WELLINGTON, Nov. 9 (Xinhua) -- New Zealand dairy giant Fonterra announced on Thursday an on-farm emissions reduction target, and released a climate roadmap and voluntary climate-related disclosure report, as part of the step towards achieving its climate ambition.
The co-operative is targeting a 30 percent intensity reduction in on-farm emissions by 2030, which will see it further reduce the emissions profile of its products.
About 86 percent of Fonterra's emissions come from on-farm, and the new target is seeking to reduce emissions intensity by ton of FPCM (fat and protein corrected milk) collected by Fonterra, according to the co-operative's statement.
New Zealand farmers are some of the most emissions-efficient suppliers of dairy at scale, but work needs to continue to maintain this position, said Fonterra CEO Miles Hurrell while making the announcement at the co-operative's annual meeting.
"As a dairy partner to many of the world's leading food companies, we're responding to growing sustainability ambitions from our customers and financial institutions, along with increasing market access, legal and reporting obligations," Hurrell said.
This new target will be achieved through reduction via farming best practice such as feed quality and improving herd performance, novel technologies to find a solution to methane, carbon removals from vegetation, and historical land-use change conversions to dairy, the statement said.
Fonterra Chairman Peter McBride said Fonterra can make solid progress towards the target by working together and sharing information farmer-to-farmer.
Fonterra also launched its climate roadmap, which outlines the actions it will take towards its 2030 targets and ambition to be net-zero by 2050.
In addition, the co-operative has voluntarily released its first climate-related disclosure report, which identifies risks and opportunities related to climate and helps it plan for the future, Hurrell said.
New Zealand has passed a law introducing mandatory climate-related risk reporting, with it becoming mandatory next year for around 200 New Zealand companies, including Fonterra. ■
