Olam Cocoa, the supplier of cocoa beans and ingredients, is launching a ‘Cocoa Compass’ to foster supply chain sustainability and traceability.
The Compass aims to support the creation of an “environmentally positive, professionalised and quality focussed supply chain comprising farmers earning a living income and whose children have access to education”.
It targets areas for action that will have the greatest positive impact under the three pillars of ‘Focused on Farmers’; ‘Empowered to Grow’ and ‘Investing in Nature’.
Aligned with the UN’s Sustainable Development Goals (SDGs) and with milestones for action in 2020 and 2024, Cocoa Compass sets concrete goals for 2030 across the company’s global, direct cocoa supply chain.
These goals address living incomes for farmers, child labour, education, deforestation, and the environment to help achieve Olam Cocoa’s vision for the future of the cocoa sector:
“With our living income goal, we are focusing our efforts on supporting the farmers we believe can be the backbone of a sustainable cocoa supply chain, while continuing to provide holistic support to all cocoa farmers in our sustainability programmes,” said Olam Cocoa CEO Gerald A Manley.
“We know there is still more to do which is why we are challenging ourselves, and the industry, to have an even greater positive impact on the future of cocoa.”
To date, Olam Cocoa has already achieved 100% traceability of its sustainable supply chain in Côte d’Ivoire and Ghana under its 2020 traceability commitment and its pledge to combat deforestation as part of its Cocoa & Forests Initiative action plans.
It will publish an annual Cocoa Compass Impact Report to share data collection methodology and update on progress against its goals.