A major Canadian meat producer is among a group of industry leaders facing criticism after a new report from a climate-focused investor group showed greenhouse gas emissions on the rise.

Saputo is among the list of the world’s 20 biggest beef and poultry producers that collectively saw emissions rise by 3.28 per cent in 2023 compared to last year, according to data released by the Coller FAIRR Protein Producer Index on Tuesday.

The report shows Saputo, ranked 10th in the world in terms of market capitalization, saw emissions climb by 1.37 per cent in 2023 to 14.8 million tonnes of carbon dioxide.

Of the 20 biggest companies in the industry, 10 saw their emissions climb in the past year, while seven reduced emissions and three did not disclose their emissions data, the report said.

“The failure of leading meat and dairy companies to reduce emissions underlines the urgent need for more policy focus on the food and agriculture sector,” Jeremy Coller, chair and founder of the FAIRR network, wrote in a news release on the findings.

“Food system emissions deserve a place at the top of the table, alongside energy and transport, as they represent an estimated third of greenhouse gas emissions and 40 per cent of methane.”

Despite the rising emissions, Coller pointed to some positive movement in the industry, as the report showed some improvements “even among the worst-performing companies.”

Saputo is the only Canadian company included on the list of 20 biggest meat producers. However, the report also mentioned emissions at Maple Leaf Foods also grew slightly in 2023, putting it in the “medium risk” category.

BNNBloomberg.ca has reached out to Saputo and Maple Leaf Foods for comment.

FAIRR released the data ahead of the COP28 conference later this month, which will see world leaders gather in Dubai to discuss climate change-related issues.

Coller said the report shows “the urgent need for a real focus on food and agriculture” at the conference.