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An Overview of Hershey’s Commitment to Cocoa Sustainability:
- The Hershey Company aims to enhance its fully verified cocoa supply chain by achieving complete sourcing transparency for its cocoa volume in both Ghana and the Ivory Coast by 2025, as outlined in its recent ESG report released last week. Learn more here.
- By December 2023, Hershey had allocated over half (51%) of its $500 million “Cocoa For Good” initiative, which focuses on developing long-term, fruitful partnerships with cocoa farmers to help them grow and succeed, according to the same report.
- The company recorded a remarkable 89% sourcing visibility as of 2023 and is on track to achieve its goal of fully mapping cocoa farmers’ polygons in the targeted regions by 2025.
Insights into Hershey’s Cocoa Strategy:
The Hershey Company is optimistic that its initiatives will enhance traceability and fulfill its pledge towards establishing a deforestation-free supply chain.
The chocolate sector has faced significant challenges in the cocoa supply chain over the past year, leading to consumer repercussions such as shortages and increased prices. Consequently, some manufacturers are exploring innovative product formulations to combat cost increases.
Beyond cocoa, Hershey’s report highlights five additional key areas of focus, which include responsible sourcing, human rights, environmental sustainability, community engagement, and youth initiatives.
“We are dedicated to fortifying our business and ensuring we create the greatest impact in our target areas,” stated Michele Buck, CEO of The Hershey Company. “Although we recognize there is more work ahead, the collaborative efforts of our team, alongside prominent organizations and key stakeholders, will keep driving us forward,” she added.
Hershey acknowledges its vital role in enhancing the cocoa supply chain and improving farmers’ livelihoods while also emphasizing the shared responsibility among its partners.
Key collaborators in Hershey’s initiatives include the Association of Chocolate, Biscuit and Confectionery Industries of Europe, the EU Cocoa Coalition, Ghana Cocoa Board, and the Government of Côte d’Ivoire’s Ministry of Water Resources and Forests.
According to Hershey, the current cocoa supply chain is predominantly composed of millions of smallholder farmers facing low yields and incomes, particularly in West Africa. In addition to addressing supply chain challenges, Hershey is focused on elevating the welfare of these farmers.
“As a prominent player in chocolate manufacturing, we recognize the unprecedented volatility in cocoa prices,” remarked Buck.
“Cocoa is our top priority, and despite the work that lies ahead, we take pride in our ongoing efforts to enhance visibility and foster productive relationships with the essential farmers growing this crucial ingredient.”
Additionally, Hershey has made significant strides towards sustainable sourcing, achieving 86% of its goal to fully develop sustainable supply chains for its essential ingredients and materials by 2025.
SOURCE
Maria Sanchez completed her Bachelor’s degree in Plant Sciences from the University of California, Davis, in the USA. Her studies focused on plant genetics and biotechnology, with an emphasis on developing disease-resistant crop varieties. Maria has contributed to several research projects aimed at improving crop resilience to climate change and is now pursuing her Master’s degree in Plant Breeding.
