.Through a science-and evidence-based approach,in addition to convening and dialogue,we will contribute to a common understanding of some of the most controversial challenges and opportunities,emerging with a common vision of change.Such topics include improving diets,enhancing the sustainability of the livestock sector,shifting the economics of ultra-processed foods(UPFs),and assessing progress and action on global goals related to food and land use under climate,biodiversity,and development frameworks.Driving transformational change across stakeholder groupsMobilizing government and multilateral processes.We will leverage the Coalitions partner networks to bring diverse voicesincluding farmers,businesses,and partners involved in FOLUs country platformsto the policy table and work closely with UN institutions and other partners to coordinate action.This includes calling for high-ambition policy environments;benchmarking progress;advancing policy commitments;informing global agreements to ensure they take a holistic approach;and convening state and non-state actors at local,national,and international levels to amplify messages and drive meaningful,sustained collaboration.Mobilizing business.Where regulation lags or is impractical,supporting voluntary business action is critical to achieving food system transformation at scale.Business must drive context-specific solutions,noting their critical dependence on the agricultural products,landscapes,and geographies in focus.We will prioritize arming businesses with the necessary tools to set,deliver,and report on science-based targets,including through SBTN;explore tailored solutions through a value-chain approach;and strengthen collaboration between businesses and other stakeholders at the landscape level.In this way,we envision business as a powerful and positive force for transforming food and land use systems.Mobilizing investors.To transform food systems,financial institutions from the public and private sectors must redirect and increase their annual investments to over$536 billion annually by 2050,four times the amount invested today.High risks,low returns,long time horizons,and small ticket sizes require catalytic investors and the public sector to scale concessional finance and unlock private sector investment.We will work with financial institutions to put food and land use systems actual costs on the balance sheet and unlock responsible finance.Engaging with farmers and communities.Farmers and other land stewards are not passengers in this trans-formation.They are the original innovators,sharing knowledge,infrastructure,and networks to support better outcomes.Just as farmers are not a homogenous group,their roles in food and land use systems are unique and multidimensional.The challenges facing a smallholder farmer experiencing acute food insecurity are inherently different from those posed by transitioning a large,capital-intensive farm to new approaches.Farmers can be victims of the risks inherent in the current system but are also a powerful political force for change.They are important partners in our private sector work and a crucial source of knowledge and experience from which to learn.We will seek to unleash the innovation latent in this diverse stakeholder group as changemakers in the system,ensuring that farmers can actively shape the environment in which they operate.A strategic communications strategy underpins global engagementStrategic communications are essential for raising ambition and connecting solutions to people.They can also shift the possible by helping to create a deep understanding of system change.We seek to achieve three key objectives through our communications in Phase 3:(1)mainstream FOLUs agenda by providing the right messages to the right people at the right time;(2)facilitate knowledge sharing and access to learning,prioritizing opportunities to highlight the links between our international and country-level food and land use systems initiatives;and(3)challenge the status quo and build consensus.Through an inclusive,decentralized,targeted,and politically salient approach,FOLUs communications function will support fulfilling these objectives and underpin the rest of the Coalitions international engagement.A robust monitoring and evaluation strategy ensures global results and impactOur approach will involve implementing a comprehensive monitoring and evaluation(M&E)system to enhance learning,collaboration,and alignment with funding partner expectations.We will strengthen our approach in Phase 3 by(1)creating more space within formal MEL processes for reflection,discussion,and iteration;(2)priori-tizing learning as a key outcome;and(3)increasing resources for M&E activities.This system will help us manage adaptively,deliver meaningful results,and ensure accountability through regular monitoring and evaluations by third-party experts.This approach will be informed by a high-level results framework that builds on FOLUs theory of change,focus-ing on outcome-based indicators and merging past efforts into strategic goals that align with national plans and global standards.Our results framework will support food and land use transformations within specific country contexts while allowing for adaptive programming.As we progress,we will fine-tune these indicators,create an annual impact dashboard,and closely monitor outcomes to continually improve and guide future strategies.19A New Strategy for Transforming Food and Land Use SystemsA New Strategy for Transforming Food and Land Use Systems21Call for partnership Too often efforts to change food and land use systems are fragmented.Global initiatives risk disconnection from the lived realities of those on the ground,while local food movements can struggle to connect with the markets they need to scale.This runs counter to the problem at handdeeply interconnected systems and wicked problems that cannot be solved in silos.FOLU was established to reduce these silos and foster greater collaboration between its partners.We extend that offer to others who share our vision.We seek to build open,generous partnerships across government,business,farmers organizations,civil society,and funders to accelerate change.Only by acting together can we achieve a better future.FOLU is deeply grateful for the generous support of its funders,which include:Bezos Earth Fund;ClimateWorks Foundation;Federal Ministry for Environment,Nature Conservation and Nuclear Safety(BMUV),Germany;For-eign,Commonwealth and Development Office(FCDO),UK;Gordon and Betty Moore Foundation;IKEA Founda-tion;MAVA Foundation;Norways International Climate and Forest Initiative(NICFI);Peoples Postcode Lottery,UK;Porticus;Quadrature Climate Foundation;Rockefeller Foundation;Sequoia Climate Foundation;and The David and Lucile Packard Foundation.A New Strategy for Transforming Food and Land Use Systems21In the expansive field of food and land use,FOLU connects the dots,builds bridges,and fosters essential conversations on transforming food systems.Despite these systems many complexities,FOLU drives change and paves the way for actionable,sustainable outcomes.Louise Mabulo,Founder,The Cacao Project FOLU Ambassador2021A New Strategy for Transforming Food and Land Use Systems22foodandlandusecoalition.org FOLU 2030A New Strategy for Transforming Food and Land Use Systems
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March 2024Future Fit Food and Agriculture:Developments in voluntary frameworksand standards and their influence on legislation for businessesForeword and acknowledgements 3 1.Context 4 2.Overview of key voluntary frameworks 5 3.Overview of key mandatory frameworks and regulations 13 4.What food and agriculture companies should do 20 5.Summary 22 6.References 23ContentsDisclaimer:The content of this report reflects as best as possible the landscape of voluntary business frameworks and standards,and public policies and regulations relevant to sustainability(with a focus on climate and nature)in the food and agriculture sector,as of January 2024.The landscape continues to evolve so readers are encouraged to check for subsequent developments.Please message infofolu.org if you have comments,additions and/or updates to the contents presented here.The contents and opinions expressed herein are those of the authors and do not necessarily reflect the views of the associated and/or supporting institutions or of consulted experts.Future Fit Food and Agriculture2This report is the first of two reports in the Future Fit Food and Agriculture series,which aims to support food and agriculture companies to 1)understand the implications of current and emerging voluntary standards and regulation for climate and nature,and 2)comprehend the financial costs and benefits of implementing land-based GHG mitigation measures.The two reports in this series are:Future Fit Food and Agriculture:Developments in voluntary frameworks and standards and their influence on legislation for businesses(this report)Future Fit Food and Agriculture:The financial implications of mitigating agriculture and land use change emissions for businesses With these reports we seek to achieve:A significant scale-up in the number of food and agriculture companies setting and delivering climate and nature strategies;Accelerated mobilization of finance across value chains to implement the land mitigation solutions needed by 2030 so that the food and agriculture sector can achieve net zero by 2050;Effective and responsible corporate advocacy,calling for greater public-sector regulation and action from financial institutions.The series was produced in partnership between:The Food and Land Use Coalition:FOLU brings together a diverse network of country platforms,partner organizations and ambassadors working to advance sustainability,equity and resilience in food and land use systems.The coalition empowers farmers,policymakers,businesses,investors and civil society to unlock collective action at scale.The World Business Council for Sustainable Development:WBCSD is a global community of over 225 of the worlds leading businesses driving systems transformation for a better world in which 9 billion people can live well,within planetary boundaries,by mid-century.Together,we transform the systems we work in to limit the impact of the climate crisis,restore nature and tackle inequality.We Mean Business Coalition:The coalition works with the worlds most influential businesses to take action on climate change.Together,the Coalition catalyzes business and policy action to halve emissions by 2030 and accelerate an inclusive transition to a net-zero economy.This series was made possible by the generous support of Norways International Climate and Forest Initiative(NICFI).Foreword and acknowledgementsThe drafting of this first report was primarily led by:The drafting of this first report was primarily led by:Elizabeth Petykowski,Kitty Parker Brooks,Alexandre LHeureux,Abel Hemmelder,Paul Limpens,Liz Kirk and Talia Smith of FOLU.Christine Delivanis(Systemiq),Morgan Gillespy(FOLU),Kate Newbury-Hyde(WBCSD)and Luke Pritchard(We Mean Business Coalition)have also been major contributors to the report series and are owed many thanks.The authors would also like to thank the large number of individuals and institutions that have generously contributed time and energy to comment on drafts of this report.We would especially like to thank Richard Waite(World Resources Institute)for peer review.Alessandro Passaro,Science Based Targets Network,FOLU and Systemiq Alessia Mortara,FOLU Alex Andreoli,FOLU Eva Zabey,Business for Nature Elinor Newman Beckett,FOLU Guido Schmidt-Traub,Systemiq Marco Daldoss Pirri,Science Based Targets Network,FOLU and Systemiq Mara Alejandra Pulido,Climate Bonds Initiative Morten Ross,holistiQ Investment Partners Natasha Mawdsley,FOLU Olaf Erenstein,FOLUOluwatoyin Oyekenu,Climate Bonds Initiative Rob Cambell Davis,FOLU Rupert Simons,Systemiq Scarlett Benson,Science Based Targets initiative,Science Based Targets Network,FOLU and Systemiq Tom Hegarty,Taskforce on Nature-related Financial Disclosures Zoe Greindl,Business for NatureWe are also very grateful to the following people for their comments and input on this report:Future Fit Food and Agriculture3ContextTodays food and land use systems are no longer working optimally for people and the planet.1 Many struggle to access healthy and affordable food.More than 700 million people globally faced hunger regularly throughout 2022.2 Global demand for food is estimated to increase by 35-56%by 2050.3 At the same time,producing food is also damaging the environment.Food systems contribute approximately one third of total global greenhouse gas emissions annually,4 are the largest drivers of ecosystem conversion5 and biodiversity loss6 and account for approximately 70%of freshwater withdrawals globally.7While food and land use systems are now recognized as primary causes of the climate and nature crisis,they are also seen as critical to the solution.Land-based mitigation strategies can contribute over a third of the mitigation potential needed to achieve the Paris Agreements goal to limit global warming to 1.5C,8 and it is possible to exceed this estimate by protecting natural carbon sinks,such as intact tropical forests.9 Therefore,transforming food and land use systems is crucial to keeping the 1.5C Paris target within reach,as highlighted in the recent COP28 UAE Declaration on Sustainable Agriculture,Resilient Food Systems and Climate Action.10 Alongside this,the COP28 Presidency and the UN High Level Climate Champions developed the Nature Positive for Climate Action-A Call to Action,11 focused on protecting nature as a critical lever for meeting the goals of the Paris Agreement.The emphasis on food and land use systems at COP28 sends a clear signal that governments and non-state actors,including businesses,are increasingly focused on accelerating action to transform our food and land use systems.Importantly,companies within the food and agriculture sector have an outsized role in driving this transformation.As the world increases its focus on food and land use systems,there has been a similar increase in the development of relevant voluntary business frameworks.These frameworks aim to support food and agriculture companies to develop,deliver and report on science-based climate and nature strategies.While there are still some outstanding technical challenges that need resolution,these voluntary frameworks are increasingly important for business leaders and decision-makers in the sector.This report aims to support business leaders in the food and agriculture sector,including those working in sustainability,compliance,public affairs,risk,and strategy teams,by demystifying several of the most important climate and nature frameworks and explaining how they relate to each other.Critically,this report shows how emerging frameworks are increasingly influencing new regulation and concludes that businesses that are already working to deliver voluntary targets will find the introduction of new regulation less disruptive to their business operations.For those that are lagging,there is a risk not only of business disruption when regulations come into force,but also of penalties for non-compliance.Future Fit Food and Agriculture4Overview of key voluntary frameworksIn the last five years,there has been a significant increase in the number of voluntary frameworks that aim to support companies to develop ambitious sustainability strategies.The landscape of voluntary frameworks continues to evolve rapidly to align with the best available science,account for new sustainability priorities and provide sector-specific guidance where needed.To date,companies engagement with voluntary standards and frameworks has largely focused on two areas:i)setting targets and strategies for greenhouse gas(GHG)mitigation,and ii)building capacity for climate disclosures.i The leading voluntary frameworks focusing on climate mitigation for the food and agriculture sector are:i)the Task Force on Climate-related Financial Disclosures(TCFD);12 ii)the Science Based Targets initiatives(SBTi)Forest,Land and Agriculture(FLAG)Sector Guidance,published in 2022;13 and iii)the Greenhouse Gas(GHG)Protocol draft Land Sector and Removals Guidance,first published in 2022 and due for completion in 2024.14 The TCFDs disclosure recommendations have been incorporated into the International Sustainability Standards Boards(ISSB)standards IFRS S1 and IFRS S2(more information provided in Box 1).15 This marks the completion of the TCFDs work and the Task Force will be disbanded.16With the adoption of the Kunming-Montreal Global Biodiversity Framework(GBF)17 in 2022,there is now an additional focus on the need for nature protection and restoration targets,and the integration of nature into climate transition plans.ii Most importantly,the GBF commits governments to adopt policies that halt and reverse nature loss by 2030.iii 18 This goal is consistent with the Nature Positive goal,developed by the Nature Positive Initiative,19 which provides a global target for nature for all actors,including businesses,to achieve.20 Together,the forthcoming Science Based Targets Networks(SBTN)corporate targets and recommendations for nature,21 and guidance from the Taskforce on Nature-related Financial Disclosures(TNFD),22 will support companies to set,deliver and report against nature strategies and targets.iv If the SBTi and the TCFD support companies in reducing emissions and achieving net zerov,the SBTN and the TNFD will support companies to do the same for nature.Ultimately,companies will be expected to utilize all these frameworks jointly to set and disclose ambitious and holistic climate and nature strategies.i Climate disclosures tell investors,regulators and other stakeholders how a companys activities affect and are affected by climate change.This is performed on either a voluntary basis or mandatory basis,and takes the form of publicly available infor-mation that includes the companys GHG emissions footprint and its exposure to climate-related financial risks.ii In recognition that the goals of the Paris Agreement cannot be met without nature,the COP28 Presidency and the UNFCC Climate Champions Team developed Nature Positive for Climate Action A Call to Action with five key asks for non-Party stakeholders to help achieve Nature Positive as a global societal goal which they define as Halt and Reverse Nature Loss by 2030 on a 2020 base-line,and achieve full recovery by 2050.Put simply,Nature Positive is about ensuring more nature in the world in 2030 than in 2020 and continued recovery after 2030.The five key requests of the call to action are:1)put nature at the heart of climate transition plans;2)increase investments in nature-based solutions;3)set science-based targets for climate and nature;4)assess,manage and disclose climate and nature related risks,impacts and dependencies;5)address deforestation risk,without which net zero targets will be out of reach.(Source:https:/climatechampions.unfccc.int/system/nature-positive-for-climate-action/)iii In particular,Target 15 of the GBF will require all large businesses and financial institutions to assess and disclose their risks,impacts and dependencies on biodiversity.As governments will need to make clear in their National Biodiversity Strategy and Action Plans(NBSAPs)how they plan to deliver the targets of the GBF,this signals the need for businesses to step up their efforts to reduce their negative impacts as well as to restore and regenerate ecosystems to protect biodiversity.For more information,read Business for Natures recommendations to governments on how to implement Target 15.iv The Nature Strategy Handbook provides the key components of a credible nature strategy for business,as well as signposts to relevant frameworks and resources,including the SBTN and the TNFD.v Net zero emissions are achieved when anthropogenic emissions of greenhouse gases to the atmosphere are balanced by anthropo-genic removals over a specified period(Source:Intergovernmental Panel on Climate Change).The SBTi published in 2021 the worlds only science-based framework for corporate net-zero target setting.(Source:https:/sciencebasedtargets.org/net-zero)Future Fit Food and Agriculture5Eva Zabey,CEO,Business for Nature Coalition,said:In Target 15 of the Global Biodiversity Agreement,governments have committed to requiring all large companies and financial institutions to assess and disclose their biodiversity-related risks,impacts and dependencies by 2030.We now need businesses to step up and harness the voluntary frameworks available.This is an important step towards mandatory disclosure which is critical to level the playing field and drive informed business and investment decisions in support of sustainable practices.By developing a credible corporate nature strategy,approved at the most senior level,a business is more likely to deliver concrete actions to contribute towards halting and reversing biodiversity and nature loss by 2030,and to meet increasingly stringent regulatory requirements on nature.Future Fit Food and Agriculture6Figure 1 provides an overview of some of the key voluntary frameworks that companies can use to establish baselines,set targets and make disclosures for both climate and nature strategies.Further details about voluntary frameworks are outlined in Boxes 1 and 2 at the end of this section.vi Figure 1:Overview of key voluntary frameworks that companies can use to set and deliver science-based climate and nature strategiesviivi Boxes 1 and 2 in this report provide an overview of the GHG Protocol,the SBTi FLAG Guidance,the TCFD,the TPT,the ISSB,the SBTN and the TNFD.More information about CDP and the Global Reporting Initiative can be found on their websites and in this footnote.While the IFRSs ISSB develops standards for sustainability-related disclosures to investors,the Global Reporting Initiative(GRI)de-velops standards for companies to publicly disclose sustainability-related information to a wider range of stakeholders(learn more in this Memorandum of Understanding between the IFRS and the GRI).CDP provides a publicly accessible platform for companies,cities,states,regions and public authorities to disclose their environmen-tal impact on climate,water and forests.vii Figure 1 is based on the High-level Business Actions on Nature ACT-D(Assess,Commit,Transform and Disclose)framework and extends it to climate.The ACT-D framework was developed in a collaboration by the Capitals Coalition,Business for Nature,WBCSD,the TNFD,the SBTN,the World Economic Forum and WWF and supported by many other key organizations.For a more comprehensive set of guidance and tools on Nature,refer to the Nature Strategy Handbook.The handbook is a prac-tical guide to help businesses develop a credible nature strategy and meet the requirements of relevant frameworks,guidance and regulations in the space.For further resources on the Transform component of the ACT-D framework for food and agriculture companies,refer to WBCSDs Roadmap to Nature Positive:Foundations for the Agri-Food System(Row Crop Commodities)and Business for Natures Agri-Food Overview.COMPANIESSHOULD.Assess and measure impacts and dependencies on climate and nature,including establishment of a baseline for scope 1,2 and 3 emissionsSet transparent,time-bound,science-based targets and take actions that simultaneously address emission reductions and removals alongside nature goalsPublicly disclose risks,impacts,dependencies,and other relevant climate-and nature-related informationEXAMPLES OF VOLUNTARY FRAMEWORKSAVAILABLE FOR COMPANIES(NON-EXHAUSTIVE)Assess&Disclose123Greenhouse Gas(GHG)ProtocolGHG accounting standards to inform baseline metricsLand Sector and Removals GuidanceCommit and TransformSBTI SECTORAL GUIDANCESome of these are still under developmentScience BasedTarget Initiative(SBTi)Focuses on science-based climate targetsFLAGChemicalsTransportBuildings.and moreScience BasedTargetsNetwork(SBTN)Focuses on science-based nature targetsOceanLandBiodiversityFreshwaterScience BasedTargetsNetwork(SBTN)Technical GuidanceStep 1:AssessStep 2:PrioritizeTaskforce on Nature-relatedFinancialDisclosures(TNFD)LEAP ApproachNATURECLIMATETaskforce onNature-relatedFinancialDisclosures(TNFD)Task Force on Climate-relatedFinancial Disclosures(TCFD)International Sustainability StandardsBoard(ISSB)GlobalReporting Initiative(GRI)CDPClimateForestsWaterTransitionPlanTaskforce(TPT)supports companies to meet TCFD and ISSB disclosure recommendationsISSB will take over from TCFD in 2024Task Forceon Climate-relatedFinancial Disclosures(TCFD)ISSB will take over fromTCFD in 2024Some of these are still under developmentFuture Fit Food and Agriculture7Voluntary standards and frameworks have played an important role in raising corporate ambition levels,and the number of companies signing up to these has increased rapidly.More than 410 companies in the Agriculture,Forestry and Other Land Use(AFOLU)sectorviii have set,or committed to set,approved emissions reduction targets with the SBTi.23 Of these,only a small handful have updated their targets in line with the Forest,Land and Agriculture(FLAG)Guidance published in 2022 and the remaining companies will have to follow suit to retain the SBTis validation.ix The publication of the GHG Protocol Land Sector and Removals Guidance(in 2024)may have some impact on companies SBTi target setting and they will be given time after publication to adapt their targets as needed.x Despite this,many food and agriculture companies are still not making enough progress on the ground and with the speed required.24 Emissions from agricultural production need to reduce by approximately 30%by 2030 to align with the Paris Agreement.25 Yet,food systems emissions are projected to increase by 2030 in the absence of accelerated action.26 Food companies that are not directly involved in growing,harvesting or rearing food still share the responsibility for reducing emissions from agricultural production and land use change because these sit within their Scope 3 GHG inventoryxi and account for a significant proportion of their total emissions.However,according to the World Benchmarking Alliance,of the 350 most influential food and agriculture companies,165 are yet to disclose any Scope 3 commitmentsxii,despite the publication of the SBTi FLAG Guidance in September 2022.27It is important to acknowledge that there are several reasons why it can be hard for food and agriculture companies to tackle Scope 3 emissions.Three of the most important factors are:Supply chain complexity and data monitoring limitations:Food production can involve long and complex value chains and Scope 3 emissions often occur beyond a companys direct control.This complexity means it can be challenging and expensive to achieve full traceability across the value chain.This is exacerbated by data limitations,particularly given the lack of primary data available at farm and landscape level as well as high monitoring costs.28Cost implications:Implementing climate and nature solutions to reduce Scope 3 emissions frequently requires upfront investment to scale solutions and develop new markets.In some instances,it leads to increased Operating Expense(OpEx)costs.See the second report from the Future Fit Food and Agriculture series,The financial implications of mitigating agriculture and land use change emissions for businesses,for analysis of costs and benefits to the sector.viii As of January 2024 and out of a total of over 7,000 companies across all sectors that have set,or committed to set,approved emissions reduction targets with the SBTi.(Source:https:/sciencebasedtargets.org/companies-taking-action)ix The 12 companies are:Charoen Pokphand Foods Public Company Limited,Danone,Dominos Pizza Enterprises(Australia entity),Dr.Martens plc,Heineken N.V.,John Lewis Partnership,Mars Inc.,Philip Morris International,Remy Cointreau,Sodexo S.A.(global entity),Sodexo Limited(UK entity),Tesco.x Companies with existing,validated SBTi targets and who meet the requirements to set FLAG targets must add a FLAG target within six months after the release of the final version of the GHG Protocol Land Sector and Removals Guidance(Source:https:/sciencebasedtargets.org/resources/files/SBTiFLAGGuidance.pdf)xi Scope 1 emissions are direct emissions from owned or controlled sources.Scope 2 emissions are indirect emissions from the generation of purchased energy.Scope 3 emissions are all indirect emissions(not included in Scope 2)that occur in the value chain of the reporting company,including both upstream and downstream emissions.Examples of Scope 3 emissions include the emissions of a companys suppliers or those released when their product is used.(Source:Greenhouse Gas Protocol.)xii Data drawn from the 2023 Food and Agriculture Benchmark of the World Benchmarking Alliance.Future Fit Food and Agriculture8Outstanding technical questions:Despite several voluntary frameworks providing more clarity on many technical issues,some technical questions remain which require further examination and consensus.For example,two critical issues that need resolution to enable consistent accounting for Scope 3 emissions reduction and carbon removals,within and beyond a companys value chain are:i)the need for consensus on how companies should monitor the permanence of carbon removalsxiii and ii)the standardization of accounting systems used for in-value-chain emissions reductions and removals.xiv However,the reality is that consumers expect,and increasingly legislators demand,that companies set ambitious climate and nature targets that are concretely backed up with action.In addition,businesses are increasingly confronting high costs of inaction as a result of yield loss and reduced supply chain resilience in the face of rapid climate change such as more frequent and extreme weather events.29 Therefore,whilst some outstanding technical questions remain,companies should utilize existing and emerging voluntary frameworks to set climate and nature targets and accelerate the implementation of mitigation solutions where possible.Fortunately,many technical questions are expected to be answered via finalization of the GHG Protocol Land Sector and Removals Guidance in 2024.In the meantime,FLAG sector companies can already make Scope 3 emissions reduction commitments using the published SBTi FLAG Guidance and draft GHG Protocol Guidance.xiii When accounting for carbon removals,there is a risk that stored carbon will be(re)emitted into the atmosphere,referred to as the risk of non-permanence.Sequestered carbon especially on working lands can be re-emitted into the atmosphere,either via anthropogenic actions(e.g.deforestation,tillage)or natural events(e.g.storms,fires).Monitoring the permanence of carbon removals is difficult and expensive for food and agriculture companies to put into practice.(Source:BeZero.(2023,September 21).Non-Permanence.BeZero Carbon.https:/ Voluntary frameworks still need to agree on key considerations,including whether carbon credits generated in areas adjacent to a companys sourcing area can be accounted for in the companys science-based targets,or whether they should be limited to Beyond Value Chain Mitigation(Beyond value chain mitigation BVCM refers to mitigation action or investments that sit outside of a companys value chain.Please find more information in Box 1).The GHG Protocol draft guidance on Land Sector and Removals,dated September 2022,defines insets as activities taking place only within a companys value chain that must be certified as a carbon credit(Source:https:/www.wbcsd.org/contentwbc/download/14797/210459/1).In contrast,the Interna-tional Platform for Insetting includes activities around a companys value chain within insets and does not require carbon credit certification(Source:International Platform for Insetting,https:/ Holdorf,Executive Vice President,Pathways,WBCSD(World Business Council for Sustainable Development),said:Food system transformation is a central solution to climate change.Business accountability and transparency is key for delivering the needed transitions and building trust in performance.The emerging climate and nature business frameworks and standards are increasingly influencing new policy which will help level the playing field for business performance.Aligning business strategy and disclosure with these frameworks enables food and agriculture companies to make better decisions by integrating climate and nature-related risks and opportunities in product and business model innovation and delivery.Critically,this will also align financial markets with scaling the solutions that work,enabling capital to be deployed to companies and solutions that drive much-needed climate action in the sector.Future Fit Food and Agriculture9Box 1:Overview of key frameworks for climate strategies The Greenhouse Gas Protocol(GHG Protocol)is fundamental to any carbon accounting system and is widely used by companies.xv The GHG Protocol Land Sector and Removals Guidance,which is specifically for the AFOLU sector,was released in draft form in September 2022.This Guidance is expected to be finalized in 2024 after undergoing extensive consultation.Accounting for land-based GHG emissions reductions and carbon removals in corporate value chains remains challenging for several reasons.First,complex agricultural value chains make it difficult to achieve traceability across the full value chain.Second,the lack of data on GHG emissions and removals by farm or supplier often prevents a purchasing company from credibly claiming that a given product has lower net emissions than the industry average.Third,the permanence of carbon sequestration varies,and uncertainties surrounding the permanence and appropriate monitoring and risk management of soil and pasture carbon sequestration have been holding back the development of carbon accounting approaches for in-value-chain carbon removals.30Produced in response to these complexities,and at the request of businesses calling for more guidance,the GHG Protocol Land Sector and Removals Guidance will be a critical resource for food and agriculture companies for establishing an emissions baseline and accounting for land-based emissions and removals.Once finalized,the guidance will outline detailed methods for companies to account for and report on GHG emissions and removals associated with land-based products,land use change,carbon removals and storage,biogenic products,and other activities.The Science Based Targets initiatives(SBTis)Forest,Land and Agriculture(FLAG)Guidance provides the worlds first sectoral guidance to help companies in land-intensive sectors set science-based targets for land-based emissions reductions and removals in line with Paris Agreement Targets.Published in 2022,the SBTi FLAG Guidance has created clarity around standards for no-deforestation,xvi value chain emissions reduction and removal targets for the AFOLU sector.Importantly,the SBTi FLAG Guidance aligns with the GHG Protocol on measurement and accounting for emissions reductions and carbon removals.The SBTi FLAG Guidance may need to be updated when the GHG Protocol Land Sector and Removals Guidance is finalized.The SBTi will require companies to properly account for FLAG-related emissions and removals in compliance with the GHG Protocol Land Sector and Removals Guidance six months after its release.The SBTis approach on Net Zero and Beyond Value Chain Mitigation:In 2021,the SBTi released the Corporate Net-Zero Standard,which clarified how much in-value-chain abatement companies should deliver to align with a science-based 1.5C pathway.The SBTi recognizes that the FLAG sector as well as other sectors will have residual emissions which cannot feasibly be eliminated by 2050 and therefore these residuals must be neutralized through the permanent removal and storage of carbon from the atmosphere.The SBTi is undertaking research to determine eligible solutions,technologies,and associated guardrails to ensure permanence of neutralization,which will be included in future iterations of the Corporate Net-Zero Standard.This is expected to clarify whether land-based removals can be used to achieve neutralization and if so under what circumstances.xv As of 2016,92%of Fortune 500s companies that disclosed their carbon accounting through the Carbon Disclosure Project(CDP)either used the GHG Protocol directly or went through a programme based on the GHG Protocol to do so.(https:/ghgprotocol.org/about-us)xvi The SBTi FLAG Guidance requires companies to publicly commit to no-deforestation across their primary deforestation-linked commodities with a target date of no later than 31 December 2025(and cut-off date no later than 31 December 2020).(Source:https:/sciencebasedtargets.org/resources/files/SBTiFLAGGuidance.pdf)The cut-off date specifies the permissibility of deforestation or conversion based on the timing of events on the ground.A cut-off date for deforestation set in the future would continue to incentivize deforestation until that future date.Therefore,a cut-off date is often set retroactively to discourage further clearance of forests.(Accountability Framework Initiative-Operational Guidance on Cutoff Dates).Future Fit Food and Agriculture10Box 1 continued:Overview of key frameworks for climate strategies The SBTis Corporate Net-Zero Standard also defines the concept of beyond value chain mitigation(BVCM)and recommends that companies deliver additional emissions reductions and removals outside of their Scope 1,2 and 3 inventories to accelerate global progress towards net zero and to account for unabated emissions as they transition their business models over the coming decades.Companies can deliver BVCM through the purchase and retirement of carbon credits,in addition to other funding mechanisms.It is important to note that a company cannot count the mitigation from outside its value chain towards abatement targets under the SBTi Corporate Net-Zero Standard.The SBTis newly released report on BVCM provides further recommendations on how companies can design and implement high-impact and high-integrity BVCM strategies and articulates the business case for doing so.The Task Force on Climate-related Financial Disclosures(TCFD),established by the Financial Stability Board in 2015,developed a framework(first released in 2017)to help public companies and other organizations more effectively disclose climate-related risks and opportunities through their existing reporting processes.This includes but is not specific to the AFOLU sector.While the TCFD began as a voluntary set of recommendations,it is now the common framework used to inform existing and proposed national legislation on climate disclosure in the US,Canada,EU,Japan,New Zealand,Singapore,Switzerland,the UK and other countries(see Box 5).31 The TCFD will wind down in 2024 as its disclosure recommendations have been integrated into the International Sustainability Standards Board(ISSB).The International Sustainability Standards Board(ISSB),set up by the International Financial Reporting Standards Foundation(IFRS)and announced at COP26 in 2021,has four key objectives:i)to develop standards for a global baseline of sustainability disclosures;ii)to meet the information needs of investors;iii)to enable companies to provide comprehensive sustainability information to global capital markets;and iv)to facilitate interoperability with disclosures that are jurisdiction-specific and/or aimed at broader stakeholder groups.32 The TCFD disclosure recommendations are already fully incorporated into the ISSBs International Financial Reporting Standards the IFRS S1xvii and the IFRS S2xviii-and,in 2024,the ISSB will take over the responsibility for monitoring progress on companies climate-related disclosures from the TCFD,marking the end of the TCFD as an entity.33In 2024,the ISSB is expected to announce its two-year work plan,clarifying how it will enhance its standards to include guidance on nature and social aspects of disclosures.34 On nature,this would potentially build on the TNFD recommendations(see Box 2).35The Transition Plan Taskforce(TPT)is an initiative that was launched by the UK Government in April 2022 with a two-year mandate post-COP26 to develop the gold standard for private sector net-zero transition plans.In October 2023,the TPT released its final disclosure framework,as well as specific sector guidance for the Food&Beverage sector.The TPT Framework aims to complement the ISSBs requirement for companies to disclose their climate-related transition plans(aligned to the TCFD),by providing a tool for companies to develop and report their net-zero transition plans.36xvii The IFRS S1 is the International Financial Reporting Standards S1 General Requirements for Disclosure of Sustainability-related Financial Informationxviii The IFRS S2 is International Financial Reporting Standards S2 Climate-related DisclosuresFuture Fit Food and Agriculture11Box 2:Overview of key frameworks for nature strategies The Science Based Targets Network(SBTN)helps companies assess their impacts across the environment,including climate,and then set targets to protect and restore nature across biodiversity,land,freshwater and ocean.This comprehensive approach to address nature and climate impacts together encourages companies to implement more holistic solutions over singular“silver bullet”ones that might maximize the outcome of one environmental indicator over another.The current draft of Land targets provide a methodology for the food sector to achieve nature goals in land systems.They build on and complement SBTis FLAG guidance,incentivizing corporate action beyond GHG emissions reductions to address the overall needs of the environment.SBTNs Land targets include guidance for companies to set targets to halt conversion of natural ecosystems,reduce their agricultural land footprint and improve the ecological and social conditions of landscapes,including agricultural lands,by engaging with other stakeholders.A beta version of the Land targets are currently available and were piloted by a cohort of companies in 2023-24.A version 1.0 will be published in mid-2024 informed by the pilot learnings.The SBTN has also released Freshwater targets(Version 1)and the first Ocean targets will be available for companies in 2025.By setting these targets companies are addressing the dominant drivers of biodiversity loss.This guidance is part of the SBTNs Step 3-Measure,Set and Disclose.Before companies set targets,they must first assess and prioritize their environmental impacts:Step 1 Assess:companies determine which environmental impacts,including climate,need to be addressed with targets,and which parts of their business they should deal with first.Regardless of sector,geographic location,or level of sustainability experience,at the end of this step companies will have estimated their value chain-wide impacts and dependencies on nature,resulting in a list of potential issue areas and value chain locations for target setting.Step 2 Prioritize:companies determine which science-based targets to set,which locations and economic activities to include within their target boundaries,and where to act first to effectively mitigate the most significant negative impacts on nature and increase the potential for positive impacts.The Taskforce on Nature-related Financial Disclosures(TNFD)is a risk management and disclosure framework for organizations to report and act on evolving nature-related risks.The framework,released in September 2023,aims to support businesses to increase their understanding of their dependencies and impacts on nature.It encourages companies to integrate associated financial risks and opportunities into their corporate strategies.The TNFD makes 14 disclosure recommendations which are closely aligned to the TCFD and organized across the same four categories:i)governance;ii)strategy;iii)risk and impact management;and iv)metrics and targets.Similar to the SBTN steps 1 Assess and step 2 Prioritize,the TNFD developed the LEAP approach-Locate,Evaluate,Assess and Prepare-which helps companies to identify,assess and disclose nature-related issues in their value chains.While the TCFD is being absorbed into the ISSB,the TNFD remains an independent organization.However,the ISSB will look into the TNFD recommendations where it relates to meeting the information needs of investors in its future work.37 With the TNFD framework now available,320 companies and financial institutions have joined the inaugural cohort of the TNFD Adopters,with 185 of them intending to publish TNFD-aligned disclosures for their financial year 2024 or earlier,and 135 for their financial year 2025.38Future Fit Food and Agriculture12Given the lack of sufficient on-the-ground progress from the food and agriculture sector,and the worsening crises posed by climate change and nature degradation,policymakers in several countries are using existing voluntary standards to inform the development of new regulation.European countries and the US are among those leading this trend,with more countries expected to follow suit.Much of this recent legislation focuses on mandatory due diligence and disclosure,such as the EU Directive on corporate sustainability due diligence(CSDD),39 the EU Corporate Sustainability Reporting Directive(CSRD),40 the EU Regulation on deforestation-free products(EUDR),41 and mandatory Scope 1 and Scope 2 reporting from the Securities and Exchange Commission(SEC)in the US.42 These regulations demand greater levels of supply chain transparency and public reporting on sustainability strategies from food and agriculture companies.They also carry significant near-term costs for non-compliance.Eija Hietavuo,VP Corporate Affairs,Tetra Pak,said:Overview of key mandatory frameworks and regulationsTransforming our complex food systems requires systems thinking and collaboration between stakeholders across the entire value chain.This includes a holistic approach from policymakers to ensure that regulations and incentives really enable and accelerate the transition and reflect the inextricable links between healthy people and a healthy planet.Future Fit Food and Agriculture13For example,the EUDR came into force in June 2023 and will be in fully implemented by the end of December 2024.It prohibits several commodities and their derivative products from being placed on the EU market unless they are proven to be free of deforestation and forest degradation and imposes a due diligence mandate,with sample-based monitoring on companies to ensure products are deforestation-free.43 Companies unable to comply with this regulation will face penalties,including fines of up to 4%of annual European revenues,making non-compliance potentially costly.As a hypothetical illustration,consider a large European coffee manufacturer generating 5 billion in annual revenues.Sourcing certified deforestation-free coffee will increase the cost of purchased coffee by between 1%and 6%,44 leading to an estimated increase in costs to the business of approximately 10-65 million per year.This compares favourably with the 200 million penaltyxix that they could face for non-compliance,even before considering other possible penalties such as product confiscation and public procurement bans.45Whilst many of the legislative examples highlighted in this report are still in draft form(see Boxes 3,4 and 5),the direction of travel is clear policymakers are increasingly willing to consider and introduce legislation that forces food and agriculture companies to set,deliver and report against more ambitious climate and nature strategies.This is particularly true in the case of climate risk disclosure.Several governments,including those of the EU and UK,are using the TCFD recommendations and the ISSB Standards as the basis for mandatory climate disclosures(see Box 5 for more information).46 Beyond this,it is likely that the development of legislation will pick up pace as key technical questions are resolved and science-based guidelines are developed for critical issues such as in-value-chain carbon removals and biodiversity target setting.There is therefore a strong case for forward-thinking companies to go beyond what is needed to comply with existing legislation.Companies that are already working to deliver against voluntary targets and disclosures will find the introduction of new climate and nature related regulations far less disruptive to their business operations as they will be ahead of the game when it comes to the implementation of climate and nature solutions.These companies will have longer timeframes to adapt their procurement policies,invest in innovation and traceability solutions,develop reporting capabilities,diversify portfolios and work with partners across their supply chain to accelerate change.For those that are lagging,there is a risk of business disruption when regulations come into force and an additional risk of incurring penalties for non-compliance.Boxes 3 and 4 provide a more detailed overview of existing and proposed legislation in Europe and the US.Box 5 outlines how the TCFD is informing new and proposed regulations.Finally,Box 6 highlights that agricultural methane reduction is a critical gap that is not addressed by current legislation.xix A fine of 4%of their annual 5 billion revenue.Future Fit Food and Agriculture14Box 3:Key examples of regulation in the EU and the UK (this list is not exhaustive)Across the globe,the EUs market is the furthest along in establishing climate and nature-based regulation.The EU is progressing a package of sustainability directives and regulations that will have implications for EU businesses and investors,including the following:Sustainable Finance Disclosure Regulation(SFDR):imposes mandatory Environmental,Social,and Governance(ESG)disclosure obligations for asset managers and other financial markets participants.Directive on Corporate Sustainability Due Diligence(CSDD):sets new rules to ensure that businesses address adverse impacts of their actions on human rights and the environment,both in their domestic and global value chains.The draft law was agreed in December 2023 and will force companies to integrate due diligence requirements into their operations and corporate governance to mitigate negative impacts across their value chains.Companies will also be required to ensure that their business models are aligned with the Paris Agreement.47 Companies that fail to comply will face fines of up to 5%of their net global revenue.48 Corporate Sustainability Reporting Directive(CSRD):requires in-scope companies to report on sustainability-related issues in line with the European Sustainability Reporting Standards(ESRS)which provides a detailed set of disclosure requirements,including requirements in accordance with the TCFDs recommended disclosures.While CSRD sets out the reporting requirements and obligations of companies,ESRS details the methodology and framework for companies to comply with CSRD.49 The CSDD and CSRD are meant to be applied in tandem by businesses.CSDD defines what obligations of due diligence companies need to meet while CSRD defines how companies are required to report on these obligations.50 Directive on Empowering Consumers for the Green Transition(ECGT):bans a number of unsubstantiated environmental claims including claims based on emissions offsetting schemes that a product has neutral,reduced or positive impact on the environment.51 The directive received final approval from the European Parliament and Council in January 2024.52 Member states have 24 months to implement the directive at the national level.Directive on Green Claims:proposed in March 2023,this directive aims to complement the ECGT by setting specific assessment criteria that companies would be required to meet in order to substantiate their environmental claims(e.g.required to adopt a full life-cycle perspective).53 If passed into law,non-compliant businesses would face costly and disruptive fines and other penalties,including the confiscation of product and temporary market exclusions.54Deforestation and land conversionMoreover,significant regulatory developments have emerged on deforestation-linked products entering EU and UK markets.The EU is leading on demand-side deforestation measures and due diligence legislation,having passed a comprehensive Regulation on deforestation-free products(EUDR)which came into force in June 2023.The regulation prohibits designated products that contain,have been fed with,or have been made using certain commodities(beef cattle,cocoa,coffee,palm oil,rubber,soya and wood)from being placed on the EU market if they were produced on land that was subject to deforestation or forest degradation after 2020.It also imposes a due diligence mandate with sample-based monitoring on companies to ensure products are deforestation-free.55 Future Fit Food and Agriculture15Box 3 continued:Key examples of regulation in the EU and the UK (this list is not exhaustive)As of 29 June 2023,operators and traders have 18 months to implement the new rules while micro and small enterprises will be given a longer adaptation period.xx 56 Companies unable to meet the requirements of this regulation will face penalties,including a fine of up to 4%of annual European revenues,making non-compliance potentially very costly.The UK Government announced at COP28(December 2023)a new legislation to ban the import of products which have been produced on land linked to illegal deforestation.57 Introduced through the UK Environment Act,the legislation covers fewer commodities than the EUDR(namely beef cattle,cocoa,leather,palm oil and soya).58 Also,unlike the EU,the UK defines legality based on the laws of the country of origin.The regulation is now undergoing secondary legislation to define its scope and reach.Businesses with over 50 million in global annual turnover that use over 500 tonnes of regulated commodities per year will be required to exercise due diligence in their supply chains and report on it annually.Companies failing to comply will face unlimited variable monetary penalties.59These regulatory measures will impact most food and agriculture companies operating in the EU and the UK.The main points of consideration for businesses addressing deforestation and conversion in value chains are:All corporates should adopt cut-off dates no later than 2020 for zero-deforestation,as voluntary standards and the EUDR are aligned on this.The EU legislation will force laggard corporates with no pre-existing experience of compliance and verification to comply,which will help to level the playing field and improve sector-wide traceability.The EU legislation creates a higher standard of zero-deforestation assurance and verification for companies to adopt,compared to the UKs no-illegal-deforestation approach.Corporates should develop one system with the dual aims of regulatory compliance and net-zero monitoring and measuring.60Note that there are currently no regulatory standards aimed at tackling conversion of other critical,carbon sequestering ecosystems such as peatlands,wetlands and savannahs.Valuing these natural landscapes appropriately by including them in nature protection and traceability policies is an urgent priority for agri-food companies to meet their climate commitments and to drive agri-food financing into nature-based solutions in these landscapes.The SBTNs draft guidance on land targets includes zero-conversion of critical high-carbon stock ecosystems as a key nature-related target that companies should adopt.Carbon pricing and adjustment mechanismsWith the progress and development of mandatory carbon disclosure,the advancement of carbon pricing is also on the rise.Globally,over 40 countries have an Emissions Trading Scheme(ETS)implemented or scheduled,including over 70 carbon pricing initiatives.61 A significant emerging scheme is the EUs Carbon Border Adjustment Mechanism(CBAM)which will complement the EU Emissions Trading Scheme(EU ETS).The CBAM will place a price on the carbon emitted during the production of certain carbon intensive goods entering the EU market,and in doing so intends to prevent carbon leakage towards countries that have less stringent climate and environmental policies than those of the EU.The regulation will first apply to fertilizers as well as iron,steel,and electricity generation,but could expand further in the future.Although the AFOLU sector is excluded from current ETS around the globe,this could change and discussions are emerging,in the EU,62 New Zealand,63 the UK64 and the US65 for instance,to price AFOLU emissions and include removals from agriculture and forestry in regulated carbon markets.xx Adaptation period timeline unspecified as of December 2023.Future Fit Food and Agriculture16Box 3 continued:Key examples of regulation in the EU and the UK (this list is not exhaustive)Carbon removalsFinally,the European Commission is the furthest advanced on the issue of carbon removals,proposing to create an EU carbon removal certification framework.The EU aims to scale up carbon removal activities including carbon farming and other nature-based solutions and fight greenwashing by empowering businesses to show their progress in this field.As a first step,the EU wants to establish a voluntary framework for certifying carbon removals developed in Europe.66 This presents an opportunity for improved measurement of environmental impact,leading to more and better finance for carbon sinks in European ecosystems.The framework includes criteria for identifying,monitoring,verifying and reporting on high-quality carbon removals in the EU.Although the model will create opportunities in Europe,there is a risk that this framework will undermine investment in more productive carbon sinks,such as tropical forests.Whilst the development of the European carbon removal framework is currently being debated,it remains important for food and agriculture companies to understand the potential for carbon removals throughout their supply chains,focusing action and investment in the regions where they can have the most impact.Companies should use the SBTi FLAG Guidance and the forthcoming GHG Protocol Land Sector and Removals Guidance in doing so.Box 4:Key examples of regulation in the US(this list is not exhaustive)In the US,the Securities and Exchange Commission(SEC)has passed legislation that will force companies to disclose in much greater detail to investors the climate-related risks to their business.The investor community increasingly recognizes the significant financial implications that climate,nature and related regulatory risks pose.As a result,with climate risks now commonly included in investment decision-making,there is growing demand from investors to see the immediate and long-term mitigation strategies of their investees.This legislation will require companies to disclose information about direct GHG emissions(Scope 1)and indirect emissions from energy(Scope 2).Despite the decision to exclude Scope 3 emissions,these rules will nonetheless require companies to take a more rigorous approach to their data collection and reporting processes across their supply chain.At the same time,the state of California has already passed a bill that will require large companies to publicly disclose Scope 1 and 2 emissions by 2026 and Scope 3 emissions by 2027.67Both the Inflation Reduction Act(IRA)and the US Farm Bill the renewal of which is under negotiation-aim to support farmers in scaling up the adoption of climate-smart,sustainable agricultural practices.Given that agricultural production represents a significant portion of most food and agriculture companies emissions and nature impacts,these bills provide important incentives for companies and farmers to act.For instance,the IRA will provide approximately an additional US$17 billion to the existing US$60 billion of funding for conservation programmes included within the US Farm Bill,to help farmers improve elements such as soil health,water quality,air quality and wildlife habitat.68A bipartisan group of US lawmakers announced in December 2023 the reintroduction of the Fostering Overseas Rule of Law and Environmentally Sound Trade(FOREST)Act(which was first introduced in 2021)to address illegal deforestation-linked commodities from entering the US market.It is modelled on the existing Lacey Act for illegal timber and wildlife.69 If passed,the FOREST Act would enable a broad multi-agency effort led by Customs and Border Patrol,in consultation with the US Trade Representative,to enforce compliance.Companies that fail to comply would face penalties established in existing law(i.e.Tariff Act),including fines and seizures of shipments,with severity depending on the level of negligence.At the state level,the Colorado legislature signed into law a similar procurement ban on purchases of some commodities linked to deforestation.70Future Fit Food and Agriculture17Box 5:How the Task Force on Climate-related Financial Disclosures(TCFD)and International Sustainability Standards Boards(ISSB)Disclosure Standards have been used to inform legislation The TCFD and the ISSBs IFRS Sustainability Disclosure Standards have been used to inform existing legislation on financial disclosures in many jurisdictions including Brazil,Canada,the EU,Japan,New Zealand,Singapore,Switzerland and the UK amongst others.71The TCFD sets out 11 disclosure recommendations,which are categorized around four thematic areas:Governance:the boards oversight of climate-related risks and opportunities,and senior managements role in assessing and managing climate-related risks and opportunities;Strategy:the actual and potential impacts of climate-related risks and opportunities on the organizations businesses,strategy and financial planning where such information is material;Risk management:how the organization identifies,assesses and manages climate-related risks;Metrics and targets:the metrics and targets(including GHG emissions across Scopes 1,2 and 3)used to assess and manage relevant climate-related risks and opportunities where such information is material.72Many countries have now adopted official reporting requirements that are aligned with the TCFDs 11 disclosure recommendations(and the ISSB Disclosure Standards)making it mandatory for large entities such as banks,insurers,publicly listed companies,and large private companies to disclose their climate-related financial risks,and imposing penalties on those that fail to do so.Some countries even go beyond the TCFDs 11 recommended disclosures.For example,the EUs CSRD extends the reporting requirements beyond those of the TCFD by i)broadening the scope of sustainability disclosures to include nature and social impacts,and ii)by adopting a double materiality approach,requiring corporations not only to disclose financial risks and opportunities related to climate,but also the businesses impact on the environment and society.73More countries,including China,have committed to,or are already proposing climate-related disclosure legislation for review in the near future.74In 2024,the TCFD will cease to exist as an entity as it will be taken over by the ISSB which already incorporates the TCFDs 11 recommended disclosures into its inaugural sustainability disclosure standards IFRS S1-General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures(see Box 1).Future Fit Food and Agriculture18Box 6:Methane is a gap in existing policy discussions but momentum is building Methane emissions account for around 20%of total GHG emissions,75 and the agriculture sector is responsible for over 40%of this.xxi 76 Methane emissions are responsible for 30%of the global temperature rise to date.77 Due to its short-term but potent warming potential,reducing methane emissions is critical in the near term to prevent breaching the 1.5C threshold and to avoid climate tipping points.78 However,there is currently a notable lack of proposed legislation to address methane emissions reductions in the AFOLU sector.At COP26,under co-leadership by the EU and the US,efforts were formalized in the Global Methane Pledge(GMP)aiming to reduce methane emissions by 30%by 2030.Actions in the pledge are voluntary and aim to contribute to a collective effort to reduce global methane emissions,which could avoid over 0.2C warming by 2050.79 The pledge aims to catalyze global action and strengthen support for existing initiatives that are advancing technical innovation and policy agendas.80 COP28 renewed momentum for the pledge,bringing the total number of signatory countries to 155,representing over 50%of global methane emissions.81 However,most existing national policies,regulations and commitments focus mainly on fossil energy-related methane emissions.82 Only a handful of governments like those of New Zealand83 and the EU84 are considering setting targets and policies specific to agricultural methane emissions reductions.In other cases,governments are teaming up with companies and philanthropic organizations to create incentives and funding for the development and adoption of innovations to reduce emissions on farms.xxii 85 Although it is not a signatory to the GMP,China the largest producer of methane emissions in the world86 reaffirmed in November 2023 its joint commitment with the US to take action on methane emissions reduction.87 Around the same time,China released its Methane Emission Control Action Plan which covers the energy,agriculture and waste sectors.88 While it does not set explicit reduction targets,it calls for control of enteric fermentation from livestock and methane emissions from rice cultivation.89 Despite limited legislation,forward thinking food and agriculture companies should nevertheless set targets for methane emissions reduction of 30%by 2030,in line with the GMP and the latest SBTi FLAG Guidance,invest in technologies and innovations to support farmers to adopt methane-reducing measures,and advocate for governments to mandate methane emissions reductions across the sector.xxi This excludes methane emissions from the decomposition of organic waste.xxii For instance,the state of California in the US is investing over US$370 million to reduce methane emissions from its livestock and dairy sector.(Source:https:/www.gov.ca.gov/2022/06/08/at-summit-of-the-americas-governor-newsom-outlines-califor-nias-world-leading-efforts-to-cut-methane-pollution/)Furthermore,multiple public,private,and philanthropic partners including the Governments of Ireland,New Zealand and the United States,Danone,the Bezos Earth Fund,and the Bill&Melinda Gates Foundation announced at COP28 a US$200 million agricultural methane mitigation funding initiative the Enteric Fermentation Research&Development Accelerator launched by the Global Methane Hub.(Source:https:/www.globalmethanehub.org/2023/12/02/enteric-fermentation-research-develop-ment-accelerator-a-200m-agricultural-methane-mitigation-funding-initiative/)In addition,the Dairy Methane Action Alliance was announced at COP28 by the Environmental Defense Fund and joined by Bel Group,Danone,General Mills,Kraft Heinz,Lactalis USA,and Nestl.The signatory companies commit to develop and publish an action plan by the end of 2024 to reduce methane emissions within their dairy value chains.Companies also committed to account for and publicly disclose these emissions annually.(Source:https:/www.edf.org/article/global-food-companies-join-edf-for-groundbreaking-step-on-dairy-methane)Future Fit Food and Agriculture19In preparation for expected and future legislation,food and agriculture companies should utilize existing and emerging voluntary standards to develop and deliver climate and nature strategies.To be credible,these strategies must:assess and measure Scope 1,2 and 3 emissions and nature-related impacts and dependencies;leverage existing voluntary frameworks to set science-based climate and nature targets,which also support a just transition for the sector(and include critical intermediate milestones);90 pull on all levers available to a company,including its product and portfolio mix,sourcing agreements,advertising spend,research and development pipeline and the development of new partnerships;be fully costed;be tracked and publicly reported;and include policy advocacy on key issues that need support from governments.In some cases,the development of climate and nature strategies will require key gaps in existing voluntary standards to be resolved in order to support companies taking decisive action at scale.Leaders across the AFOLU sector are already working collaboratively to resolve many of these critical questions and food and agriculture businesses should,where appropriate,support the swift resolution of outstanding technical questions by sharing data and expertise and collaborating on testing opportunities.As the landscape of voluntary frameworks evolves and companies work to develop credible sustainability strategies,there is an increasing focus on the policy reform needed to accelerate implementation of climate and nature solutions.The food and agriculture sector needs support from policymakers to reward fast-moving and ambitious companies and level the playing field by penalizing laggard companies for inaction and free-riding.It is therefore in the interests of forward-thinking companies to engage with policymakers and other value chain actors to support and shape development of ambitious and long-term legislative agendas on key issues across the sector.This will provide companies with the regulatory clarity needed to make ambitious,longer-term,strategic decisions more confidently and work with diverse stakeholders to implement solutions at scale.More immediately,there are several requests that food and agriculture businesses can make of governments and clear opportunities for public-private collaboration.First,alongside their own investment in data and What food and agriculture companies should doFuture Fit Food and Agriculture20monitoring,businesses should advocate for policymakers to invest together with them in better data collection and monitoring capabilities.xxiii Second,they should encourage the integration of data and insights across ministries(e.g.health,agriculture and trade ministries)to avoid isolated decision making and enable better,more holistic policy decisions.91 Third,businesses should ask policymakers to provide better direct incentives that reward leading companies and create demand signals to support change,92 using mechanisms like public procurement incentives.xxiv xxv 93Beyond the immediate term,there are critical sector-wide issues that require deeper engagement and collaboration across the food and agriculture sector to develop a clear vision and unified set of demands for policymakers.Some of these areas include:i)introducing regulatory mechanisms for ending land use change;94 ii)reforming agricultural subsidies to de-risk and incentivize the transition to productive and regenerative agricultural practices;95 and iii)harmonizing standards and regulations across jurisdictions to lower the complexity and costs associated with legal compliance in different countries.Progress on these sector-wide issues will require long-term and concerted collaboration.xxiii An example of this happening already is the USDA investment into improved GHG monitoring,reporting and verification for agri-culture and forestry in the USA.(Source:https:/www.nrcs.usda.gov/sites/default/files/2023-07/nrcs-ira-mmrv-factsheet-23.pdf)xxiv For example,the US FOREST Act(see Box 5)proposes to reward companies which have robust deforestation monitoring systems through public procurement processes(Source:US FOREST Act https:/www.schatz.senate.gov/imo/media/doc/forest_act_bill_text.pdf)xxv For example,Denmark has included policy targeted at increasing sustainable food consumption through public procurement for a number of decades now,leading to uptake both within public institutions governed by these policies and in broader society.More recently,in October 2023 the government launched the Danish Action Plan for Plant-based Foods which includes goals to reduce the GHG emissions of public procurement as well as increased procurement requirement for organic and plant-based foods.Rob Cameron,Global Head of ESG Engagement,Nestl,said:Luke Pritchard,Deputy Director,Nature Based Solutions,We Mean Business Coalition,said:The frameworks are now in place for companies to establish ambitious targets to decarbonize our food system,conserve and restore nature,and support the communities and farmers in the landscapes where they source food.As this new research shows,companies that move now to transition to more sustainable production will become more competitive,bolster their long-term financial outlook,and be better prepared to comply with emerging legislation.But companies cant do this alone to stay within our planetary boundaries they must also become staunch advocates of reforming the hundreds of billions of dollars in annual public subsidies that drive destructive agricultural practices.The harmonization of voluntary and regulatory frameworks is essential to accelerating action on climate and nature and enhancing the resilience of food systems.This report is a welcome and vital contribution to this effort.Future Fit Food and Agriculture21SummaryAs existing and emerging voluntary frameworks are published and strengthened in 2024 and 2025,food and agriculture companies have a window of opportunity to get ahead in preparing for forthcoming climate and nature legislation.Beyond this,the food and agriculture sector has a critical role to play in achieving the 1.5C target set by the Paris Agreement and the nature targets established by the Kunming-Montreal Global Bio-diversity Framework.Therefore,ambitious companies with global value chains can and should play a role in supporting the harmonization of national legislation with existing voluntary frameworks.This can be done by working with governments and supporting them to take a long-term approach to developing legislative road-maps.These roadmaps will provide companies with the clarity they need to act confidently at scale.There is no time to lose delays today will lead to additional,more disruptive costs tomorrow.Future Fit Food and Agriculture221 Food and Agriculture Organization of the United Nations(FAO).(2023).The State of Food and Agriculture 2023 Revealing the true cost of food to transform agrifood systems.FAO,Rome,Italy.https:/doi.org/10.4060/cc7724en Ruggeri 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climate leadership.We Mean Business Coalition,New York,USA.https:/www.wemeanbusinesscoalition.org/wp-content/uploads/2022/10/WM-BC-Climate-Transition-Action-Plans.pdf 91 Delreux,T.,&Earsom,J.(2023).Missed opportunities:the impact of internal compartmentalisation on EU diplomacy across the international regime complex on climate change.Journal of European Public Policy.https:/doi.org/10.1080/13501763.2023.221784992 Systemiq.(2023).The Breakthrough effect:How to trigger a cascade of tipping points to accelerate the net zero transition.Systemiq,Lon-don,UK.https:/www.systemiq.earth/wp-content/uploads/2023/01/The-Breakthrough-Effect.pdf 93 FAO,Alliance of Bioversity International and CIAT and Editora da UFRGS.(2021).Public food procurement for sustainable food Future Fit Food and Agriculture28systems and healthy diets-Volume 2.FAO,Bioversity International,Rome,Italy.https:/doi.org/10.4060/cb7969en 94 FOLU.(2021).Accelerating the 10 Critical Transitions:Positive Tipping Points for Food and Land Use Systems Transformation.https:/www.foodandlandusecoalition.org/accelerating-the-10-critical-transitions-positive-tipping-points-for-food-and-land-use-systems-transformation/Flynn,D.,OConnor,S.,&Ross,M.(2019).Prosperous Forests.FOLU,London,UK.https:/www.foodandlandusecoalition.org/knowledge-hub/prosperous-forests/95 Ewer,T.,Smith,T.,Cook,S.,Jones,S.,DeClerck,F.&Ding,H.(2023).Aligning regenerative agricultural practices with outcomes to deliver for people,nature and climate.FOLU,London,UK.https:/www.foodandlandusecoalition.org/knowledge-hub/re-genag-people-nature-climate Ding H.,Markandya,A.,Feltran-Barbieri,R.,Calmon,M.,Cervera,M.,Duraisami,M.,Singh,R.,Warman,J.,&Anderson,W.(2021).Repurposing Agricultural Subsidies to Restore Degraded Farmland and Grow Rural Prosperity.World Resources Institute,Washington DC,USA.https:/www.wri.org/research/farm-restoration-subsidiesFuture Fit Food and Agriculture29March 2024Future Fit Food and Agriculture:Developments in voluntary frameworksand 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