Ferrero unveils palm oil charter

The Ferrero Group has unveiled its updated Palm Oil charter report which outlines the the company’s commitment to a responsible palm oil supply chain. 

By updating its targets, which were set in 2013, the new charter addresses challenges with actions that engage suppliers and go beyond high certification standards. 

According to the company. the new charter, which has been developed in collaboration with NGO Earthworm Foundation, strengthens its commitments and progress which has been elevated based on its ongoing learning journey and insights generated by close collaboration with stakeholders, from suppliers to NGOs through to academic partners. 

As a baseline, Ferrero sources sustainable palm oil that is 100 per cent Roundtable on Sustainable Palm Oil Certified Segregated and traceable back to plantations: a goal initially reached in 2015, becoming one of the first global companies to do so. 

As part of the new charter, Ferrero has outlined further actions to tackle three strategic areas, in which environmental and social issues are oftentimes deeply rooted, complex, and interconnected. 

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These areas include human rights and social practices, environmental protection and supplier transparency. 

Moreover, following recent acquisitions, Ferrero has welcomed new products into the group’s portfolio and is currently working to integrate them into the supply chain by bringing them up to the Company’s overall responsible palm oil sourcing standards

“At Ferrero, we take a continuous improvement approach to our value chain and understand the environmental and societal challenges tied to the palm oil industry; this is why we proudly reaffirm our commitments to responsible palm oil sourcing through our new charter,” Ferrero’s chief procurement officer and hazulnut company officer said. 

“We look forward to continue our learning journey and go beyond high certification standards with concrete actions that contribute to a more sustainable industry.”

FMCGSustainability

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