MAKING STRONG PROGRESS: FERRERO GROUP ON TRACK TO MEET KEY SUSTAINABILITY TARGETS
LUXEMBOURG, June 21, 2023 /PRNewswire/ -- Ferrero Group has today announced it is on track to meet its key sustainability objectives and targets. Ferrero's progress is documented in the Group's 14th Sustainability Report, which highlights the steps taken during the 2021/22 financial year on four key pillars: protecting the environment, sustainable sourcing, promoting responsible consumption and empowering people.
"The financial year was particularly challenging - war broke out, supply chains were disrupted, energy costs surged, and inflation grew alongside the cost of raw materials," said Giovanni Ferrero, Executive Chairman of the Ferrero Group. "In the face of these challenges, Ferrero has not only been able to grow, but to also make strong progress with a number of our sustainability targets – and, in some instances, exceed them," he added.
As part of Ferrero Farming Values (FFV), a cross-commodity framework, the Group is committed to supporting and improving sustainable sourcing of its ingredients, as well as sharing knowledge across the value chain. In 2021/22, the FFV programme helped deliver one to one coaching to 32% of cocoa farmers on farm and business planning, whilst 155,000 cocoa farmers took part in group training. The sustainability report also details how the Group is now reaching traceability back to farm level across more than 96% of its cocoa supply volume. In addition, 82% of the entire cocoa volume was sourced from dedicated farmer groups Ferrero supports. Across all sourced hazelnuts, the Group can report overall traceability of 79% despite systemic supply-chain complexities.
Other highlights from the Ferrero Group's Sustainability Progress Report include:
- 92% of the company's global electricity now comes from renewables – up from 84% last year.
- 100% of palm oil is RSPO certified segregated, with 99.95% traceable to 146 palm oil mills and 722 plantations. The segregation model ensures sustainable palm oil is kept separate from the plantations and farms, and all the way along the supply chain, with the Group being one of the first global companies to source 100% RSPO certified segregated palm oil (since 2015).
- The completion of Ferrero's four-year Cocoa and Forest Initiative (CFI) plan, with majority of targets either met or even surpassed, including more than 170,000 farmers now enlisted in the Ferrero Cocoa Program, of which 161,000 (95%) were polygon mapped in 2021/22, exceeding the initial target of 153,000.
- The publishing of the company's first Human Rights Report at the end of 2021. The report is framed around 10 of the most salient human rights issues across all value chains – regardless of product or geography – and shows how Ferrero is working to address these issues.
"Across each of the four key pillars of our sustainability framework, the report shows we have made strong progress towards the objectives we have set ourselves," said Lapo Civiletti, Chief Executive Officer of the Ferrero Group. "Despite a challenging economic and geopolitical environment, the Group increased investments to continue to ensure high levels of quality, freshness and safety across all our products, while reducing our environmental impact."
You can read more about Ferrero's Sustainability Report here.
About Ferrero Group
Ferrero began its journey in the small town of Alba in Piedmont, Italy, in 1946. Today, it is one of the world's largest sweet-packaged food companies, with over 35 iconic brands sold in more than 170 countries. The Ferrero Group brings joy to people around the world with much-loved treats and snacks including Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher®. More than 38,000 employees are passionate about helping people celebrate life's special moments. The Ferrero Group's family culture, now in its third generation, is based on dedication to quality and excellence, heritage and a commitment to the planet and communities in which we operate.
For more information visit Ferrero.com
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