Ferrero Group's Sustainability Progress: Commitment and Impact
Ferrero Group's Commitment to Sustainability
The Ferrero Group has recently unveiled its 16th Sustainability Report, marking an important milestone in its commitment to sustainability. The report outlines the continued progress made in key sustainability initiatives that reflect the company's dedication to making a positive impact throughout its entire value chain.
Core Principles of Sustainability in Ferrero
Giovanni Ferrero, the Executive Chairman, emphasizes that sustainability is not just a part of Ferrero’s mission but is deeply integrated into its business strategy. This commitment is vital amid the global challenges we face, particularly climate change. The Ferrero Group is determined to innovate in ways that protect our environment for future generations, supported by collective action and continuous learning.
Ongoing Progress and Goals
Lapo Civiletti, the Chief Executive Officer of Ferrero Group, highlights steady advancements towards the company's long-term goals during the fiscal year 2023/2024. Noteworthy areas include efforts to improve traceability of key ingredients, enhance visibility across supply chains, and actively promote human rights. A significant focus remains on strategies to decarbonize operations company-wide.
Traceability and Ingredient Sourcing
Ferrero's Sustainability Report showcases impressive strides in ingredient traceability, with over 90% of key ingredients now mapped to their origins. Collaboration with partners like Sourcemap and Starling has been instrumental in achieving high levels of transparency, securing a remarkable 97% traceability for both cocoa and palm oil, and 94% for hazelnuts.
Reducing Greenhouse Gas Emissions
In line with its environmental goals, Ferrero aims to halve its greenhouse gas emissions by 2030. Early achievements indicate that the company has successfully reduced Scope 1 and 2 emissions by 21.7%, with ongoing efforts to enhance carbon accounting accuracy. Furthermore, 90% of electricity used in manufacturing and warehousing is now sourced from renewable energy.
Innovative Packaging Solutions
Ferrero remains steadfast in its goal for sustainable packaging, with 92.1% of its packaging now designed to be recyclable. The drive to minimize virgin plastic usage has resulted in a 13% reduction in the plastic-to-product ratio. Recent changes include converting Ferrero Rocher packaging in North America and China, significantly reducing plastic use by around 11,000 tonnes.
Health and Safety Initiatives
Health and safety remain a top priority at Ferrero, with all plants achieving certification against the Global Food Safety Initiative (GFSI) Standard. The company continues to focus on responsible consumption, ensuring that 85% of marketed volumes have a serving size of 130 kcal or less, promoting healthier choices among consumers.
Engaging with Communities
Ferrero also emphasizes empowerment through community engagement. Partnerships with organizations like the International Labour Organization (ILO) and Save the Children have positively impacted sourcing communities. Notably, the Kinder Joy of Moving initiative has reached over 3.7 million children across 35 countries, with significant investments aimed at promoting inclusion and access to rights through sports and activities.
Frequently Asked Questions
What does Ferrero Group's Sustainability Report highlight?
The report showcases Ferrero's continued progress in sustainability initiatives, emphasizing ingredient traceability, environmental goals, and community engagement.
How is Ferrero addressing climate change?
The company focuses on reducing greenhouse gas emissions, sourcing renewable energy, and maintaining sustainable packaging practices.
What partnerships does Ferrero have for sustainability?
Ferrero collaborates with organizations like Sourcemap, Starling, and various NGOs to enhance sustainability across its supply chains and community programs.
What are Ferrero's packaging goals?
Ferrero aims for over 90% of its packaging to be recyclable, reusable, or compostable, making significant strides in reducing plastic use.
How does Ferrero promote responsible consumption?
The company focuses on providing clearly defined serving sizes, ensuring most of its marketed products are low in calories to foster healthier eating habits.
About The Author
Contact Ryan Hughes privately here. Or send an email with ATTN: Ryan Hughes as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.