FAIRR Initiative’s Post

Name: FAIRR Q1 Update
Uploaded: 2024-07-15T09:06:36.445Z
Channel: FAIRR Initiative

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What were FAIRR’s organisational milestones in the first quarter of 2024? From releasing progress reports on three of FAIRR’s collaborative investor engagements, to opening the Sustainable Aquaculture engagement for investor sign-on, FAIRR is proud to be working with its ever-growing investor network to actively identify and mitigate #ESG risks in the global food sector. Watch the video below to hear more about FAIRR’s activities from Sofía Condés, Emma Berntman, PhD, María Montosa, and Isobel Rosen 👇 Access the resources mentioned in the video: 🐟Sign-on to the Sustainable Aquaculture engagement: https://lnkd.in/eqUDBcWn ♻️Download the progress report on the Waste & Pollution engagement: https://lnkd.in/eVK-mShp 🦠Download the progress report on AMR: https://lnkd.in/ei5zXKas

Transcript

Hello everyone, and welcome to our quarterly update, a new video format that we've launched to keep you updated on our most important achievements from the last quarter. It's been an exciting start to the fiscal year and I'm thrilled to share some of our key initiatives and milestones with you. This quarter was highlighted by the release of comprehensive reports from three of FAIRR's collaborative investor engagements. Additionally, FAIRR's Sustainable Aquaculture engagement is currently open for investor sign-on, presenting a significant opportunity for you as an investor to help push for more sustainable practices within the aquaculture industry. We also invite investors to sign the public investor statement of the Investor Action on Antimicrobial Resistance initiative. Your support is crucial in addressing pressing issues in the global food sector, so we invite you to get involved and sign up for this impactful opportunity. And now, let's dive into the highlights of the first quarter and explore the impactful work we've accomplished together. Antimicrobial resistance, or AMR, has been declared one of the top ten global threats to human health. Driven by global overuse and misuse of antimicrobials in humans, animals, and agriculture, it has become a systemic risk akin to climate change and nature loss. FAIRR has facilitated two collaborative investor engagements, focused on key sectors of the animal protein value chain, animal pharmaceuticals and fast food companies, as these sectors are well positioned to support responsible antibiotic use practices at the farm level, in line with the guidelines of the World Health Organization. Findings indicate that 4 out of 7 animal pharmaceutical companies now disclose revenue generated by antibiotics for food producing animals, while 11 out of 12 fast food companies have a policy that to some extent restricts the use of medically important antibiotics for at least one animal protein type. However, gaps remain in corporate disclosures and practices. For example, no animal pharmaceutical company discloses the volume of antibiotics sold. And 3 out of 7 of these companies still appear to sell antibiotics for growth promotion. Additionally, only 30% of the fast food companies material proteins are covered by an antibiotic policy. To protect the future efficacy of antibiotics, One Health and long term value generation for all, investors and companies must continue to work together to increase the transparency and robustness of antibiotic policies and AMR stewardship practices in the animal protein value chain. Apart from being a major driver of biodiversity loss, pollution is also a material risk for animal protein producers. In the second phase of the engagement, we have seen how companies have made progress. Firstly, we see that most of the companies now include animal farms in the risk assessment to some extent. Secondly, all of the companies that we engage with have some actions in place to reduce these risks like, for example, composting manure or producing biogas. However, we have also identified two major gaps that companies still need to address. Firstly, companies have little visibility of the animal farms where they don't have a direct control, and therefore they don't know how these animal farms contribute to pollution and are exposed to pollution risks. Then secondly, companies don't necessarily link their targets for water pollution to those areas that they have identified as being as high or medium risk from a water quality perspective. Therefore, in the third phase of the engagement, investors will continue working with companies to ensure that they have robust risk assessments and strategies to reduce their exposure to pollution risks. The role of animal sourced foods in a healthy diet and the potential for plant based foods to substitute them are hot topics within the field of nutrition, with important implications for both human and planetary health. However, the lack of expert consensus and often inaccurate marketing of these products contributes to misinformation and misunderstanding, making it challenging for investors to navigate this topic and digest the science. To fill in this evidence gap, FAIRR is excited to announce the release of Protein and Nutrition, a research overview for investors developed in collaboration with researchers from Tufts University, which highlights the role of animal sourced foods in a healthy diet and explores the potential of plant based alternatives. By summarizing the scientific evidence, the research overview clarifies common assumptions about the nutrition and health effects of major sources of protein and identifies important trends, risks, and opportunities for investors with exposure to the protein supply chain. This quarter, we are delighted to welcome 7 new members to the FAIRR Investor Network. These new investor members have a global reach from Canada to China and include mainstream investment managers, impact funds and agri-focused investors. FAIRR's growing member network, representing over $70 trillion in AUM, showcases that the investment industry recognises the importance of a transition to a more sustainable food system. FAIRR investor members use our data, research, engagement opportunities and policy guidance differently according to their priorities and strategies. This quarter, we have published a case study with Legal and General Investment Management highlighting how FAIRR has added value to their macro stewardship activity with FAIRR's policy workstream on delivering the FAO Agricultural Roadmap to 2050. FAIRR has supported LGIM by elevating the investor voice in the policy arena to raise awareness of systemic risks in the food system and to help advance policy and regulations that tackle such risks. To find more details on how the FAIRR investor network utilizes membership, head over to the FAIRR website to read investor member case studies. As we look ahead to the next quarter, I'm pleased to share just some of our exciting plans and key initiatives on the horizon. We are set to release two pivotal reports. The first will be an update on phase one of our Protein Diversification engagement, providing valuable insights into its progress and future direction. The second report sets out the investment and environmental mitigation opportunities offered by climate and nature based solutions in the livestock sector. Additionally, we'll be participating in the autumn event season, which includes New York Climate Action Week, the UN High Level Meeting on Antimicrobial Resistance and the Biodiversity COP in Colombia. Also, we will be hosting a fireside event on the margins of PRI in Toronto. I look forward to meeting many of you at these events. Please keep an eye on our LinkedIn website and monthly newsletter to stay informed about the events the FAIRR team will be hosting and participating in. We look forward to connecting with you and continuing our impactful work together.

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FAIRR Initiative’s Post

FAIRR Q1 Update

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SAES for EcoeFISHent project - from fish waste to sustainable packaging

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