Key Takeaways
- Planet Tracker has identified material climate transition risks at Corteva, Mosaic, Nutrien, Syngenta Group, and Yara, citing weak emissions disclosure and limited value-chain engagement.
- None of the five companies hold emissions reduction targets validated by the Science Based Targets initiative (SBTi).
- Scope 3 emissions account for roughly 70% of the footprint at Yara and Mosaic; Syngenta Group and Nutrien do not disclose Scope 3 figures at all.
- Based on historical trends, Mosaic's total reported emissions could increase by 83% by 2030, while Yara's could fall by 24%.
- Planet Tracker is calling on investors to push for greater Scope 3 transparency and executive pay structures that tie at least 10% of variable compensation to climate performance.
Financial think tank Planet Tracker has published new analysis identifying significant gaps in the climate transition strategies of five major companies in the fertiliser and crop protection sectors: Corteva, Mosaic, Nutrien, Syngenta Group, and Yara. The report warns that investors face growing risks due to inconsistent emissions disclosure and executive pay structures that frequently lack clear climate-linked incentives.
Sector Context and Systemic Risk
The global food system generates approximately one-third of total greenhouse gas emissions worldwide, and fertiliser and crop protection companies occupy a central role in that system. Yet Planet Tracker's report concludes that the five companies examined are falling short on the transparency and planning required to manage their transition exposure.
A central finding is that none of the five companies have had their emissions reduction targets validated by the Science Based Targets initiative. All five are also described as lagging on engagement with the suppliers and customers that represent the largest share of their combined emissions footprint. The report is part of Planet Tracker's broader work tracking financial risk across the agricultural sustainability landscape.
Scope 3 Disclosure Remains a Blind Spot
Planet Tracker highlights Scope 3 emissions as a material but poorly disclosed element of the sector's overall footprint. At Yara and Mosaic, Scope 3 is estimated to represent around 70% of total emissions. The think tank believes comparable proportions likely apply to Corteva, Nutrien, and Syngenta, though disclosure gaps prevent confirmation.
Syngenta Group and Nutrien do not disclose Scope 3 figures at all. Corteva provides only partial disclosure. Where figures are reported, categorisation is inconsistent across Corteva, Mosaic, and Yara, making direct peer comparison difficult and limiting investors' ability to assess transition risk on a like-for-like basis. These gaps affect how agricultural investors can evaluate and price climate exposure.
Diverging Emissions Trajectories
The analysis reveals significant divergence in projected emissions pathways based on historical trends. Planet Tracker estimates that Mosaic's total reported emissions could rise by 83% by 2030, while Yara's could decline by 24% over the same period. The report does identify areas of progress: several companies have achieved operational emissions reductions, and Yara is noted for more developed transition planning and capital allocation strategies relative to peers.
“Investors need consistent and transparent disclosure to assess how prepared companies are for the climate transition. Without clearer and more comparable reporting, and without credible transition planning, it will remain difficult for investors to compare companies on a like-for-like basis and assess exposure to growing transition pressures,” said Richard Wielechowski, Senior Investment Analyst at Planet Tracker.
Planet Tracker Recommendations for Investors
Planet Tracker is directing its recommendations at long-term investors in the crop protection and fertiliser sectors. The think tank is asking investors to promote greater transparency in Scope 3 reporting, climate scenario modelling, and transition cost disclosure; to push companies for clearer plans on reducing emissions across supplier and customer value chains; to prioritise companies demonstrating measurable emissions reductions; and to advocate for executive compensation schemes where at least 10% of variable pay is tied to climate strategy delivery.
The full report, Food For Thought: Climate Transition Analysis of the Crop Protection and Fertiliser Sectors, is available on their website.
