SINGAPORE
,
December 11, 2023
(press release)
–
Olam Agri has joined two new global initiatives to make agriculture more sustainable. The initiatives bring together major value chain partners, financial institutions and governments to decarbonise supply chains and promote the adoption of regenerative agriculture, aligned with Olam Agri’s purpose to transform agriculture for a more sustainable future. Strong partnerships and collaborations are a must as we transform agriculture. By supporting industry-wide solutions, we want to make sustainably grown crops a reality for farmers and consumers everywhere. These partnerships elevate our impact on the climate, nature and livelihoods. The new initiatives were announced at the 28th Conference of the Parties (COP28): COP28 Action Agenda on Regenerative Landscapes: This flagship initiative is led by the COP28 Presidency, the World Business Council for Sustainable Development (WBCSD) and the Boston Consulting Group (BCG) and supported by the UN High Level Climate Champions (HLCC). Olam Agri has joined this initiative to accelerate the transition to regenerative agriculture practices and positively impact the sustainability and resilience of food and agricultural systems. More details here. First Movers Coalition for Food: Olam Agri is among more than 20 corporate and research partners that are part of the World Economic Forum's pioneering First Movers Coalition for Food, supported by the Government of the United Arab Emirates. The initiative will create aggregated market demand for sustainably produced and low-emission agricultural commodities that could amount up to $20B in value. More details here. In addition, Olam Agri continues to progress on existing industry initiatives. The Sustainable Markets Initiative’s Agribusiness Task Force has launched a new blended finance framework to unlock financing for regenerative agriculture, and the Agriculture Sector Roadmap to 1.5°C has delivered Soy Sector Roadmap to halt deforestation in high priority biomes. Olam Agri has committed to a Science-Based Target initiative-validated target of net zero by 2050, and to advance regenerative agriculture in our direct supply chains and own farms.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
