COFCO International has reached traceability and completed social and environmental screening of all its directly sourced soy from current suppliers in the Matopiba region, by December 2021, an important stepping-stone towards establishing a sustainable soy supply chain in the environmentally sensitive region. In 2020, COFCO International teamed up with the International Finance Corporation (IFC), a member of the Good Growth Partnership, to support a more traceable and sustainable soy supply chain in Matopiba, a region located within Brazil’s biodiversity hotspot – the Cerrado Biome. The project is part of the Good Growth Partnership, a wider initiative, funded by the Global Environment Facility (GEF) and led by the United Nations Development Programme (UNDP) convening a wide range of stakeholders and initiatives throughout soy, beef and palm oil supply chains to reduce deforestation and enable sustainable development. The project’s main goal was to establish traceability, meaning the ability to track the soy back to the farm where it originated and to assess these farms against several environmental and social criteria. The initial objective was to cover 85 percent of the company’s directly sourced soy by the end of 2021, but it was surpassed to achieve visibility over all of COFCO International’s direct supplies from current suppliers in the region. The traceability and assessment components of the project involved the analysis of farm contours, satellite imagery and other geographical information against public available information and other sustainability aspects. The analysis considered farm compliance against the following:
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