Mars aims to tackle ‘broken’ cocoa model with new sustainability scheme

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LONDON (Reuters) – Mars Wrigley Confectionery launched a new sustainability strategy on Wednesday with the aim of combating deforestation, child labor and poverty in what it called the “broken” cocoa supply chain.

U.S.-based Mars, the maker of M&Ms and Snickers, said it had revamped its cocoa strategy in an effort to tackle problems that the company and wider industry had so far failed to address.

“The cocoa supply chain as it works today is broken,” John Ament, global vice president of cocoa at the privately owned company, told Reuters in an interview.

“It’s time to recognize this and to build a new model and a new approach that focuses on putting the smallholder at the center.”

Read more at : https://www.investing.com/news/commodities-news/mars-aims-to-tackle-broken-cocoa-model-with-new-sustainability-scheme-1615762

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