China's COFCO International publishes 2018 Sustainability Report in Geneva
People's Daily


(Photo: Agencies)

GENEVA, June 20 (Xinhua) -- COFCO International, the Geneva-based overseas agricultural business platform for China's biggest food and agricultural company, published on Thursday its annual sustainability report for 2018, outlining progress in its mission to meet the rising demand for food sustainably.

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.

"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; labor exploitation and human rights - all against a backdrop of rising food demand, volatile commodity markets and societal expectations for traceable, sustainable produce," he said.

In the report COFCO International said its 2018 highlight include: 18 percent reduction in employee lost-time injury rate to 0.39; an 18 percent increase in soy farms risk mapped to 1.1 million hectares and 88 percent of global energy consumption from renewable sources, up from 82 percent.

The company also had a 4 percent reduction in freshwater consumption to 11.8 million cubic meters; a 12 percent increase in people directly benefitting from community programs to 16,124 and the launch of consolidated global grievance mechanism for employees and external stakeholders.

The report introduced 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.

COFCO International said its report was prepared according to the Global Reporting Initiative (GRI) Standards and aligned 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.

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. It trades with over 50 nations, while providing farmers unique direct access to the growing Chinese market.

Aiming to be a leader in the global grains, oilseeds, sugar, coffee and cotton supply, COFCO International handled over 100 million tones of related commodities with revenues of 31 billion US dollars in 2018.