The seventh edition of the State of Sustainable Markets report offers comprehensive data, shedding light on the evolving landscape of sustainability standards and their significant impact on global trade.
The International Institute for Sustainable Development recently unveiled its latest findings in the seventh annual report on the global landscape of sustainable markets. Touted as the most exhaustive analysis of its kind, this report collates data across 14 leading sustainability standards, encompassing eight key agricultural commodities and forestry practices.
RELEVANT SUSTAINABLE GOALS
The State of Sustainable Markets 2023: Statistics and Emerging Trends
Defined by the Trade for Development Centre, sustainable trade is the process through which goods and services’ commercial exchanges bring about social, economic, and environmental benefits, aligning with the core tenets of sustainable development.
Growth in sustainability standards, particularly those aiming for mainstream adoption within specific sectors, is predominantly propelled by single-commodity standards, often covering the largest areas for their respective commodities. This trend is notably observed in cotton (with Better Cotton Initiative and Cotton made in Africa), oil palm (Roundtable on Sustainable Palm Oil), and soybean (Round Table on Responsible Soy and Bonsucro) sectors.
Despite the overall expansion of most commodities from 2020 to 2021, certain sectors such as bananas, cocoa, and coffee experienced a slight decline. However, the certified coffee and cocoa sectors still boast the largest share of total agricultural land dedicated to sustainability, with over 20% of coffee and cocoa areas certified.
Organic standards emerged as the preeminent sustainability certification in terms of both land coverage and product diversity, enveloping over 76 million hectares, or 1.6% of the world’s farmland. Meanwhile, the Rainforest Alliance saw its certification extend over more than 5 million hectares in 2021, marking a nearly 26% growth during the 2020–2021 period. Similarly, Better Cotton, the Round Table on Sustainable Palm Oil, and GlobalG.A.P. each certified upwards of 4 million hectares. The report underscores a consistent increase in the total area certified under most sustainability standards.
“As governments and international bodies step up efforts to tackle climate change, businesses embracing sustainability standards can demonstrate responsible corporate citizenship and position themselves as frontrunners in navigating evolving legal terrains”, said ITC Executive Director Pamela Coke-Hamilton.
“As governments and international bodies step up efforts to tackle climate change, businesses embracing sustainability standards can demonstrate responsible corporate citizenship and position themselves as frontrunners in navigating evolving legal terrains”, said ITC Executive Director Pamela Coke-Hamilton.
You may also be interested in :
Road To COP28 : Our Favorite Foods’ Uncertain Future, Soon Disappear From Our Menus
Never miss a story. Join us on social.