The Covid-19 pandemic brought unprecedented challenges for society and businesses in 2020. In 2021, we have a unique opportunity to build back better. For us, sustainability is a journey, not a destination. We always strive to go further, constantly taking new steps to improve and deliver solutions that are more sustainable.
Commitments made in 2020
We are committed to playing our part to steer our world onto a more equitable, inclusive and sustainable path.
- We have signed the UN Global Compact’s Statement for Renewed Global Cooperation, emphasizing the urgent need for global cooperation to support peace, security, human rights, and sustainable development due to the impact of the Covid-19 pandemic.
- We have signed the Science Based Targets initiative commitment letter. During 2021, we will set science-based targets through the Science Based Targets initiative (SBTi), driving the reduction of greenhouse gas emissions consistent with keeping global warming to 1.5°C above pre-industrial levels.
- We have also signed the coconut industry’s first global Sustainable Charter, which aims to improve farmer livelihoods, lessen the carbon footprint of coconuts and boost supply to meet rising global demand.
A year of raised ambitions
During 2020, we took important steps to raise our ambitions and intensify our sustainability work.
- We reached out to many of our key customers with deep-dive interviews about their sustainability to identify areas where we can further improve.
- We updated and strengthened our framework for integrating sustainability into our business model – the AAK House of Sustainability. This updated model will further build commitment and mobilize action throughout our organization.
- We identified climate risks and actions that can enable us to reduce our climate impact, and we initiated the process of setting Science Based Targets.
Sustainable palm oil
In 2020, AAK has taken important steps on the journey towards sustainable palm oil:
- We adopted a sourcing plan and strategy towards a palm oil supply chain that is 100 percent traceable to plantation and 100 percent verified deforestation-free.
- We stepped up our supplier monitoring and engagement and strengthened our processes for proactively addressing non-compliance.
- We implemented the full-scale satellite monitoring of our global palm oil supply base. The new service will provide real-time insights in areas connected to our supply chain where there are risks of deforestation.
"At AAK, we recognize that our responsibilities in the value chain go far beyond our own operations and that every step is connected to multiple stakeholders around the world. We actively manage risks and opportunities and we can play an important role in the future as a catalyst for change — Making Better Happen."
Johan Westman, President and CEO