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Executive Summary

Citi GPS

Elizabeth Curmi

Jason Channell

Ying Qin

What comes to mind in a discussion about greenhouse gas (GHG) emissions? A dirty factory smokestack spewing out brown smoke or a car idling in traffic on a highway pumping out exhaust fumes? Looking through media articles on the effects of GHG emissions on climate change, the associated images are typically of cars, buses, and factories polluting the environment. These images link the use of fossil fuels with activities that endanger the environment. From a public policy standpoint, mitigation measures for emissions also focus on fossil fuels. Government actions to reduce climate footprints focus on renewable energy to replace coal and gas-powered electricity generation and electric vehicles to replace internal combustion engines. Only occasionally, it seems, the focus strays from fossil fuels to methane emissions from cows. But images of green farmland are not what comes to mind when thinking about harmful emissions. Unfortunately, the global food system— agriculture and food production collectively — is responsible for one-third of global greenhouse gas emissions. This means a global solution to climate change must also address how the world produces and distributes food to its population. As the population of the world and the demand for food increase, the need to find solutions for mitigating emissions from the global food system becomes even more important. The two largest sources of emissions from the global food sector are from deforestation, particularly land clearing for crop production or pasture for cattle farming, which release carbon dioxide; and enteric fermentation, which emits methane during the production of meat. Emissions are also found through the full food supply chain, including in processing, transportation, and household consumption. SOLUTIONS FOR MITIGATING EMISSIONS Given the complexity of the global food ecosystem — not just in overall size of the system but in the number of players — there is no single solution to reducing emissions. In the report that follows, we look at six potential solutions to this challenge. These include (1) regenerative agriculture, (2) low carbon livestock, (3) halting deforestation, (4) reducing food waste, (5) investing in low carbon technology to decarbonize energy-related emissions, and (6) investing in innovation. Implementing just the first four solutions noted above could lead to emissions mitigation of between 6.9 gigatonnes of carbon dioxide equivalent (GtCO2e) and 8.1 GtCO2e, or between 58% and 68% of current levels of equivalent emissions from the global food system. This would be an enormous step towards reducing emissions to net zero. COORDINATION IS KEY Bringing mitigation solutions to life will require coordination between companies, governments, and consumers. Financial institutions will also play a key role by providing options to meet the estimated $300 billion to $400 billion required for this transformation. Research organizations and international institutions also have an important role in supporting change. Authors: Elizabeth Curmi,Jason Channell,Ying Qin,

<h3 style="box-sizing: inherit; margin: 0px 0px 0.5rem; padding: 0px; line-height: 1.4; text-rendering: optimizelegibility; font-size: 1.25rem; background-color: #ffffff;">What comes to mind in a discussion about greenhouse gas (GHG) emissions? A dirty factory smokestack spewing out brown smoke or a car idling in traffic on a highway pumping out exhaust fumes? Looking through media articles on the effects of GHG emissions on climate change, the associated images are typically of cars, buses, and factories polluting the environment. These images link the use of fossil fuels with activities that endanger the environment. From a public policy standpoint, mitigation measures for emissions also focus on fossil fuels. Government actions to reduce climate footprints focus on renewable energy to replace coal and gas-powered electricity generation and electric vehicles to replace internal combustion engines.</h3>
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<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;">Only occasionally, it seems, the focus strays from fossil fuels to methane emissions from cows. But images of green farmland are not what comes to mind when thinking about harmful emissions. Unfortunately, the global food system&mdash; agriculture and food production collectively &mdash; is responsible for one-third of global greenhouse gas emissions. This means a global solution to climate change must also address how the world produces and distributes food to its population. As the population of the world and the demand for food increase, the need to find solutions for mitigating emissions from the global food system becomes even more important.</p>
<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;">The two largest sources of emissions from the global food sector are from deforestation, particularly land clearing for crop production or pasture for cattle farming, which release carbon dioxide; and enteric fermentation, which emits methane during the production of meat. Emissions are also found through the full food supply chain, including in processing, transportation, and household consumption.</p>
<h4 style="box-sizing: inherit; margin: 0px 0px 0.5rem; padding: 0px; line-height: 1.4; text-rendering: optimizelegibility; text-transform: uppercase; font-size: 1.125rem; background-color: #ffffff;">SOLUTIONS FOR MITIGATING EMISSIONS</h4>
<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;">Given the complexity of the global food ecosystem &mdash; not just in overall size of the system but in the number of players &mdash; there is no single solution to reducing emissions. In the report that follows, we look at six potential solutions to this challenge. These include (1) regenerative agriculture, (2) low carbon livestock, (3) halting deforestation, (4) reducing food waste, (5) investing in low carbon technology to decarbonize energy-related emissions, and (6) investing in innovation.</p>
<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;"><img class="alignnone size-full wp-image-11270" style="box-sizing: inherit; border-width: 0px; vertical-align: middle; display: inline-block; max-width: 100%; margin-bottom: 30px;" src="/rcs/citigpa/storage/public/icpublic/Fig-33-Reducing_GHG_Emissions_v1.png" alt="" width="100%" height="auto" /></p>
<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;">Implementing just the first four solutions noted above could lead to emissions mitigation of between 6.9 gigatonnes of carbon dioxide equivalent (GtCO2e) and 8.1 GtCO2e, or between 58% and 68% of current levels of equivalent emissions from the global food system. This would be an enormous step towards reducing emissions to net zero.</p>
<h4 style="box-sizing: inherit; margin: 0px 0px 0.5rem; padding: 0px; line-height: 1.4; text-rendering: optimizelegibility; text-transform: uppercase; font-size: 1.125rem; background-color: #ffffff;">COORDINATION IS KEY</h4>
<p style="box-sizing: inherit; margin: 0px 0px 20px; padding: 0px; font-size: 16px; line-height: 1.35; text-rendering: optimizelegibility; font-weight: 300; background-color: #ffffff;">Bringing mitigation solutions to life will require coordination between companies, governments, and consumers. Financial institutions will also play a key role by providing options to meet the estimated $300 billion to $400 billion required for this transformation. Research organizations and international institutions also have an important role in supporting change.</p>
<p><span class="authList" style="display: none;">Authors: Elizabeth Curmi,Jason Channell,Ying Qin,</span></p>

The Global Food System and Climate Change The global food system has far-reaching impacts on climate, emissions, nutrition, and livelihoods. It has also altered our planet more than any other human activity. Food insecurity is a large and growing concern, but it cannot be solved for without reducing greenhouse gas (GHG) emissions and addressing the effects of climate change.

The global food system has far-reaching impacts on climate, emissions, nutrition, and livelihoods. It has also altered our planet more than any other human activity. Food insecurity is a large and growing concern, but it cannot be solved for without reducing greenhouse gas (GHG) emissions and addressing the effects of climate change.

The Global Food System and Climate Change

Finding Solutions and Taking Action We explore six solutions for reducing GHG emissions, including four — regenerative agriculture, low carbon livestock, halting deforestation, and reducing food waste — that could mitigate almost 70% of current emissions. Companies, governments, and consumers can take specific actions to help implement these solutions. Collaboration is key, and financial institutions, research organization, and international institutions play critical roles in supporting change. These solutions can also work towards UN Sustainable Development Goals by achieving benefits such as safeguarding biodiversity and improving livelihoods, all of which would lead to greater food security.

We explore six solutions for reducing GHG emissions, including four — regenerative agriculture, low carbon livestock, halting deforestation, and reducing food waste — that could mitigate almost 70% of current emissions. Companies, governments, and consumers can take specific actions to help implement these solutions. Collaboration is key, and financial institutions, research organization, and international institutions play critical roles in supporting change. These solutions can also work towards UN Sustainable Development Goals by achieving benefits such as safeguarding biodiversity and improving livelihoods, all of which would lead to greater food security.

Finding Solutions and Taking Action

What comes to mind in a discussion about greenhouse gas (GHG) emissions? A dirty factory smokestack spewing out brown smoke or a car idling in traffic on a highway pumping out exhaust fumes? Looking through media articles on the effects of GHG emissions on climate change, the associated images are typically of cars, buses, and factories polluting the environment. These images link the use of fossil fuels with activities that endanger the environment. From a public policy standpoint, mitigation measures for emissions also focus on fossil fuels. Government actions to reduce climate footprints focus on renewable energy to replace coal and gas-powered electricity generation and electric vehicles to replace internal combustion engines. Only occasionally, it seems, the focus strays from fossil fuels to methane emissions from cows. But images of green farmland are not what comes to mind when thinking about harmful emissions. Unfortunately, the global food system— agriculture and food production collectively — is responsible for one-third of global greenhouse gas emissions. This means a global solution to climate change must also address how the world produces and distributes food to its population. As the population of the world and the demand for food increase, the need to find solutions for mitigating emissions from the global food system becomes even more important. The two largest sources of emissions from the global food sector are from deforestation, particularly land clearing for crop production or pasture for cattle farming, which release carbon dioxide; and enteric fermentation, which emits methane during the production of meat. Emissions are also found through the full food supply chain, including in processing, transportation, and household consumption. SOLUTIONS FOR MITIGATING EMISSIONS Given the complexity of the global food ecosystem — not just in overall size of the system but in the number of players — there is no single solution to reducing emissions. In the report that follows, we look at six potential solutions to this challenge. These include (1) regenerative agriculture, (2) low carbon livestock, (3) halting deforestation, (4) reducing food waste, (5) investing in low carbon technology to decarbonize energy-related emissions, and (6) investing in innovation. Implementing just the first four solutions noted above could lead to emissions mitigation of between 6.9 gigatonnes of carbon dioxide equivalent (GtCO2e) and 8.1 GtCO2e, or between 58% and 68% of current levels of equivalent emissions from the global food system. This would be an enormous step towards reducing emissions to net zero. COORDINATION IS KEY Bringing mitigation solutions to life will require coordination between companies, governments, and consumers. Financial institutions will also play a key role by providing options to meet the estimated $300 billion to $400 billion required for this transformation. Research organizations and international institutions also have an important role in supporting change. Authors: Elizabeth Curmi,Jason Channell,Ying Qin, The Global Food System and Climate Change The global food system has far-reaching impacts on climate, emissions, nutrition, and livelihoods. It has also altered our planet more than any other human activity. Food insecurity is a large and growing concern, but it cannot be solved for without reducing greenhouse gas (GHG) emissions and addressing the effects of climate change. Finding Solutions and Taking Action We explore six solutions for reducing GHG emissions, including four — regenerative agriculture, low carbon livestock, halting deforestation, and reducing food waste — that could mitigate almost 70% of current emissions. Companies, governments, and consumers can take specific actions to help implement these solutions. Collaboration is key, and financial institutions, research organization, and international institutions play critical roles in supporting change. These solutions can also work towards UN Sustainable Development Goals by achieving benefits such as safeguarding biodiversity and improving livelihoods, all of which would lead to greater food security.

Creating Sustainable Food Systems for a Net Zero Future

What comes to mind in a discussion about greenhouse gas (GHG) emissions? Food, agriculture, and climate change are inextricably linked – not only is the sector one of the largest contributors of greenhouse gas (GHG) emissions, but conversely, climate change will have a detrimental impact on food production in many regions. 

Food and Climate Change

Host: Jason Channell, Head of Sustainable Finance, Citi Global Insights Featuring: Liz Curmi, Global Thematic Analyst, Citi Global Insights The views expressed herein are those of the speakers and do not necessarily reflect the views of Citigroup Global Markets Inc. or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.

<p><strong>Host: Jason Channell, </strong>Head of Sustainable Finance, Citi Global Insights&nbsp;&nbsp;</p>
<p><strong>Featuring: Liz Curmi, </strong>Global Thematic Analyst, Citi Global Insights&nbsp;</p>
<p>The views expressed herein are those of the speakers and&nbsp;do not&nbsp;necessarily reflect the&nbsp;views of Citigroup Global Markets Inc. or its affiliates. All opinions are subject to change&nbsp;without notice. Neither the information&nbsp;provided&nbsp;nor any opinion expressed constitutes&nbsp;a solicitation for the purchase or sale of any security. The expressions of opinion&nbsp;are not&nbsp;intended to be a forecast of future events or a guarantee of future results.</p>

While discussions on decarbonization have historically focused on the energy sector, it won’t be possible to keep temperatures within a 1.5º range unless we tackle emissions from food and agriculture. While food and agriculture have a significant impact on climate change, climate change will have enormous impacts on our food system. 

Transition Talks: Building a Sustainable Future, E4: Food and Climate Change

The Citi GPS Food Security report looks at the current state of the world with relation to food insecurity and hunger. Food security is typically caused by three main factors: environmental disaster, conflict, and social, political, or economic shifts. In 2022, we find ourselves in a perfect storm of all three. While some of these factors may be alleviated in 2023, their effects will take time to work through.  We examine the potential solutions to alleviate current food insecurity and prevent or lessen the severity of future occurrences, looking at four categories: social, technological , public sector, and financial/economic solutions. 

Food Security

For the launch of this series, Geeta Sethi, Advisor and Global Lead for Food Systems at the World Bank joins Liz Curmi, Director and Head of Climate Finance and Energy Transition at Citi Global Insights, to discuss the Twin Challenges of food security and sustainability.