Patrick Yu on World Economic Forum
Patrick Yu, Chairman of our Supervisory Board, attended the World Economic Forum in Davos last week.
He actively participated in a panel discussion on climate change, together with thought leaders such as the former Vice President of the United States of America Al Gore, the Prime Minister of Bangladesh Sheikh Hasina, the Prime Minister of Norway Erna Solberg, and the Group Chief Executive of HSBC Holdings Stuart Gulliver.
Patrick Yu emphasized the direct link between climate change, food security and our agribusiness chain and underlined our sustainability strategy, stating that for COFCO it is all about “Meeting tomorrow’s demand”. He also stressed the importance of getting sustainability integrated in our whole value chain, from farmer to fork, and the need to engage stakeholders, such as NGO’s and the Paulson Institute, to create shared value. Furthermore he underlined the important role of large institutions, such as IFC, one of COFCO International shareholders, and the implementation of their Performance Standards.
Listen to his opening speech at minute 17:00 and his answer, at minute 42:26, to the question; “How does a big food company in China uses his supply chain to help us scale the Paris Agreement and help China to participate in that scaling?”.