I believe that in the 21st Century, companies must serve two roles equally well. We must deliver long term and lasting value for our continuing shareholders, while at the same time being a positive force for sustainable change in the communities and contexts in which we operate. Our sustainability philosophy has evolved over the years and today rests on an “ethic of mutuality”. In this model of mutuality we ask ourselves two questions before we proceed with any new sustainability initiative:
Is there deep company expertise and the right configuration of assets and capabilities to make a significant impact on a particular sustainability initiative?
Does the proposed activity have mutual reciprocal value for both the company and the community?
As of today we have established 110 initiatives, unlocking mutual value for 1.5 million farmers in 30 countries.
We also believe that developing an Olam brand of sustainability and making this a core value proposition for our customers would be a key way in which we will differentiate ourselves. We are united in our ambition to seize this unique opportunity to set the pace and tone for sustainability leadership in our field. We are building an end-to-end platform – “The Olam Sustainability Standard”. This Standard will ensure our value chain from the field to the store improves livelihoods in emerging economies; carefully manages our use of natural resources; guarantees traceability and safety of products through our Responsible Sourcing Guidelines and ensures our staff have a safe workplace.