Ferrero publishes latest transparency lists of palm oil supply sources
Ferrero has revealed the latest in its lists of published palm oil suppliers, further underlining its commitment to sustainable sourcing practices, writes Neill Barston.
As the company explained, traceability and transparency have always been a fundamental element in Ferrero’s approach to responsible palm oil sourcing.
Since 2018, the business has published twice yearly, the latest list of mills and plantations from which it procures its palm oil, which is used in a number of its confectionery series.
The company has continued to work with a number of key suppliers, including AAK, Cargill, Fuji Oil and Olam among others, as it continues to prioritise its sourcing policies.
However, environmental campaigners have continued to raise concerns over the wider industry’s use of palm oil, raising fears over threats to wildlife and wider habitats, which industry experts believe can be overcome with education and instituting farming best practices.
Consequently, the Italian-founded confectionery company was in overall second place of 227 international businesses, scoring 21.7 out of 24 in a WWF palm oil annual review, which examined corporate commitments, transparency and purchasing patterns.
Furthermore, Ferrero’s additional initiatives have reportedly been guided by three key areas outlined with its latest Palm Oil Charter: human rights & social practices, environmental protection and sustainability, and supplier transparency. This has been underlined by its membership of POIG (Palm Oil Innovation Group) and HCSA (High Carbon Stock Approach).
By combining both Ferrero and acquired products, between January and June 2021, the business reported that it has sourced 99.47% of RSPO (Roundtable on Sustainable Palm Oil) Certified Segregated palm oil and 0.53% conventional palm oil.
Of this total, 99.40 % is traceable back to plantations. Our responsible approach means that we continue to be committed to a “no-deforestation” supply chain and to source sustainable palm oil that is 100% RSPO Certified Segregated and traceable back to plantations.
It added that it maintains a continuous improvement approach of our value chain and go beyond this already high certification requirement with initiatives that are driven by our Palm Oil Charter.
As a next step in the company’s palm oil transparency commitment, in 2022, it added that it will publish a yearly Progress Report, including outlining the challenges faced in attaining its charter goals.
