Olam Combines Financial and Sustainability Reporting for First Time to Highlight Importance of Creating Holistic Value
10 Apr 2017 --- Olam has merged its Annual Report with its Corporate Responsibility and Sustainability Report for the first time, reflecting the interdependence of economic, social and environmental performance for the global agri-business and the importance of creating value across all three fronts.
The FY2016 report’s theme, Maximising Value and Purpose, reflects the building blocks of an enduring business, according to Co-Founder and Group CEO, Sunny Verghese: “The macro changes that the world is experiencing have long-term implications for how businesses are led, organised, managed and financed. At Olam, we must continue to maximise shareholder value while pursuing a purpose-driven model, providing consistent transparency, advancing sustainability and engaging with an ever-broadening community of stakeholders. We remain focused on executing our differentiated strategy, aligned with our core purpose of Growing Responsibly.”
“To seize the opportunities from the rise of digital disruption, we are also creating a ‘digital first’ culture at Olam by evaluating various initiatives.” Commenting on the strong year-on-year net profit growth for 2016, A. Shekhar, Executive Director and Group COO, highlighted the significant uplift in volumes and sales revenues for Africa: “Given our depth and breadth of experience across the continent, Africa is a strategic vertical for the business.”
“We are confident that our investments in Africa and across our prioritised platforms will contribute further to our success moving forward,” he said. Commenting on Olam’s social and environmental performance, Jean-Paul Pinard, Chair of Olam’s Corporate Responsibility and Sustainability Board Committee, said: “For anyone investing in the agricultural sector, understanding the external aspects of the business is fundamental. Olam’s activities depend on the quality of the soil, the availability of water, and the dedication of people to grow, harvest and process quality crops. Combining sustainability reporting with business performance is therefore an important step.”
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