Big Emissions_ Empty Promises (Changing Markets Foundation)

This report does not contain an executive summary. Here is a summary of its key points and findings.

This report, "Big Emissions, Empty Promises," by the Changing Markets Foundation, investigates the climate impact of 22 of the world's largest meat and dairy companies, exposing their significant contribution to greenhouse gas emissions and their use of greenwashing to evade meaningful climate action.

Key Findings:

• Massive & Underreported Emissions: The emissions from top meat and dairy corporations are comparable to those of major oil companies and entire nations.

  • The combined methane emissions from the five largest polluters (JBS, Minerva, Marfrig, Cargill, Dairy Farmers of America) surpass those of fossil fuel giants like ExxonMobil, Shell, and BP.
  • JBS's annual GHG emissions (287.9 MtCO2e) are greater than those of the United Arab Emirates, while Cargill's (244.55 MtCO2e) exceed those of the Philippines.
  • Corporate reporting is grossly inadequate. On average, 95% of the sector's emissions are Scope 3 (supply chain), yet many companies fail to report this data, obscuring their true impact.

• Weak and Misleading Climate Pledges: Corporate climate commitments are largely hollow and not aligned with limiting global warming to 1.5°C.

  • Of the 22 companies analysed, only 15 had a net-zero target, and very few of these were validated by the Science-Based Targets initiative (SBTi) as being 1.5°C-aligned.
  • JBS, the world's largest meat company, had its "net-zero" claims banned by a US advertising body for being unsubstantiated.

• Greenwashing Through "False Solutions": Companies promote ineffective solutions to distract from the need to reduce livestock production.

  • Techno-fixes: Companies promote feed additives and vaccines but invest very little. JBS spends just 6.2% of its marketing budget on these tech solutions, and Tyson's marketing spend is 11 times larger than its entire sustainability fund.
  • Regenerative Agriculture: This is often used as a marketing tool. The report notes that a complete shift to grass-fed beef in the U.S. would actually increase methane emissions by 43%.
  • The Biogas Illusion: Biogas is promoted as a green solution, but it primarily addresses manure (18% of cattle methane emissions) while ignoring the main source, enteric fermentation (82% from cow burps). Biogas incentives can also perversely encourage further industrial livestock expansion.

• Government Inaction and "Agricultural Exceptionalism": National policies fail to hold the sector accountable, allowing it to operate outside of meaningful climate regulation.

  • Despite nearly all host countries of the analysed companies being signatories to the Global Methane Pledge, none have specific, mandatory agricultural methane reduction targets.
  • Policies favour voluntary measures and subsidies for false solutions like biogas, rather than enforcing absolute emission cuts or reductions in livestock numbers.

• Recommendations for Change: The report concludes with clear calls to action.

  • For Companies: Set ambitious, science-based 1.5°C-aligned targets (including for methane), stop using offsets, disclose lobbying efforts, and critically, invest in a transition to alternative proteins.
  • For Governments: Implement robust national methane action plans that regulate Big Meat and Dairy, end "agricultural exceptionalism," support a shift to sustainable farming like agroecology, and enforce strict penalties for greenwashing.