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Hershey's Bold Moves Towards Sustainable Cocoa Sourcing Goals by 2025

apexlifehub.com 1 day ago

The Hershey Company is making significant strides in its sustainable cocoa sourcing efforts, with a target to achieve full visibility in its cocoa volume in Ivory Coast and Ghana by 2025. With more than half of its $500 million 'Cocoa For Good' investment already deployed, Hershey is concentrating on forging enduring partnerships with farmers to enhance their professionalism and growth. Stepping Up Sourcing Visibility: Hershey has already achieved 89% visibility in its sourcing as of 2023 and is well-positioned to map 100% of its cocoa farmers in both regions by 2025. This strategic move is poised to bolster traceability and reinforce the company's commitment to fostering a deforestation-free supply chain. Impacting the Sector: The chocolate industry has grappled with challenges in cocoa supply chains, resulting in shortages and increased prices for consumers. To address these issues, Hershey is delving into new product formulations. Beyond cocoa, the company is emphasizing five other crucial pillars in its sustainability endeavors, encompassing responsible sourcing, human rights, environmental conservation, community welfare, and empowering the youth. CEO Michele Buck underscored Hershey's dedication to instigating positive transformations and fostering collaboration with key stakeholders to drive progress. Uplifting Farmers' Welfare: Recognizing its pivotal role in enhancing the livelihoods of cocoa farmers, Hershey stresses the significance of collective responsibility among its partners. By aligning efforts with esteemed organizations like The Association of Chocolate, Biscuit and Confectionery Industries of Europe and the Ghana Cocoa Board, Hershey is unwavering in its support for smallholder rural farmers in West Africa to achieve better yields and incomes. Sustaining Momentum: Despite the hurdles, Hershey remains resolute in its commitment to the cocoa industry and sustainable practices, aiming to sustainably source all its priority ingredients by 2025. Buck affirmed, 'Cocoa holds a primary spot on our agenda, and we take pride in the strides made towards deeper engagement and visibility with cocoa farmers.' Hershey's persistent endeavors in sustainable sourcing epitomize its dedication to catalyzing positive change in the cocoa supply chain and uplifting the lives of farmers.

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