Ferrero has released its Cocoa Charter and Cocoa Action plan, which reaffirm its ambition for an ethical and sustainable cocoa industry.
Ferrero’s cocoa is already 100 per cent sustainably sourced, and 96 per cent traceable to farm level, but Ferrero aim to implement a raft of new initiatives.
These initiatives include Farm development plans and income-generating activities such as paying a cash premium to farmers on top of the commercial price to support cocoa farmers to prosper, partnerships to develop systems to address child labour, and working with the Cocoa & Forests Initiative (CFI) to end deforestation in the sector.
Marco Gonçalves, Chief Procurement and Hazelnut Company Officer, said the Cocoa Charter and Action Plan underline Ferrero’s ambition to create value for people and the environment within the cocoa sector.
“Through our distinct sourcing approach, we know the farmers and communities we source from, and this enables us to support them in a targeted way. We are now strengthening our activities to bring about lasting change for the sector.”
Ferrero first commenced its efforts towards responsibly sourced cocoa in 2005, joining the World Cocoa Foundation and the International Cocoa Initiative.
Ferrero will publish a report each year on the progress made against the Action plan, with the first report due in Q2 2022.