Barry Callebaut ranked at the top for the management of ESG risks by Morningstar Sustainalytics
Barry Callebaut ranked at the top for the management of ESG risks by Morningstar Sustainalytics
This is the fifth consecutive year that Barry Callebaut has been recognized as an industry leader in the management of the ESG risks in our supply chain.
Overall, Barry Callebaut was recognized as "Leader" in both the Environmental and Social categories, and as an "Outperformer" in Governance. This achievement reaffirms our standing within the broader food and beverage industry.
Barry Callebaut was once again ranked in the 1st percentile in both the Food Product and Packaged Food companies by Morningstar Sustainalytics. The company's overall exposure to ESG risks is rated as 'High', but the overall management of ESG issues is rated as 'Strong', the top management category.
The importance of stakeholder engagement
Customers, investors and other stakeholders expect Barry Callebaut to address the key sustainability challenges in our supply chain. 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 (Environmental, Social and Governance) materiality assessment to align with the evolving needs of our stakeholders and the changing dynamics of our industry.
In 2023, Barry Callebaut conducted a comprehensive double materiality assessment to better understand and prioritize these areas. This process involved extensive engagement with a wide range of stakeholders. Their feedback and insights have been integral to ensuring that our approach aligns with both the realities of the cocoa sector and the expectations of our stakeholders.
Our latest materiality report highlights the ESG topics considered most critical by our stakeholders, in terms of their impact on the people, communities and the environment where we operate and the subsequent financial significance for Barry Callebaut.
On November 30, 2023, the seventh edition of our Forever Chocolate Progress Report will be published.
Our approach to transparent reporting and governance
We are committed to assessing and reporting on our ESG risks. We publicly disclose our approach and progress on key material topics in our third-party verified annual Forever Chocolate Progress Report. In addition, we have a public dedicated page covering a range of key ESG topics that impact our operations and supply chain. We also disclose the geolocations of cocoa suppliers we source from.
A dedicated ESG task force is employed to oversee, coordinate and align all relevant ESG activities in order to achieve those objectives. The Board of Directors plays a crucial role in overseeing our ESG strategy within Barry Callebaut. This oversight includes aligning the business and ESG strategy and ambitions, ensuring a long-term vision on the development of our business value, and actively identifying and managing actual and forward-looking risks. The Board ensures that adherence to Regulations and sustainability topics and matters are fully integrated into the company's purpose, strategy, decision-making, risk management, and accountability reporting.
About Morningstar Sustainalytics
Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world's leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit www.sustainalytics.com.
