Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Big changes have been announced in Fonterra’s 2019 Sustainability Report.
Co-firing biomass to reduce coal, lifting the number of New Zealand products with health star ratings and launching an emissions profile for every farm headline the report.
While these and other gains are pleasing and have laid some good foundations for the future, Fonterra chief executive Miles Hurrell says there is still a lot of work ahead.
“Our 2019 Sustainability Report is an important step towards sustainability being at the heart of our business,” says Hurrell.
“Given the tough year we had, it would’ve been easy to push sustainability to one side, whereas we have in fact continued to make progress. We’ve underlined our commitment to the importance of sustainability and firmed up plans to do more on climate change, coal, waste and sustainable packaging.
“The report is a discussion with New Zealanders around the kind of world we want to leave for future generations and how we’re measuring ourselves against that ambition.
“I’m focused on being a part of a New Zealand dairy co-op that’s producing nutrition in a way that cares for people, animals and our environment, and brings value to our communities.”
Carolyn Mortland, Fonterra global sustainability director, says this is Fonterra’s third annual Sustainability Report, and reports against its new triple bottom line of Healthy People, Healthy Environment and Healthy Business.
“Establishing our inaugural Sustainability Advisory Panel is a critical move to helping guide us as we continue to strive to be a world leader in sustainably-produced dairy nutrition,” says Mortland.
Highlights from 2019 include:
But Moprtland says there’s still a lot more work to do, such as supporting farmers in their response to climate change and doing more to bring greater gender and ethnic diversity into the business.
“We don’t shy away from the fact that we need to do more against some of our ambitious targets,” Mortland added.
“What is clear is that we made some good progress in a tough year and have set ourselves up for the years ahead.”
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