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23 September 2013 | Marino Donati
Investors in food manufacturing companies are supporting calls for firms to improve supply chain transparency.
Food companies including Nestlé, Unilever and Coca-Cola have been urged to improve supply chain policies by charity Oxfam as part of its Behind the Brands initiative.
Investors including F&C Asset Management, BNP Paribas Investment Partners and Aviva Investors have signed a statement sent to the 10 largest food firms supporting Oxfam’s aims, and promising to work with them to implement new policies.
The statement supports Oxfam’s call for protection for local communities from land and natural resource displacement, policies to ensure the equal treatment of women, and urgent action to tackle agricultural greenhouse gas emissions.
“Due to a lack of transparency within the sector, it is difficult to fully evaluate the risk and opportunity that our companies bear within their supply chains,” the statement said.
“The data show there is a broad and urgent need for significant improvement across the sector.”
The statement also supports Oxfam’s Behind the Brands scorecard, which ranks food and drinks companies on their policies. The charity has updated the league table, which shows small improvements made by some companies.