Olam unites with peers and confectionery manufacturers for Sustainable Cocoa
As a Board Member of the World Cocoa Foundation, Olam is delighted that 11 of the world’s largest chocolate and cocoa companies, together with Olam, have signed an agreement to build a rejuvenated and economically viable cocoa sector through increased cooperation between industry members and the Côte d’Ivoire and Ghana Governments. This is part of an unprecedented strategy to accelerate actions to make cocoa farming sustainable. The plan, known as CocoaAction, will be coordinated by the World Cocoa Foundation.
Ghana and Côte d’Ivoire currently provide around 55 percent of the world’s cocoa supply, but they face a number of challenges, most notably encouraging the younger generation to see cocoa farming as a viable career. This collaborative initiative expects to help a total of at least 300,000 farmers across the two countries to increase productivity by 2020.
Why is CocoaAction different to the work Olam is already doing in communities?
As part of our sustainability strategy that seeks to unlock mutual value for our suppliers as well as for Olam, we work with farmers across cocoa growing countries, including Ghana and Côte d’Ivoire, under the framework of the Olam Livelihood Charter, providing support such as pre-finance, seedlings and fertiliser as well as training farmers in good labour practices. Other CocoaAction signatory companies also their have initiatives in cocoa growing communities. Some may be in partnerships such as our GrowCocoa joint venture with The Blommer Chocolate Company but currently there hasn’t been wider industry co-ordination. Through this voluntary collaboration, CocoaAction will therefore enhance the impact of our programmes by sharing best practice and learnings, as well as aligning industry resources. CocoaAction will eventually be extended to other cocoa-producing countries and is already open to public and private sector participants who support sustainability in the cocoa sector.
Companies that have joined Olam in committing to CocoaAction include Mondelēz International; Nestlé; Blommer Chocolate Company; Ecom; Ferrero; Armajaro; The Hershey Company; Mars, Incorporated; ADM; Barry Callebaut and Cargill.
Read more about how challenges have been met by the cocoa industry and the developments ahead in an article by Olam Global Head of Cocoa and WCF board member, Gerry Manley.