Forest-friendly sourcing from just seven companies could cut emissions close to the Czech Republic’
Just by implementing zero-deforestation and peat-free sourcing, seven agricultural trading giants could make a major contribution to reducing global greenhouse gas emissions.
Oxford, United Kingdom (3 November 2025) – An analysis published today by Trase shows that seven major companies that trade agricultural commodities have the potential to reduce global greenhouse gas emissions close to the Czech Republic's annual emissions.
JBS, Marfrig, Minerva, Musim Mas, Royal Golden Eagle, Sinar Mas and Wilmar have the highest exposure to greenhouse gas emissions from land-use change linked to soft commodity exports. According to the data, in 2022, the companies were exposed to more than half of all deforestation and peat-related emissions linked to exports of beef from Brazil, and palm oil and wood pulp from Indonesia.
“This analysis shows that a handful of actors can deliver climate benefits larger than entire countries,” said André Vasconcelos, Global Engagement Lead at Trase. “It is crucial that the private sector steps up their actions in this collective effort to mitigate climate change.”
The analysis has been developed by research and data experts from Trase, including Carina Mueller, Carbon Accounting Research Fellow at SEI. They examined five agricultural commodities with the greatest trade-linked impact – beef and soy, cocoa, palm oil and wood pulp – in three key producing countries: Brazil, Côte d’Ivoire and Indonesia, respectively. The goal was to calculate the volume of emissions from deforestation and peat degradation that these companies are exposed to via the global commodity trade.
The data was narrowed down to the three most exposed commodities: beef from Brazil, and palm oil and wood pulp from Indonesia. The seven companies together accounted for 58% of the total deforestation and peat degradation-related emissions linked to commodity exports in 2022.
“While soy deforestation emissions have decreased in recent years, this might change with the Amazon Soy Moratorium being under threat,” warned Vasconcelos. The Soy Moratorium, a voluntary commitment signed by over 25 companies, is a landmark zero-deforestation commitment that has significantly contributed to reducing direct deforestation for soy in the Brazilian Amazon.
The emissions exposure is primarily tied to the companies’ sourcing of these commodities produced on recently deforested land or drained peatland, both of which release vast quantities of greenhouse gases. Palm oil and wood pulp from Indonesia have the heaviest climate footprint, with accumulated 89.4 Mt CO₂-eq, or 74% of the exposure to land-use change emissions.
“Indonesia plays a central role in this picture – both as one of the largest commodity producers and as a country bearing the environmental cost,” said Timer Manurung, Chair at Auriga Nusantara. “These companies have the power and the responsibility to transform the industry. Implementing genuine zero-deforestation and peat-free supply chains would not only protect forests and peatlands but also strengthen Indonesia’s contribution to the global climate agenda.”
Climate change commitments need more transparency
In 2022, at COP26 in Glasgow, five of the seven companies committed to accelerate action on deforestation and align with global climate goals under the Agricultural Sector Roadmap to 1.5°C. Royal Golden Eagle and Minerva have not yet signed the roadmap.
According to Global Canopy’s latest Forest 500 assessment, all seven companies have made zero-deforestation or zero-conversion commitments, but not all have publicly committed to report on their progress.
“It is great to see their commitments and actions, but without public disclosure and transparent reporting, there’s no way to verify whether their pledges are truly being met,” points out Vasconcelos. “There is no route to net zero without tackling deforestation and peat degradation.”
In preparation for COP30, countries had to submit Nationally Determined Contributions (NDCs) with concrete plans and actions to reduce emissions and adapt to climate impacts. But as Brazil’s COP Presidency has made clear, those actions need to come from all actors through collective effort. In the case of emissions from land-use change, the private sector has a key role to play in achieving NDCs and lowering emissions globally.
Notes to Editors
For more information and to arrange an interview, contact Trase Communications Lead: g.souzaneuls@globalcanopy.org
About Trase
Trase is a data-driven transparency initiative led by Global Canopy and Stockholm Environment Institute (SEI). We map international trade in agricultural commodities and provide open-access data, insights, and tools that help companies, financial institutions, and governments strengthen accountability for their sustainability goals. www.trase.earth
About Forest 500
Forest 500 identifies the companies and financial institutions with the greatest exposure to deforestation risk, and annually assesses them on the strength and implementation of their commitments on deforestation, conversion of natural ecosystems and associated human rights. The 11th annual Forest 500 assessments took place between April and September 2024.
