ofi’s Carbon Scenario Planner (CSP), a new digital tool developed to help food and beverage manufacturers model the impact of different scenarios for reducing greenhouse gas emissions, has won the 2023 Sustainability Innovation Award at Food Ingredients Europe in Frankfurt. This is the second year in a row that ofi has been awarded this prestigious recognition, following last year’s award for its Cocoa COMPASS sustainability strategy.
The CSP allows ofi to model the outcome of different decarbonization interventions tailored to local contexts, so it can work with its customers to plan and cost out climate actions. It helps ofi customers tackle the complex and challenging issue of Scope 3 emissions which occur in a company’s value chain and make up the bulk of the food and beverage industry’s carbon footprint.
Dr Christopher Stewart, Global Head of Sustainability at ofi, said: “We’re delighted that Food Ingredients Europe has chosen to recognize the progress we’ve made. For our customers, knowing where carbon emissions are coming from in their supply chains is critical to understanding how to reduce them cost-effectively, and meet science-based climate targets. The Carbon Scenario Planner translates ideas into detailed, robustly modelled scenarios that can deliver long-term greenhouse gas reductions.”
The tool is embedded into ofi’s sustainability management system AtSource, which provides customers with data and insights for use in reporting their environmental, social, and economic impacts. ofi recently used the tool with a global coffee company to whom it supplies Guatemalan coffee beans. It modelled a 32 percent carbon reduction scenario to help support the customer’s climate commitments, identifying three impactful scenarios: using training for farmers to help them upcycle coffee waste, replacing chemical fertilizer with organic, and providing farmers with semi-mechanized tools to improve yields.
olam food ingredients (“ofi”) is a new operating group born out of Olam. 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.
About Olam Group
Olam Group 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 global network of farmers. By re-imagining global agriculture and food systems, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving a 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 Group 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.