Press release
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.”
Press release
9th Nov, 2021
Olam to launch GreenPass, an end-to-end smart carbon management platform to help companies develop their climate action strategies in their de-carbonisation journey towards Net Zero
Singapore
GreenPass1 as a GHG digital information and smart carbon management system will enable companies to measure, monitor, manage/abate and verify the impact of their climate action strategies as they de-carbonise their business.
Born out of the Emerging Stronger Taskforce’s (EST) Alliance for Action on Sustainability, it aligns with the Monetary Authority of Singapore’s (MAS) Project Greenprint to support the financial sector’s sustainability agenda
The platform has been developed and tested in-house and is now being made available externally to businesses across a wide range of industries/sectors
Olam International, a leading global agri-business, is set to launch a new venture, GreenPass1 to enable companies to better measure and manage their carbon emissions across their operations and their supply chains including Scope 3 emissions. The digital platform has been developed internally by Olam leveraging its deep expertise and capabilities in sustainability, dig
News
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
News
1st Oct, 2020
How a ‘Coffee Data Shop’ is helping Reimagine Sustainability
With young people in coffee taking the spotlight for this year’s International Coffee Day, how can roasters, brands and retailers be confident that their beans are contributing to a sector that nurtures the next generation of farmers?
As one of the leading green coffee exporters in the world and part of Olam Food Ingredients (OFI), Olam Coffee is already driving transparency and action through its revolutionary insights platform, AtSource. So for customers wanting to buy sustainable coffee – as well as cocoa, cashew and spices – this translates into…
Blog
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.
Blog
4th May, 2021
Our progress towards tackling deforestation in cocoa
Forests are vital to sustainable cocoa production. Not only do they help to improve biodiversity and mitigate against climate change, they also help to improve cocoa yields and raise farmer incomes. By improving tree cover, cocoa farmers can increase the yields and life expectancy of their cocoa trees and generate additional income from more diverse crops.
The benefits of forest protection and restoration are clear, but we also need to create the right economic incentives. When farmers have struggled to earn a living income from their cocoa smallholdings, they have often resorted to clearing more land. Together with our customers, national governments and NGO partners, we’re working to change that.
We are proud to be a dedicated partner of the Cocoa & Forests Initiative (CFI), a joint initiative between the governments of Côte d’Ivoire and Ghana and leading cocoa and chocolate companies which aims end deforestation in the cocoa supply chain. Today, we’re publishing our Annual CFI
