Nestlé’s latest Annual Report, released in conjunction with its Creating Shared Value and Sustainability (CSV) Report has unveiled its plans for continuing action to improve support for cocoa farmers in its global operations, reports Neill Barston. As the company noted, 2022 proved a challenging year for the business, which required constant rebalancing between forward-looking investments, affordability, and meeting its commitments to shareholders and other stakeholders. Significantly, the report highlighted for the first time the nutritional value of its complete food and drink portfolio, which revealed a core focus on delivering digitalisation of its operations, which it has identified as a key means of delivering a competitive edge and improving the efficiency of its operations. The company’s confectionery interests around the world generated CHF 8.1 billion in revenues, and remain a notable element within its interests, with its related supply chains receiving focus within the report. In terms of its support for farmers in key cocoa growing regions, the business noted its income accelerator program aims to improve the livelihoods of cocoa-farming families and tackle the root causes of child labour risks in cocoa production, while advancing sustainable farming practices. Notably, the initiative is expanding a reportedly successful pilot of […]
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