August 23, 2016
Olam International recognised in Fortune's 'Change the World' list
Olam International, a leading global agribusiness, took the number 23 spot in Fortune's second annual 'Change the World' list, which recognises companies that have made a positive social impact through activities that are part of their core business strategy.
Since the launch of the Olam Livelihood Charter (OLC) five years ago, Olam has worked directly with over 345,000 smallholders in its supply chains to improve crop yields and quality, livelihoods and wellbeing, access to finance and markets, and reducing environmental impact. Supporting farmers in this way has meant consistent volumes of sustainable product for Olam customers.
In the Fortune interview, Chris Brett, global head of Olam Corporate Responsibility and Sustainability, emphasises how the OLC was "an opportunity to create partnerships."
"The OLC's impact would not be so great without the support of our customer, NGO, certification, trade, foundation and development partners," Chris added. "By learning from one another, we have been able to improve and expand our programmes year-on-year. This recognition in Fortune's Change the World list is testament to the commitment of all our partners, and also our product teams across the globe, who believe in the importance of investing in smallholder farmers."
Change the World is a global, multi-industry list compiled of nominated companies evaluated and ranked by Fortune writers and editors for:
- Measurable social impact: This is the most important factor. The reach, nature and durability of the initiative is identified and validated through independent sources;
- Business results, particularly profitability and contribution to shareholder value;
- Degree of innovation relative to that of others in its industry and whether its impactful actions have prompted other companies to follow its example.
"We set out to identify 50 companies across the globe that are tackling major societal problems - reducing damage to the environment, strengthening communities, serving the underserved, and significantly improving lives as a function of their business model - and whose good works contribute to their bottom lines," Fortune's editors' write. "And this year, as last, Fortune's reporting staff, our partners at FSG, and an expert panel of outside advisers found dozens of inspirational examples."
"The best businesses, of course, have always put purpose at the center of their strategies," Fortune editor Alan Murray says. "Increasingly, they are building intentional efforts to address social problems into the core of their business plans. It is these efforts that we highlight in our second annual 'Change the World' list."
