The recognition underscores the company’s commitments and actions to “go beyond” already high certification standards, as evidenced by a Palm Oil Action Plan also released today
Today, the World Wildlife Fund (WWF) released the 2021 edition of its Palm Oil Buyers Scorecard with Ferrero leading the way for 227 global companies in 3rd overall position – and 1st among all manufacturers – with a score of 21.7 out of 24. WWF’s sixth edition of the assessment evaluates global companies across various industries with stringent criteria that measure concrete actions and progress in their journey to make the global palm oil industry more sustainable.
As a baseline, in 2015 we were one of the first global companies to source sustainable palm oil that is 100% RSPO (Roundtable on Sustainable Palm Oil) Certified Segregated and traceable back to plantations. We go beyond this already high certification requirement that directly addresses the complexities of the industry with initiatives guided by three key areas outlined in our latest Palm Oil Charter: human rights & social practices, environmental protection & sustainability, and supplier transparency. Moreover, we are active members of POIG (Palm Oil Innovation Group) and HCSA (High Carbon Stock Approach).
Mario Abreu, Ferrero's Head of CSR and Sustainability stated, “With the understanding that there are many complex issues to be addressed within the palm oil industry, working towards the development of a more responsible supply chain for us is a top priority, not only for palm oil, but for all our raw materials. For this reason, we are proud that WWF has once again recognized our commitments and concrete actions to help shape a better future, together.”
The Ferrero Palm Oil Action Plan
On the heels of the WWF Scorecard announcement, and as a next step in the journey to going beyond sourcing 100% RSPO Certified Segregated palm oil, today we also published our Action Plan. It outlines concrete steps we are taking to meet commitments in the Palm Oil Charter.
Some of the strategic measures outlined in our Palm Oil Action Plan include:
• Human Rights & Social Practices: implementing Programs aimed at improving smallholders’ working conditions and build their resilience.
• Environmental Protection & Sustainability: actively protecting standing forests and/or restoring natural forest areas to generate positive carbon and biodiversity impacts, in partnership with our suppliers.
• Supplier Transparency: working towards achieving full traceability for all sourcing through to the estate level, done by leveraging innovative technologies such as the Starling satellite monitoring tool.
“Ferrero’s Palm Oil Action Plan outlines how our company is holistically implementing concrete initiatives that support our responsible palm oil supply chain commitments.” commented Marco Gonçalves, Ferrero's Chief Procurement & Hazelnut Company Officer. He added, “By working closely with our suppliers and partners, we are upholding full compliance standards through a continuous improvement approach to responsible sourcing that aims to help generate environmental, economic and social benefits for all.”