Olam Food Ingredients unveils 2030 targets

Firm aims to boost farm productivity and reduce scope 3 emissions.

Olam Food Ingredients (ofi) has launched a new set of social and environmental targets for 2030 as it looks to strengthen its global supply chains.

Ofi said its latest sustainability strategy dubbed “Choices for Change” stands on four critical pillars of prosperous farmers, thriving communities, climate action and regenerating the living world.

Chief among its 2030 targets were to deliver livelihood support to one million farmers to boost their productivity and deliver quality ingredients and to cut scope 3 emissions by 30%. To build long-term supply chain resiliency, the firm also aims to bring two million hectares of land under regenerative farming practices.

A new operating group of Olam Group, ofi provides natural, value-added food products and ingredients including cocoa, coffee, dairy, nuts and spices.

In March, ofi bagged a US$500m (approximately S$665m) financing deal backed by Italian export credit agency SACE.

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