AAK Annual Report 2020

AAK Annual Report 2020 7 difference; and it connects with customers, investors and NGOs on a more strategic level. This purpose has an enormous potential and we are fully committed to Making Better Happen. Raised ambitions within sustainability To help steer our world onto a more equitable, inclusive and sustainable path, we have also taken important steps to raise our ambitions and intensify our sustainability work. One such step is that we have identified climate risks, frameworks and actions that can enable us to effectively reduce our climate impact. We have also begun the process of setting targets for CO 2 emissions that will be approved by the Science Based Targets initiative. Progress has also been made within our sourcing activities. Our direct sourcing program in West Africa, Kolo Nafaso, continued to expand during 2020 and is now reaching more than 320,000 women, an increase by 39 percent compared to 2019. At the heart of this program is a long-term sustainable partnership, sourcing directly from women in one of the world’s poorest regions. We have furthermore announced our commitment to verified deforestation-free and conversion-free palm and soy supply chains by 2025, and we have signed the coconut industry’s first global Sustainable Charter, which aims to improve farmer livelihoods, lessen the carbon footprint of coconuts, and boost supply to meet rising global demand. As I write this, the Covid-19 pandemic continues to impact people and societies all over the world. But with vaccination programs now fully underway, we have good reasons to be optimistic about the future. Although there are still many uncertainties within our industry, we see no reason to adjust our view on the strong favorable underlying long-term trends in our markets. I have always been impressed by the spirit of our organization, but the commitment and agility that I have seen in response to recent challenges have been nothing less than remarkable. I am a very proud mem- ber of the AAK family. By way of conclusion, I would like to thank our customers, suppliers, shareholders, the Board of Directors, our dedicated management team, and all AAK colleagues around the world for the continued support during an unprecedented year. Johan Westman, President and CEO