ofi Finance for Sustainability Function (F4S) has also developed the ofi Integrated Impact Statement (IIS), a tool for multi-capital accounting. In 2019, F4S developed the IIS for the cocoa business to support the Cocoa Compass sustainability strategy.
As well as company annual reporting, we report on other initiatives like CDP (Climate, Water & Forests) and product-specific initiatives such as the Cocoa and Forests Initiative.
An example of our reporting includes disclosure on our GHG emissions – here is our FY23 performance:
On-farm emissions in our supply chains - Scope 3 - are by far the biggest contributor to our footprint. To reduce emissions, we work closely with farmers to incentivize and implement climate-smart measures, and our award-winning Carbon Scenario Planner - built into AtSource - allows us to model and recommend the most cost-effective methods. Our AtSource Digital Footprint Calculator (DFC) delivers to customers their total carbon footprint with a detailed breakdown across the supply chain - from the farm itself through to processing and final delivery to the customer. We measure the carbon emissions associated with factors such as land use change, fertiliser, crop residues, irrigation and energy use, and transportation - and for some supply chains, the quantity of carbon sequestered in soil and trees. Beyond the farmgate, we have been working to drive down Scope 1 and 2 emissions in our large processing facilities using crop biomass residues and investing in clean energy initiatives.
What others say
Here’s a selection of third-party reports assessing our progress towards sustainable supply chains:
Read ofi news
ofi works with some of the world’s best-known food and beverage brands, food manufacturers, retailers, and food service outlets, as well as several niche and premium regional players. OFI has established market-leading positions across a range of on-trend, natural and plant-based products, delivering sustainable and innovative solutions to consumers across the world.
As parent company of ofi and OGA, OIL plays a key role to unlock the full value of the Olam Group by providing interim stewardship to the new operating groups until carve-out, IPO and demergers are completed, responsibly divesting the de-prioritised businesses and assets, nurturing gestating businesses to full potential, incubating new engines for future growth, developing key cross cutting initiatives, and providing shared services to the new operating groups.
Olam International Limited (“Olam”) today announces that Niall FitzGerald has been appointed as the Chair of the Board of Directors for its operating group, Olam Food Ingredients (“ofi”), effective 9 September 2021. ofi was created in early 2020 following the announcement of the re-organisation of Olam to unlock and maximise its long-term value.
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