January 20, 2021
Following our vision to be the “Preferred Provider of Sustainable Value Added Products and Services for Everyone, Everywhere and Every Day”, we want to create products and services that not only our customers enjoy but also contribute to our sustainable development agenda.
We recognize that our nature of business depends on agricultural products such as palm oil. IFFCO palm-based facilities are 100% certified by the Roundtable on Sustainable Palm Oil (RSPO). In 2020, our customers trusted the Oils & Fats facility in Egypt to produce IFFCO’s first RSPO Segregated palm products. The volume of RSPO-certified palm oil processed in our facilities doubled in 2019 compared to 2018, and we are putting effort to continue to increase it.. Our record for the first half of 2020 showed that the palm oil products sourced and processed were 100% traceable to the palm oil mills at the Group level and more than 75% traceable to plantations level. This traceability is higher than our target of 50% by the end of 2020. The traceability data and our due diligence practices are fundamental in ensuring no deforestation within our palm supply chain.
In 2020, IFFCO participated in programme and assessment carried out by well-known organizations. IFFCO won the popular vote in the Living Business programme, where we took the opportunity to develop a comprehensive sustainability strategy. CDP (Carbon Disclosure Program), widely recognized as the gold standard of corporate environmental disclosure, awarded IFFCO with score “B” for palm oil commodity under the Forest theme. The theme assesses deforestation risks from four items: timber products, cattle products, soy and palm oil. The score awarded to IFFCO is higher than the average score of food & beverage processing companies, Asia region, and the global average of “C” for the same commodity. EcoVadis has also awarded IFFCO Beauty a silver recognition for the corporate social responsibility.
We are thankful for the trust and look forward to a strengthened partnership in 2021 to co-create more milestones as we step up our sustainability actions.