Sustainability Report 2010 - Finlays

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Business Unit performance 4.2 Leaf Tea Trading and Extracts 42 Health and well-being Health and well-being have assumed a high priority for food manufacturers and retailers in recent years. Many of Finlays’ customers are pursuing strategies to enhance their health and well-being credentials, including: • Developing foods with added benefits • Reformulating existing products to make them more nutritious • Emphasising environmental credentials • Eliminating ingredients of an artificial or unhealthy nature Finlays Sustainability Report 2010
Business Unit performance 4.2 Leaf Tea Trading and Extracts In 2010 we conducted an extensive review of the health and well being market. The purpose of our research was to ascertain how we can meet the needs of our customers, now and in the future, whilst maintaining our commitments to the environment and the communities in which we operate. Two key focus areas inform our health and well-being strategy: i. Enhancing the health and wellness credentials of our product portfolio ii. Continued engagement with suppliers and customers in the development and maintenance of certifications and standards (see box below). Tea has gained popularity amongst product developers as a functional ingredient. It is now found in many products where it may not traditionally have been expected i.e. functional beverages, pet foods, beauty products, breakfast cereals, juices and snacks. As the second most consumed beverage in the world - and one with perceived inherent health benefits - tea is a welcome ingredient for developers and consumers. We predict that its popularity will continue to grow as ‘naturalness’ takes precedence over synthetic ingredients. Finlays’ product portfolio contains many products suitable for these purposes and we will continue to drive product development in this area, alongside the promotion of responsible communication on tea and health. Finlays Sustainability Report 2010 NGOs and their certification schemes have played a transformational role in driving the health and well being agenda of society in the tea industry. These schemes will continue to help shape how tea is produced. As a business-to-business company, we sit between producers and many of the retailers and tea packers, giving us an important role in communicating messages up and down the supply chain. We are committed to continue facilitating the development and implementation of trading standards and certifications that contribute positively to the health and well being of consumers and society as a whole. During 2011 we plan to roll out our health and well being programme across all departments within Finlays Leaf Tea Trading and Extracts and will develop specific plans to help us meet our objectives. Health and well-being targets for 2011 • Develop a carbon footprint model for tea; validate methodology through pilot assessment on leaf tea and tea extract • Develop a water footprint model for tea; validate methodology through pilot assessment of leaf tea and tea extract • Develop an implementation plan for enhancing the health and well-being credentials of our product portfolio. 3-Year Plan – Health and Well-being Objectives Assess long term sustainability of current products and services Explore opportunities of how to improve the health credentials of current product portfolio where appropriate Develop criteria by which to judge future business opportunities in product development and sourcing Develop a communication plan to drive the health and well being message across Finlays Leaf Tea Trading and Extracts Business Units and suppliers and engage with external certification bodies to help drive sustainability agenda across the tea industry Monitor food safety risk in products and supply chain As a business-to-business company, we sit between producers and many of the retailers and tea packers, giving us an important role in communicating messages up and down the supply chain. 43
Page 1 and 2: Sustainability Report 2010
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Page 13 and 14: About Finlays 2.1 Corporate profile
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Page 21 and 22: About Finlays 2.3 Management approa
Page 23 and 24: Group Performance Review 2010 3.1 E
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Page 75 and 76: Governance 5.2 Legal Form and Gover
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Page 79 and 80: Appendix (ii) Performance Data Data
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Page 84: Finlays is committed to creating a

Sustainability Report 2010 - Finlays

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