2019 Theo Impact Report

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mission, purpose & values Theo Chocolate was founded in 2005 to create a positive impact through chocolate. We are committed to making high quality chocolate, ensuring everyone who touches the business thrives. In this report, we dive deep into partnerships with our most important stakeholders: cocoa farmers and Theo employees. At Theo, our Mission, Purpose and Values help guide our decision making. Our Values were created by Theo employees in 2017. MISSION: As a company rooted in cocoa, our mission is to create a more beautiful, compassionate, and enduring world by responsibly making delicious and inspiring products for everyone. PURPOSE: We invite people to discover a better world through chocolate. VALUES: Community We cultivate relationships that create a safe, supportive, and engaging workplace. Honesty We are honest about our products, practices, and challenges. Excellence We are passionate about doing our best as individuals and as a team. Well-being We make choices that nurture the health and well-being of our employees, partners, and planet. Hear directly from Theo employees about our Values at https://theochocolate.com/careers 4
ethical sourcing Ethical sourcing is core to who Theo is as a company. We source organic and fair trade ingredients whenever available and possible, and prioritize purchasing from small holder farmers. We partner fairly with cocoa and ingredient sourcing partners to pay them living incomes, with the goal of supporting thriving and resilient communities. Theo sources fair trade cocoa from outside the conventional cocoa growing industry to retain full visibility into our sourcing. The conventional cocoa growing industry still faces ethical challenges including poverty wages for cocoa farmers and the use of forced child labor. At Theo, we strive to show cocoa can be purchased in a different way that allows everyone to benefit. We do this because we believe fairness and well-being should be for all, not only for some. Since Theo’s founding, we have sourced 10,000 metric tons of organic and fair trade cocoa from 10 different countries across Central America, South America and Africa. That volume could fill 5 miles of semi-trucks, end-to-end, with cocoa beans. history of eastern Congo cocoa Theo began purchasing cocoa beans from the Democratic Republic of Congo (DRC) in 2012 by partnering with Eastern Congo Initiative (a NGO), our trading partner ESCO Kivu, and smallholder farmers in Eastern Democratic Republic of Congo. People in Eastern Congo have lived through years of conflict and violence, compounded by low access to health care and government infrastructure. Investing to develop a militia-proof crop has supported stable economic development, as farmers now return to their land after times of heightened insecurity. Theo partnered with ESCO Kivu and cocoa farmers to invest over $800,000 in infrastructure, cocoa capacity projects, and direct payments to farmers which supported increasing quality and yield. This specifically funded the distribution of cocoa fermentation boxes, farmer training along with post-fermentation infrastructure. The partnership has developed Watalinga, Eastern Congo into a successful organic cocoa growing region, bringing benefits to the farmers and community. 5
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Page 3: executive statement To Our Stakehol
Page 7 and 8: 2019 PRICE PER METRIC TON OF COCOA
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Page 11 and 12: Over the past year, significant cha
Page 13 and 14: PACKAGING In 2019, we initiated a p
Page 15: key performance indicator & action

2019 Theo Impact Report

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