AAK Annual Report 2020

AAK 17 Annual Report 2020 In line with our portfolio roles, we have made some important investments during the year. These include the acquisition of our long-term partner Margaron in Russia, one of the world’s largest chocolate and confectionery markets. We have also made significant investments in our production plant in China that will strengthen our position within Special Nutrition in the Chinese region. As for Plant-based Foods, one of the pillars within “Bet for the future”, we have decided on a Plant-based Foods Global Center of Excellence in the Netherlands and we have also joined important partnerships in North America and India to accelerate innovation and drive further growth within this highly dynamic and fast-paced category. To further enhance our Customer Co-Development approach, we have during the year developed and adapted our model to a more digital environment. This has been a truly great experience, both for us and for our customers. To improve our sustainability offerings, we have committed to set science-based emissions reduction targets through the Science Based Targets initiative, consistent with keeping global warming to 1.5°C above pre-industrial levels. We have furthermore defined two impor- tant palm oil targets: to be 100 percent deforestation-free and have 100 percent traceability to plantation by 2025.