Olam Food Ingredients (OFI), a prominent global player in the realm of food and beverage ingredients, is making significant strides in its pursuit of sustainable cocoa production through the innovative utilization of data and technology. In its latest report, OFI's Cocoa Compass highlights various developments driven by advancements in data analytics and technology, propelling progress towards its sustainability objectives.

One notable achievement outlined in the report is the revelation that over 30,168 farmers within OFI's cocoa supply chain are now earning a living income, marking a substantial step towards the company's ambitious target of ensuring 150,000 cocoa farmers achieve this goal by 2030. Additionally, there has been a remarkable 395% increase in the number of children receiving educational support compared to the 2018 baseline, reflecting OFI's commitment to combatting child labor in cocoa-producing regions. Furthermore, OFI has expanded its Child Labor Monitoring and Remediation System (CLMRS), now covering a 15% increase in households, further solidifying its efforts in this crucial area.

The company's commitment to environmental stewardship is evident in its distribution of 6 million trees for agroforestry and income diversification between 2018 and 2022. Moreover, 79% of farms participating in OFI's sustainability programs have been meticulously mapped, enhancing traceability and transparency throughout the supply chain.

OFI's collaboration with partners like the United States Agency for International Development (USAID) underscores its dedication to fostering sustainable agricultural practices. Through initiatives focused on crop diversification and sustainable land management, these partnerships aim to bolster the resilience of cocoa farmers against climate shocks while simultaneously improving their livelihoods.

Crucial to the success of these endeavors is OFI's investment in cutting-edge technology, particularly its sustainability management system, AtSource. This technology empowers customers with comprehensive data and insights into the sourcing of cocoa and other OFI ingredients, including their social and environmental impact. Noteworthy advancements include a Carbon Stock Monitoring and Measurement tool, a Carbon Scenario Planner, and an updated Cocoa Farmer Income Tool, all geared towards enhancing transparency and facilitating informed decision-making.

Tejinder Singh Saraon, Managing Director & CEO of OFI Cocoa, underscores the significance of data granularity and on-the-ground presence in driving meaningful change. He acknowledges the challenges facing cocoa farmers and the natural world but expresses pride in the collective impact achieved through collaboration with stakeholders.

Launched in 2019, OFI's Cocoa Compass initiative has been instrumental in driving sustainable practices within the cocoa industry. As the company prepares to unveil a refreshed ambition later in 2024, incorporating insights gleaned over the past five years, it reaffirms its commitment to sustainability and aligning with the United Nations Sustainable Development Goals (UNSDGs).