This, he said, was across all sectors of the business including transport, packaging and product ingredients of which beef and dairy are the biggest part.
He said: "Agriculture is complex but the role of producers is pivotal. The biggest challenge is data which is only valuable when collated with others. At the moment, industry data is rubbish and this means we cannot defend ourselves."
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In a move to address this, the Co-Op, in partnership with its supplier, Dunbia, has launched a Beef Sustainability pilot scheme, which will financially reward its beef producers for reducing their carbon footprint.
Pilot
Mr Keating explained that about 10 per cent of its beef farmers will take part in the pilot. They will have access to a bespoke emissions plan and will implement options which have been recommended as part of this.
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Throughout the programme, Dunbia will share knowledge and best practise, raise awareness and offer support to farmers.
Sustainability dividend
Farmers who demonstrate that they have reduced their emissions to 30 per cent below the industry average will receive a sustainability dividend of a 6-12p/kg/deadweight premium, depending on their level of reduction, at the end of the year.
Mr Keating said: "Recognising and rewarding farmers who are leading the way and making positive changes to reduce their carbon footprint is important in developing a more resilient and sustainable agriculture industry."
