Cranswick PLC
CWK:LN GB0002318888
Key Information
HQ:
United Kingdom
Market Cap:
$3.61bn
Primary Market:
Europe & Russia
Waste & Pollution Engagement
Analysis Overview
Risk Assessment Value Chain Coverage Risk Mitigation Circularity Company Engagement
Summary
Cranswick will begin the TNFD process and is likely to disclose the initial results in 2025.
Analysis Breakdown
Risk Assessment
Medium
Coverage of water quality risk assessment
The company conducts a water risk analysis each year for its own direct operations. The company considers both water availability and water quality at a basin/catchment level. The company mentions using different tools such as the WRI Aqueduct tool, WWF Water Risk Filter, as well as internal company methods.
The company discloses only two facilities at risk from water scarcity. Concerning water quality, the company only mentions that declining water quality from its outdoor pig farms can damage the company´s brand. The company mentions contaminated water from direct run-off from farms and the need to adopt soil conservation practices. However, it does not specify regions that are currently at risk from water quality.
The company also mentions it has completed initial biodiversity screening against a 2021 baseline and is undertaking an analysis of soil nutrient levels that support a good habitat for soil micro-organisms.
Transparency and disclosure of water quality indicators
The company discloses monitoring BOD, COD, suspended solids and pH values for each site but doesn't report a company average, or any specific site where emissions exceed the IFC EHD guideline or any other standard. Checking for nitrates and phosphates is done at a few sites but the volumes are not measured. The company does not disclose the concentrations of nutrients in wastewater discharged in priority bodies.
The company discloses in its CDP report that its water related capex increased in 2023, but it doesn't make explicit the share of its £85.1m capex spend allocated to water quality.
There were no incidents of non-compliance in 2022 and 2023.
Recognition of nutrient pollution risk on biodiversity
While the company has not identified areas of high biodiversity value or especially sensitive to nutrient pollution, it does acknowledge that outdoor pig units can cause runoff and contaminate water.
The company discusses biodiversity as a strategy risk and opportunity, and it mentions that it is working with the Rivers Trust on restoration projects. It also discusses the potential impacts of its suppliers on biodiversity from water quality though there is no clear link at present to how this approach drives risk assessments.
Value Chain Coverage
Poor
Inclusion of upstream feed and livestock suppliers in risk assessment
The risk assessment only partially cover its animal suppliers, with a focus on critical supplier sites.
Regarding feed, the company only discloses information about its efforts to overcome transparency challenges in the production of soya when referring to high or extremely high baseline water stress, but the company does not provide more details about it. There is no information about other crops.
The use of fertiliser and manure by feed ingredient suppliers is also not discussed in the company's climate despite its target of cutting relative scope 3 emissions by 50%.
Downstream use of manure by animal feed suppliers
The company mentions using "Straw for muck" arrangements with local farmers to use manure for their crops.
Acknowledgment of regulatory risks
While the company discusses the potential brand damage caused by nutrient pollution from outdoor pig operations, it does not discuss regulation.
Transparency on non-compliance from suppliers
The company conducted 360 supplier audits in 2023 but these are focused on food safety and traceability. There is no indication that the company audits manure storage or compliance with nutrient management plans.
There is no disclosure of non-compliance by suppliers.
Risk Mitigation
Poor
Biogas generation and organic fertilisers from animal waste
The company discloses that it is trialling anaerobic digestion at one poultry processing site and investing in slurry management infrastructure but doesn't disclose the percentage of manure from indoor-raised pigs and poultry receiving some treatment.
Target-setting for water quality
The company does not have a water quality or animal waste target.
The company mentions undertaking surface and groundwater digital mapping across its pig herd breeding units to ensure adequate measures are in place to prevent water run-off and soil erosion. The company explains different measures it aims to implement to decrease the run-off of nutrients. However, the company does not disclose information about locations in areas of high water quality risk and does not mention specific actions for those operations.
Support to third-party suppliers
The company discusses working with its supply chain to address biodiversity loss from water pollution but does not disclose what this consists of. The company discloses that all its own manure is managed under a nutrient management plan through "Straw for muck" agreements but not whether any agronomic support is provided.
The company is trialling diet adjustments, but these are focused on replacing soy exposed to deforestation with certified soy and other ingredients to reduce soy-related emissions.
Circularity
Poor
Pilot projects around nutrient circularity
The company does not disclose this information.
Disclosure of investment in circular solutions
The company does not disclose this information.
Targets to increase share of manure under circular initiatives
The company does not disclose this information.
Company Engagement
Good
Level of company engagement with the coalition
The company provided a response to the investor letter and responded to the engagement questions. The company met with investors within the engagement period. The company did not acknowledge the FAIRR’s assessment and it did not provide feedback.
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Workstream Information
2024/25 level
Poor
Index Waste & Pollution Score:
21/100
Assessed Proteins:
Poultry and eggs, Pork
Last Updated:
26 June 2024
2024/25 Resources
Phase 3 | Investor Briefing Pack Waste & Pollution Engagement