Mondelēz International will spend an additional $600 million by 2030 on its Cocoa Life program. The initiative, which started in 2012, addresses environmental and human rights challenges and improves the livelihood of farmers who raise cocoa.
Dirk Van de Put, Mondelēz’s CEO, said more collaboration needs to be done to have a meaningful impact on the crop. “We are calling for more sector-wide effort and actions to drive greater impact, including new private-public partnerships,” he said.
Mondelēz, which has spent or committed $1 billion on Cocoa Life since the program commenced, is the latest CPG to invest large sums of money into its cocoa operations amid increasing demand for products that use it.
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