There was a time when the loudest calls for the food industry to raise its social and environmental game came from consumers. But, while shoppers still want to know how their food is produced, increasing attention is being paid by investors to the negative effects of food production and its risks to the planet — as well as to long-term financial returns.

With an eye on the carbon footprint of their portfolios, investors — particularly those with ESG (environmental, social and governance) strategies — want to see food companies working to meet climate goals, says Bas Rüter, global head of food system transition at Rabobank, a Dutch lender that specialises in agribusiness. “After the energy sector, the food and agriculture sector is the second biggest sector contributing to climate change — investors are aware of that.”

Greenhouse gas emissions are not the industry’s only negative impact. From biodiversity loss to water pollution and deforestation, food production gives ESG investors plenty of reasons to worry.