How sustainability can mitigate risk in emerging markets
Chris Brown, Olam’s Vice President for Corporate Responsibility and Sustainability, yesterday spoke about how a commitment to sustainability makes good business sense.
As part of the his presentation at ComRisk2017, the global commodity risk management forum, Chris highlighted how a strong sustainability strategy encompassing environmental, social and economic standards, can be a practical tool for reducing operating risk as well as identifying and implementing business opportunities in more challenging emerging markets. Olam has experienced the benefit of this first hand and Chris outlined two of our flagship sustainability initiatives.
The Olam Livelihood Charter empowers smallholder farmers worldwide to pull themselves out of poverty towards commercial viability. Through focusing on areas such as financial support, training, education and infrastructure, we not only improve farmer livelihoods but provide our customers with the sustainable products they demand. Our Olam Supplier Code also helps us to do this – we actively pursue long-term relationships with suppliers based on responsible business practices and trust. The Code sets down a comprehensive set of conditions that helps us manage both the risks involved in the supply chain while also ensuring we fulfil our commitment to growing responsibly.
ComRisk 2017, was held 16th-18th May 2017 in London.