Growing Responsibly, Vision & Principles
Before outlining our Sustainability Strategy it’s important for our stakeholders to understand that our Core Purpose of Growing Responsibly is not just a sustainability initiative. Rather it is embedded within Olam’s overall business framework. It describes how we do our business every day and therefore all business units, geographies and functions are accountable for living this ethos.
Growing Responsibly seeks to ensure that profitable growth is achieved in an ethical, socially responsible and environmentally sustainable manner. As can be seen from the 3 supporting pillars, Growing Responsibly doesn’t just mean protecting the environment and supporting farmers and communities. By including Commercial factors, such as having a sound business model with strong risk management and governance, we protect our investors, shareholders and employees, which in turn means we have a resilient and sustainable business for our farmers, suppliers and customers.
The Sustainability strategy is therefore implemented under the framework of Growing Responsibly, primarily focusing on the Social and Environmental pillars. It is driven by the Corporate Responsibility and Sustainability (CR&S) Function with Manufacturing and Technical Services (MATS) playing a key role. Other functions including Human Resources, Treasury, Risk and Corporate Communications also contribute.
In 2011 we set ourselves an ambitious vision of achieving end-to-end sustainable supply chains by 2020. By this we mean that we can trace all product back to community level, communities prosper and natural resources are respected and protected. Not only will this differentiate our business and fulfil the increasing need from customers for sustainable products, it will ensure we continue to have the product volumes.
Please turn to our section on Goals for more detail.
Our guiding principles
- Improve the livelihoods of farmers and communities through initiatives that enhance productivity and returns
- Unlock Mutual Value with all of our stakeholders through collaboration
- Understand and mitigate our environmental footprint
- Ensure a safe, healthy and productive workplace for our people
- Participate in professional associations to further develop our key goals
Image: sesame farmers in Nigeria.
Next section: CR&S Strategic Objectives