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Olam recommends measures to tackle climate change in its ‘2°C Call to World Leaders and Industry’

Press release 3^rd Dec, 2015

Ahead of Olam International’s participation in events surrounding COP21 in Paris this week and next, Sunny Verghese, Co-Founder, Group Managing Director and CEO of the leading agri-business, today made calls for world leaders and the agri, food and beverage sectors to take up a number of measures to tackle climate change.

In Olam’s 2°C Paper, Mr Verghese calls on world leaders to commit to a global carbon tax; support robust carbon off-set mechanisms; make Green Bonds attractive and cost-competitive investments; develop national land use plans; recognise the role of Public Private Partnerships in helping emerging nations, particularly in terms of mobilising finance; and engage non-state actors to actively contribute to national targets.

Also addressing peers in the agri, food and beverage sectors, Mr Verghese urges companies to adopt climate smart agricultural practices and join the World Business Council for Sustainable Development’s (WBCSD) Low Carbon Technology Partnership Initiative (LCTPi) to halve agricultural emissions by 2050. Mr Verghese argues that collaboration, cost-sharing and driving consumer awareness will be key to achieving reduced emissions in sustainable supply chains.

In the Paper, Mr Verghese also outlines Olam’s commitments to climate change mitigation and adaptation including ambitious emissions reductions targets, implementing climate resilient practices in Olam-managed farms and plantations, programmes for REDD+ and verified climate smart cocoa. Olam also commits to leading industry collaboration and identification of critical areas of underinvestment.

Olam’s participation in Paris:

Mr Verghese will be speaking further on the 2°C Paper at the Global Landscapes Forum on 6th December and attending WBCSD side events throughout the talks
Olam Wood Products subsidiary, Congolaise Industrielle des Bois (CIB), will be presenting a pioneering REDD+ programme in partnership with the Government of the Republic of Congo at: REDD+ in the Republic of Congo: A multi-stakeholder programmatic approach 12:00 on 4th December at the IUCN Pavilion (Hall 3, Pavilion 5)
Chris Brown, Olam’s General Manager for Environmental Sustainability, spoke on the panel supporting the launch of WBCSD’s LCTPI CSA Report on 1st December.

The full text of Olam’s 2° Paper is available online here.