Olam International Combines Financial and Sustainability Reporting to Highlight Importance of Creating Holistic Value
Olam International has merged its Annual Report with its Corporate Responsibility and Sustainability Report for the first time, reflecting the interdependence of economic, social and environmental performance for the global agri-business and the importance of creating value across all three fronts.
The theme of the FY2016 Report, Maximising Value and Purpose, reflects the building blocks of an enduring business, according to Co-Founder and Group CEO, Sunny Verghese:
“The macro changes that the world is experiencing have long-term implications for how businesses are led, organised, managed and financed. At Olam, we must continue to maximise shareholder value while pursuing a purpose-driven model, providing consistent transparency, advancing sustainability and engaging with an ever-broadening community of stakeholders.”
The Report’s social and environmental sections discuss progress and challenges within Olam’s 7 material areas: Livelihoods, Labour, Food Security and Nutrition, Food Safety and Quality, Land, Water and Climate Change.
Highlights up to 31 December 2016 included:
- 32,954 new smallholders registered on the Olam Farmer Information System (OFIS) to bring the total to more than 65,000. Working with smallholder farmers and mobile technology, Olam surveys and registers their farms and local social infrastructure. OFIS is also able to collect and analyse transaction data from the farm onwards, as well as all farmer training records. This data means that users have unparalleled transparency into the smallholder supplier network and sustainability initiatives.
- As a result, OFIS generated individual farm management plans for 10,474 cocoa smallholders.
- The 8 principles of the Olam Livelihood Charter continued to support smallholders with 44 initiatives in 19 countries embracing over 300,000 smallholders. Thousands more were supported in other sustainability programmes.
- 92 entries were received for the Olam Prize for Innovation in Food Security run in partnership with Agropolis Fondation.
- 190,000 people in Africa were reached under the Olam Healthy Living Campaign which included sensitisation and prevention for HIV and malaria.
- A 31% improvement on irrigation and process water intensity was achieved for Olam’s own operations (vs. FY15).
- A 29% improvement was achieved on the carbon footprint from Olam’s own operations (vs. FY15).
- The launch of the Global Agri-business Alliance at the Building Sustainable Futures Forum convened by Olam.
Read the Annual Report Maximising Value and Purpose
Watch the CEO Perspective with Sunny Verghese
Read the Social Q&A and Environment Q&A with Dr Christopher Stewart, Head of Corporate Responsibility and Sustainability
Read the 2016 Olam Livelihood Report
Read the 2016 GRI report.
For further information on Olam International, visit www.olamgroup.com
Media Contact:
Nikki Barber
+44 2074848994
