30th Aug, 2022
ofi secures inaugural US$1,975 million sustainability-linked loan
Singapore olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, announced today that it has secured a multi-tranche sustainability-linked facility aggregating US$1,975 million (the “Facility”). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group Limited “Olam Group”) to unlock and maximize its long-term value. Rishi Kalra, Executive Director and Group CFO of ofi said: “At ofi, sustainability is at the heart our operations. This Facility is fully aligned with ofi’s growth strategy to deliver sustainable, natural, value-added food and beverage ingredients and solutions through a diverse channel mix, to customers across the globe.” The Facility has Olam Holdings B.V. as a Borrower. The Facility is initially guaranteed by Olam Group which will transfer to ofi Group Limited post the planned IPO and demerger of ofi. Proceeds from the
9th Jun, 2022
Olam launches climate-tech venture Terrascope to enable enterprises to achieve their Net Zero ambitions
Terrascope’s smart carbon management platform offers GHG measurements which are on average five times faster and show 25% improvement in data confidence Commercial trials across four industry sectors and 15 countries measured over 230 million metric tonnes of GHG emissions Singapore Olam has launched its climate-tech venture Terrascope to empower companies to accurately and efficiently manage and reduce their carbon emissions. Since the beginning of its commercial trials, Terrascope has measured over 230 million metric tonnes of Greenhouse Gas (GHG) emissions for companies from industry sectors with complex supply chains – Food & Beverage, Agriculture, Real Estate, and Consumer Goods – across 15 countries. Current commercial trials are underway with businesses across diverse industries and sectors in the UK, France, Indonesia, Japan, Malaysia and Singapore. Terrascope’s platform is an Enterprise-grade Software as a Service (SaaS) powered by Data Science and Machi
1st Dec, 2021
Olam secures US$150 million loan to purchase sustainable cotton under the Better Cotton Initiative
Singapore Leading global food and agri-business Olam International Limited (“Olam’’) has secured a financing facility (“the Facility”) linked to the procurement of sustainable cotton under the Better Cotton Initiative (“BCI”). Aggregating US$150 million, the Facility has a 2-year tenor and has Olam Treasury Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as co-borrowers. Proceeds from the Facility will be used for procurement of sustainable cotton licensed by BCI. N Muthukumar, Group CFO of Olam, said: “Olam continues to re-imagine what sustainable financing can look like through innovative, purpose-driven initiatives that have the strong support of our banking partners. This Facility supports Olam’s procurement of sustainable cotton via the Better Cotton Initiative, while combining Olam’s operational ability, leadership position in cotton and sustainability focus with the banks’ objective of supporting more financing linked to sustainable activities.”
6th Oct, 2020
Does Your Sustainability Reporting Start At The Source?
Sustainability reporting requires a lot of work, and it's only going to get more difficult over time as communities expect more from businesses and businesses demand more from themselves. That's where AtSource comes in, and why it's always getting better. AtSource CEO Roel Van Poppel explains… The sustainability challenges facing our world and the efforts to meet them are immense. A variety of entities monitor and rate the activities of large businesses, including those in the food and agri-business industries. In fact, because their supply chains touch the farthest, most remote, and often the poorest communities on the planet, much is expected from them concerning how their operations impact and improve health, environmental, financial, and social well-being. Read more
5th May, 2021
Greater urgency and partnership are needed to kick-start a smallholder farmer recovery stuck on pause
The tidal impact of COVID-19 has resulted in humanitarian and economic consequences that have been felt across the globe. The progress made against the Sustainable Development Goals, particularly towards no poverty and zero hunger, has been seriously hampered since the pandemic took hold over one year ago. Hard-won gains such as reducing childhood stunting actually stand to be reversed. An Olam-conducted survey of over 3,400 farmers across 19 countries has shown the impact smallholder farmers have seen to their incomes, livelihoods and their communities as changes and disruptions have been felt across global food and agricultural supply chains. Read the article by Julie Greene, Vice President of Corporate Responsibility & Sustainability, on Agri-Pulse and read our Farmer Barometer report here.