COFCO International publishes 2018 Sustainability Report
GENEVA, Switzerland – COFCO International today published its second sustainability report, outlining progress made towards its mission to meet rising demand for food in a sustainable way.
Under the theme Feeding the Future, the report provides an overview of the company's sustainability performance against the five strategic priorities of sustainable supply, health and safety, environment, communities and upholding standards.
Highlights of progress in 2018 include:
- zero employee and contractor fatalities
- 18% reduction in employee lost-time injury rate to 0.39
- 18% increase in soy farms risk mapped to 1.1 million hectares
- 88% of global energy consumption from renewable sources, up from 82%
- 4% reduction in freshwater consumption to 11.8 million m3
- 12% increase in people directly benefitting from community programmes to 16,124
- Launch of consolidated global grievance mechanism for employees and external stakeholders
The report also introduces the company’s key sustainability partnerships and collaborations with stakeholders from across the public, private and NGO spheres, which have been instrumental in achieving the progress made.
“We are happy to report steady progress against our own priorities and to share our collaborative efforts to address systemic challenges,” said Johnny Chi, Chairman of COFCO International. “These challenges span pressures on natural resources and climate change; labour exploitation and human rights – all against a backdrop of rising food demand, volatile commodity markets and societal expectations for traceable, sustainable produce.”
The report has been prepared according to the Global Reporting Initiative (GRI) standards and aligns with the United Nations Sustainable Development Goals as well as the Environmental and Social Performance Standards of International Finance Corporation, a shareholder of COFCO International.
The COFCO International Sustainability Report 2018 is available on the website: www.cofcointernational.com/sustainability/
About COFCO International
With 11,000 people in 35 countries, COFCO International is the overseas agriculture business platform for COFCO Corporation, China's largest food and agriculture company. COFCO International is focused on being a leader in the global grains, oilseeds, sugar, coffee and cotton supply chains, with assets across the Americas, Europe and Asia-Pacific. The company trades with over 50 nations, while providing farmers unique direct access to the growing Chinese market. In 2018, COFCO International handled over 100 million tonnes of related commodities with revenues of $31bn. The company is accelerating its growth to create a world-class integrated global agriculture supply chain, anchored in China and competing globally.