What's Happening?
Olam food ingredients (ofi) has introduced a new sustainability strategy aimed at boosting climate resilience within its spice supply chain. The strategy, known as 'Spice Maps,' sets 2030 targets for six priority spices, including pepper, chilli, and
turmeric, across various regions. The initiative focuses on themes such as prosperous farmers, climate action, and thriving communities, aligning with Olam's broader 'Choices for Change' sustainability strategy. The company plans to implement regenerative agriculture practices and provide emissions reduction roadmaps to farmers in countries like the U.S., Vietnam, and India.
Why It's Important?
Olam's strategy addresses critical challenges in the global food supply chain, such as climate change and resource scarcity. By enhancing the resilience of its spice supply chain, Olam aims to mitigate risks associated with extreme weather and soil degradation, which are increasingly affecting global agriculture. This initiative could serve as a model for other companies in the food industry, promoting sustainable practices and potentially influencing regulatory policies. The focus on climate resilience is particularly relevant as the U.S. and other countries face similar environmental challenges.
