ofi supports the plant-based revolution with new almond sustainability targets
olam food ingredients (ofi), a global leader in natural and sustainable food and beverage ingredients, and its almond business have developed its first public sustainability targets for its 50,000 acres of almond orchards and farming operations in Australia and the US.
As plant-based diets move into the mainstream, almonds are a popular ingredient in everything from protein powders to nut butters for plant-based recipes. But eco-conscious consumers
want to know their almond products are having a positive impact on the people and environment they come from.
Ashok Krishen, CEO of ofi**’s nuts platform said:**
“At every stage, from plant to palate, we aim to delight consumers while supporting our purpose to be the change for good food and a healthy future. As one of the world's largest almond growers, we’ve long invested in sustainable practices across some of our almond farming operations, like state-of-the-art irrigation and bee-friendly habitats. Now, we are seeking to deliver even more transparency and impact by setting public targets and sharing our data and insights.
“Customers can use ofi’s almonds, processed in our manufacturing facilities across the US, Australia and Vietnam, with our other sustainably-sourced ingredients to create customized products. From chocolate coated almonds made with ofi sourced cocoa, to almond milk lattes made with organic coffee and spices, we can work with customers to create natural, delicious, and sustainable products with our ingredients.”
Almond Trail sets out ambitious targets for water stewardship, carbon reduction and support for communities and ecosystems, including a commitment to reduce emissions in line with achieving a 1.5˚C pathway.
By 2030, ofi is committing to a broad range of almond-related targets1, including:
Increase our irrigation distribution uniformity to 90%+ on all orchards2
Reduce absolute scope 1 and 2 GHG emissions in line with achieving a 1.5˚C pathway
Offset 75% of total energy demand by purchasing renewable energy
Achieve Bee Friendly certification across 100% of almond orchards
Achieve annual cover cropping in 75% of all orchards.
Burcu Turkay, Global Sustainability Manager of ofi**’s nuts platform said:**
“Innovation will be key to achieving these goals by using smart tech to track everything from tree growth to soil health. We’re working with several university partners to explore new research opportunities. For example, we’re looking at the potential of artificial intelligence in making data-driven decisions to optimize fertilization and water use.
“We’re also using technology to measure our impact. We will track sustainability data through our insights platform, AtSource3, helping us to monitor our progress and provide customers with a single view of their supply chain sustainability. For instance, in 2020 we launched a trial, called “More Crop per Drop”, to better understand the behavior of almond trees under different conditions. Using technology like this is helping the team in Australia reduce their water footprint, which is conveyed to customers on the AtSource Plus dashboard.”
Fiona Chambers, CEO of The Wheen Bee Foundation in Australia said:
“We applaud ofi’s public recognition of the important role bees and other insects play in almond production, and the company’s dedication to creating healthy ecosystems and improving diversity. The certification of 100% of its farms with the Bee Friendly Farming program would set a new standard for the almond industry, and other pollinator-reliant sectors across agriculture.
ofi has shown great leadership in its commitment to increasing pollinator habitats and foraging crops, and balancing the risks related to pest management with pollinator welfare front of mind, as part of its 2030 goals. The company’s partnerships with universities, almond boards and other related organizations will ensure best-practice pollinator management techniques are employed across the supply chain.
1 These targets apply to ofi orchard volumes
2 *Our baseline is 80% irrigation distribution uniformity.
3 AtSource is ofi’s sustainability insights platform, powered by a comprehensive suite of data and metrics to report on the social and environmental impact of almonds, as well as other ingredients, across the entire value chain. There are three tiers of data with increasing granularity for customers’ to choose from, based on their sustainability management requirements.
About ofi
olam food ingredients (“ofi”) was created in early 2020 following the announcement of the re-organisation within Olam International Limited (“Olam”) to unlock and maximise its long-term value. ofi intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices. ofi has built a unique global value chain presence including its own farming operations, farm-gate origination, and manufacturing facilities. ofi partners with customers, leveraging its complementary and differentiated portfolio of ‘on-trend’ food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.
To subscribe to the ofi newsroom and for more information on ofi please visit www.ofi.com
Follow @ofi-group
About olam
Olam is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,900 customers worldwide. Its value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of an estimated 5 million farmers. Through our purpose to “Re-imagine Global Agriculture and Food Systems, Olam aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders.
Headquartered and listed in Singapore, Olam currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST.
Since June 2020, Olam has been included in the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds.
More information on Olam can be found at www.olamgroup.com.
Follow @olam
This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, South Africa, Japan or any other jurisdiction and the securities referred to herein have not been registered under the securities laws of any such jurisdiction. The ordinary shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold, directly or indirectly, in the United States, absent registration under or an exemption from, or transaction not subject to, the registration requirements of, the Securities Act. No public offering of securities is being made in the United States or in any other jurisdiction.