The coalition, formed by the World Economic Forum and leading agribusiness companies, aims to create market demand for low-carbon and sustainably produced products
JBS became a signatory of the First Movers Coalition for Food on Friday, December 1, during COP-28 in Dubai. Led by the World Economic Forum with the support of the Government of the United Arab Emirates and 19 other companies, the initiative aims to accelerate sustainable agricultural methods, technologies, and productions, driving the global development of low-carbon agricultural products. This will be achieved by creating a value chain, with coalition members aiming to acquire up to $20 billion worth of low-carbon products.
“Food systems are crucial to achieving the goals of the Paris Agreement—both limiting and adapting to global warming—while feeding a growing world population. The demand for sustainably produced agricultural commodities can support the transition to a low-carbon economy in agricultural and food value chains,” highlighted Jason Weller, JBS Global Chief Sustainability Officer.
Comprising leading agribusiness companies, value chain partners, farmer organizations, researchers, and governments, the First Movers Coalition for Food aims to enhance existing food systems. To drive sustainable agricultural and production methods and foster demand for low-carbon products, the newly launched initiative intends to create aggregated market demand for sustainably produced agricultural commodities by 2030.
According to the World Economic Forum, companies participating in the coalition represent a combined revenue of $2.1 trillion, with global operations. These are companies that recognize the need for more sustainable practices and innovation in food production systems. Starting in the second half of this month, the World Economic Forum, participating companies, and governments will work together to identify commitments and pathways to support and mobilize the ecosystem enabling this transformation. The coalition is expected to publish initial results of collaborative work in early the second half of 2024.
The First Movers Coalition for Food builds on the success of the First Movers Coalition for Industry, launched at COP26 in Glasgow, Scotland, by U.S. President Joe Biden and the World Economic Forum in 2021. The First Movers Coalition for Industry aggregates early market demand for innovative clean technologies in eight industrial sectors facing challenges in reducing greenhouse gas emissions: aviation, maritime transport, road transport, steel, aluminum, cement, and chemicals.