"Ferrero Group recognises the critical role that the company plays in safeguarding nature for future generations. We reaffirmed through concrete engagements that sustainability is embedded in Ferrero's long-term strategy. All four pillars of our sustainability framework guide every strategic decision we take," said Giovanni Ferrero, Executive Chairman of the Ferrero Group.
"As Ferrero grows and diversifies its portfolio, we continue to value our long-term partnerships, in particular those dedicated to the communities where we operate and where our raw materials are sourced. We believe in the importance of partnerships to achieve progress, to move forward our sector's social and environmental agenda, and finally to create societal value."
Ferrero’s latest Sustainability Report for the 2022-23 financial year highlights the Italian confectionery company’s continued focus on driving greater transparency across its core ingredients supply chain, in line with its responsible sourcing approach.
In its hazelnut supply chain, Ferrero has now achieved 90% traceability, which it claims is a significant increase from the 79% reached in the previous year 2021/22 and sustained by its continued work with farmers, suppliers, institutions, universities, and research centres to promote and share sustainable farming practices.
In collaboration with partners on the ground, Ferrero said it has also helped address complex supply chain challenges, like deforestation, across the areas from which it sources ingredients. For example, using satellite mapping to help increase traceability of cocoa back to farm level to 93% in 2022-23.
Cutting-edge technology
In addition to working extensively with cutting-edge technology, Ferrero is a long-standing member of the World Cocoa Foundation (WCF) and the International Cocoa Initiative (ICI).
Collaboration has also played a key role in accelerating progress in tackling the causes behind child and forced labour. The company says it continues to partner with Save the Children, working with 65 communities in the Haut-Sassandra Region in Cote d’Ivoire, one of the main cocoa-sourcing countries, reaching over 18,000 people.
Ferrero is also working with Earthworm Foundation and the International Labour Organisation (ILO) across its palm oil and hazelnut supply chains respectively to help support responsible labour practices.