Olam Agri joins global initiatives for sustainable agriculture at COP28

NIGERIA – In a move towards fostering sustainable agriculture, Olam Agri has recently announced its participation in two new global initiatives aimed at transforming the agricultural landscape.

The company, committed to a more sustainable future, is set to collaborate with major value chain partners, financial institutions, and governments to drive the decarbonization of supply chains and promote regenerative agriculture.

The Chief Sustainability Officer at Olam Agri, Julie Greene, emphasized the importance of partnerships and collaborations in the agricultural transformation.

“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,” Greene stated.

The initiatives were unveiled at the 28th Conference of the Parties (COP28), with Olam Agri becoming a key player in both:

COP28 Action Agenda on Regenerative Landscapes led by the COP28 Presidency, the World Business Council for Sustainable Development (WBCSD), and the Boston Consulting Group (BCG).

Supported by the UN High-Level Climate Champions (HLCC), the initiative aims to accelerate the transition to regenerative agriculture practices, positively impacting the sustainability and resilience of food and agricultural systems.

Olam Agri has joined over 20 corporate and research partners in the World Economic Forum’s First Movers Coalition for Food in First Movers Coalition for Food initiative.

Supported by the Government of the United Arab Emirates, the initiative seeks to create aggregated market demand for sustainably produced and low-emission agricultural commodities, potentially reaching a value of US$20 billion.

In addition to these new initiatives, Olam Agri continues its commitment to existing industry projects.

The Sustainable Markets Initiative’s Agribusiness Task Force has introduced a blended finance framework to unlock financing for regenerative agriculture, and the Agriculture Sector Roadmap to 1.5°C has delivered the Soy Sector Roadmap to halt deforestation in high-priority biomes.

Notably, Olam Agri has pledged to achieve a Science-Based Target initiative-validated target of net zero by 2050, further solidifying its dedication to advancing regenerative agriculture in its direct supply chains and own farms.

This announcement comes on the heels of Olam Agri being honoured as the best company in health, safety, and environmental (HSE) management at the Corporate Awards, a prestigious Pan-African human resource management program.

The ceremony, held on December 1, 2023, in Douala, recognized Olam Agri’s exceptional performance in health, safety, and environmental management.

Rishiraj Singh Shekhawat, Vice President and Business Head for Olam Agri’s Rice business in Cameroon, expressed gratitude for the award, emphasizing the commitment to health, safety, and environmental practices across the company’s value chain.

“Olam Agri is determined to continue building a safe, healthy, and inclusive environment for its workforce while setting high standards for HSE in the industry,” he said.

Bisong John, Olam Agri HSE Manager in Cameroon, highlighted the significance of the awards as benchmarks guiding the company’s success and future enhancements.

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