Aliging Profit with Purpose - Global Goals Yearbook 2019

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HOW A NEW WAY TO GROW COFFEE CAN BEAR FRUIT “We can better provide for our families all year round thanks to Olam encouraging us to grow other fruit trees, like avocado, durian, and jackfruit, on our coffee farms.” — Le Hong Huong, coffee farmer, Dak Lak, Vietnam By Michael Lackner, Olam International 146 Global Goals Yearbook 2019
Grabbing a cup of coffee on the way to the office is a daily – even essential – ritual for many of us. But for smallholder farmers such as Le Hong Huong, coffee is his living. It pays for the roof over his family’s head, the food on their plates, and an education for his children. However, current climate trends are putting this at risk. For Le Hong Huong and the 25 million smallholder farmers like him who produce four out of five cups of coffee around the world, rising global temperatures are lowering the amount and quality of what they can harvest. Plus, farmers facing less “buck for their beans” because of historically low coffee prices will only make that worse. Working alongside around 445,000 of those farmers, however, we have found ways to make them more resilient to such challenges. As one of the leading green coffee origin exporters in the world sourcing beans from across Africa, Asia, and South America, Olam is in a good position to work with smallholder farmers to ensure they continue to invest in coffee in an increasingly unpredictable world. Helping coffee farmers manage climate change It is essential we provide them with everything they need to boost production and quality in a way that is good for them, the planet, and consumers. Take Dak Lak province in Vietnam – here farmers are trained to intercrop their coffee farms with high-value >> OUR SUSTAINABILITY FRAMEWORK At Olam, our business strategy and our sustainability strategy is combined into one. In 2017 after extensive internal and external consultations with our key stakeholders, we redefined our Purpose as ‘Re-imagining Global Agriculture: Growing Responsibly’. In 2018, as we refreshed our strategy for the next 6 years, we have re-articulated our Purpose to ‘Re-imagining Global Agriculture and Food Systems’. By this we mean how we, as a company, can help produce more food, feed and fibre with significantly fewer resources, reduce food waste, enhance biodiversity, tackle climate change and transform farmer livelihoods. In our new CR&S Framework, we have linked our Purpose to the 3 outcomes we want to generate, the 10 material areas that we will focus on, the impact of each on specific UN SDGs3 and the various policies and standards that will underpin our actions. Purpose Re-imagining Global Agriculture and Food Systems Purpose Outcomes Prosperous Farmers Thriving Communities Regeneration of the Living World and Food Systems Material Areas Impact on UN SDGs Economic Safe and Opportunity Decent Work Education and Skills Health and Nutrition Diversity and Inclusion Climate Action Healthy Healthy Eco-systems Soils Water Reduced Waste Enablers Policies Standards Farmers Plantations Suppliers Factories and worksites Health and Safety Quality and Food Safety Labour Living Landscapes Olam Livelihood Charter Olam Plantations, Concessions and Farms Code Supplier Code QEHS Standards Global Goals Yearbook 2019 147
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GLOBAL GOALS GLOBAL GOALS YEARBOOK
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H.E. António Guterres We have glob
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GOOD PRACTICE 40 Financing Common P
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EXECUTIVE SUMMARY The rules for com
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Global Goals Yearbook 2019 11
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PROFIT & PURPOSE John Elkington Fou
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PROFIT & PURPOSE How, then, does a
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PROFIT & PURPOSE Alphabet. How thes
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PROFIT & PURPOSE Professor Colin Ma
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PROFIT & PURPOSE ticularly relevant
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PROFIT & PURPOSE their neighbors, t
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QUEST FOR TALENTS “Talented peopl
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QUEST FOR TALENTS The Deloitte 2017
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Aliging Profit with Purpose - Global Goals Yearbook 2019

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