MOROCCO – OCP Group, the world’s largest phosphate mining and fertilizer group, has been named as one of the top five companies leading the world towards realizing a sustainable food system under the 2021 Food and Agriculture Benchmark by the World Benchmarking Alliance (WBA).
The WBA evaluates 350 of the most prominent food and agriculture businesses in the world, assessing how these organizations are working towards a sustainable food system in the near future.
In the 2021 Food and Agriculture Benchmark, WBA made a dire conclusion, stating that “the sector is not on track in transitioning to a sustainable food system.”
This worrying assessment shows that many of the world’s largest companies that deal with one of humanity’s primary needs, food, are not doing enough to move towards a sustainable model that takes climate change and depleting resources into account.
Bucking this worrying trend are only a few large multinationals that appear to be taking the long-term perspective in changing the world.
The Morocco based OCP Group featured among the handful of companies that are making a difference to create a truly sustainable food system, coming in at number 4.
OCP Group’s efforts to transition to a sustainable food system was bested only by three of Europe’s largest multinationals i.e., Dutch FMCG giant Unilever, French dairy company Danone, and the Swiss food and drink multinational Nestle.
The WBA stated that OCP, “performs strongly in the governance and strategy measurement area, due to its sustainability strategy that includes targets on multiple topics.”
It commended OCP’s long-term targets on reducing greenhouse gas (GHG) emissions and water use.
Under its sustainability agenda, the state-owned aims to meet 100% of its electricity requirements though wind, solar and cogeneration production by 2028. Currently the firm’s 86% of its energy requirement is met by use of renewable sources and targets
As part of its water sustainability program, the company seeks to use 100% non-conventional water by 2028. This will be achieved by adapting wastewater treatment plants and desalination stations.
OCP Group’s remarkable efforts to implement a holistic long-term approach toward sustainable food systems enabled it to perform better than all US companies, including iconic companies such as Pepsico, Kellog’s, and Coca Cola Group.
Yet, the outstanding performance of Morocco’s fertilizer giant becomes more apparent when comparing its score with that of its closest competitors.
Among OCP’s direct competitors is Norwegian chemical company Yara International, ranked 36th in the list.
Canadian fertilizer company Nutrien was next, sharing 65th place with vegetable oil company Fuji Oil Holdings. Russia’s PhosAgro, one of OCP’s largest competitors, took the 80th spot.
A sustainable food system requires people to have food security and proper nutrition, produced in a way that does not exhaust the planet’s resources, leaving future generations in distress.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE