Ferrero Trading Lux SA enters into an agreement with ALLCOT AG to exclusively market Ferrero’s Gold Standard carbon credits
Ferrero Trading Lux SA has agreed that sustainability solutions provider, ALLCOT AG will have exclusive worldwide marketing and sales rights for its Gold Standard carbon project portfolio.
In 2007, Agrigeorgia LLC., a full subsidiary of Ferrero but 100% locally managed company, developed Ferrero’s first carbon project “Afforestation with Hazelnut Plantations in Western Georgia”.
The plantation represents the first ever Gold Standard food afforestation project and involves the planting of 2.5 million trees over 3,600 ha. With a focus on nature conservation practices, including the creation of ecosystem corridors and natural re-vegetation processes, it offers a replicable, best-practice model. With unemployment in the region significantly above the country average, the local economy has received a major boost from the creation of over 1,000 full-time and seasonal jobs; improvements in infrastructure including land mine clearance; refurbishment of local sporting facilities; rehabilitation of power lines and the construction of new roads and community buildings.
‘’We are delighted to partner with Ferrero and look forward to combining ALLCOT’s market reach and innovative communications with Ferrero’s first-class portfolio. The food sector is at the forefront of sustainability and we are engaging with it in new ways to deliver value for our clients.’’ Grattan MacGiffin, Chief Commercial Officer, ALLCOT AG, says.
“As a hazelnut industry leader, the Ferrero Group has set out to test and disperse a sustainable agriculture system, through the ‘Afforestation with Hazelnut Plantations in Western Georgia’ project. The result is a replicable best practice model for Ferrero, the industry and beyond. In line with its corporate social responsibility (CSR) strategy, the Group has embraced its place within society and its role in advancing global development. This Georgian project alone has significantly helped the region, namely on food security, economic opportunity and climate change. To promote this important activity, we are partnering with ALLCOT because of their unique expertise in promoting high quality carbon projects and innovative approach.” Arduino Borgogno, Purchasing Director of Ferrero Trading LUX S.A.”
Ferrero is an Italian manufacturer of branded chocolate and confectionery products and it is one of the biggest chocolate producers in the world. Founded in 1946 in Alba, Piedmont, Italy by Pietro Ferrero, the company’s products include Nutella, Ferrero Rocher, Pocket Coffee, Mon Chéri, Giotto, Raffaello, and the Kinder line of products, as well as the Tic Tac range. The company’s distinctive feature is the passion for its products and its primary and indispensable objective is the satisfaction of consumers. To this end, Ferrero is committed to the constant pursuit of the highest quality, while building on the pillars of economic, social and environmental sustainability and investing in its brands for the long term.