Chocolate and cocoa product manufacturer Barry Callebaut has recently been named the top company for managing ESG risks by Morningstar Sustainalytics. The company is distinguished in the first percentile in both the Food Product and Packaged Food companies, marking the fifth consecutive year it has been recognized as an industry leader in such practices.
As a whole, Barry Callebaut was recognized as a “leader” in the Environmental and Social categories and an “outperformer” in Governance. Generally, its exposure to ESG risks is rated “high”, while its overall management of ESG issues is “strong” — the top ranking for this category.
“Customers, investors and other stakeholders expect Barry Callebaut to address the key sustainability challenges in our supply chain,” the company said in a statement. “As the global sustainability landscape continues to evolve, we are committed to evaluating what priorities and risks our stakeholders in the chocolate and cocoa value chain deem important for us to focus our efforts on.”
“We do this via regularly updating our ESG materiality assessment to align with the evolving needs of our stakeholders and the changing dynamics of our industry.”
Barry Callebaut: ESG priorities
The company publishes its progress in the annually verified Forever Chocolate Progress Report and maintains a public page detailing key ESG topics impacting its operations and supply chain. In 2023, Barry Callebaut conducted a comprehensive double materiality assessment involving extensive engagement with various stakeholders.
The latest double materiality report defines 13 topics comprehensively covering its ESG domains, including climate and energy, pollution, water and marine resources, biodiversity and ecosystems, resource use and circular economy, and more.
“We are committed to evaluating what priorities and risks our stakeholders in the chocolate and cocoa value chain deem important for us to focus our efforts on.”
Barry Callebaut’s Forever Chocolate — a plan to normalize the production of sustainable chocolate — is a key part of this. Launched in 2016, it seeks to produce 100% sustainable chocolate by 2025, as well as other ambitious targets to eradicate child labor from its supply chain, lift cocoa farmers out of poverty, and become carbon and forest-positive.
The seventh edition of the Forever Chocolate Progress Report is scheduled for release on November 30, 2023. This report is expected to provide further insights into the company’s sustainability initiatives and achievements.
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