Sustainability sits at the heart of ofi and Olam, our parent company. We report diligently on the progress towards our goals. The Olam Group annual reports are the primary place for these insights. You’ll find them in the Olam Investor Library.
We use the Global Reporting Initiative as a framework for our reporting, and we’ve been committed to the 10 principles of the UN Global Compact since 2016.
Olam Group takes a capitals approach, reporting on topics that are important to our stakeholders and contribute to the value of the company. Those topics are as follows:
Manufactured Capital: tools, equipment and infrastructure to serve customers
Human Capital: our people and what they need to thrive
Social Capital: relationships we build for long-term success
Natural Capital: natural resources needed for production of ingredients
Intangible Capital: our brand and how we’re seen by others
Intellectual Capital: knowledge and IP we create while we work
ofi Finance for Sustainability Function (F4S) has also developed the ofi Integrated Impact Statement (IIS), a tool for multi-capital accounting. In 2019, F4S developed the IIS for the cocoa business to support the Cocoa Compass sustainability strategy.
We give customers and partners insight into specific supply chain challenges and set targets to address them. We have now set public sustainability goals and targets across almonds,cashew,cocoa,coffee and hazelnuts and have published our first impact reports for coffee and cocoa.
As well as company annual reporting, we report on other initiatives like CDP (Climate, Water & Forests) and product-specific initiatives such as the Cocoa and Forests Initiative.
Here’s a selection of third-party reports assessing our progress towards sustainable supply chains:
ofi works with some of the world’s best-known food and beverage brands, food manufacturers, retailers, and food service outlets, as well as several niche and premium regional players. OFI has established market-leading positions across a range of on-trend, natural and plant-based products, delivering sustainable and innovative solutions to consumers across the world.
As parent company of ofi and OGA, OIL plays a key role to unlock the full value of the Olam Group by providing interim stewardship to the new operating groups until carve-out, IPO and demergers are completed, responsibly divesting the de-prioritised businesses and assets, nurturing gestating businesses to full potential, incubating new engines for future growth, developing key cross cutting initiatives, and providing shared services to the new operating groups.
Olam International Limited (“Olam”) today announces that Niall FitzGerald has been appointed as the Chair of the Board of Directors for its operating group, Olam Food Ingredients (“ofi”), effective 9 September 2021. ofi was created in early 2020 following the announcement of the re-organisation of Olam to unlock and maximise its long-term value.
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