Givaudan launches new micro-financing project to support patchouli farmers and distillers in Sulawesi
More than 150 patchouli farmers and distillers in Sulawesi will benefit from financial support through new project, delivered in partnership with Bank Sulsebar
Givaudan has launched a new project making available a total of USD 360,000 in micro-financed loans for farmers and distillers in Indonesia. The loans will enable farmers and distillers to improve the sustainability of their farming practices and to improve yields. Individual loans for farmers will range from around USD 360-1,800 per person and distiller loans will range between around USD 11,000-36,000 depending on the size of the distillation unit.
Willem Mutsaerts, Head of Global Procurement and Sustainability for Givaudan, comments: “Driven by our purpose, we want to ensure that all communities benefit from working with Givaudan. This project enables us to directly improve the lives of farmers and distillers by empowering them to grow their businesses in a sustainable way and benefitting the wider community in the process.”
Givaudan’s Origination team has been sourcing patchouli in South East Sulawesi province since 2012. Since then, this work has increased in scale and we now collect over 20% of patchouli available to the market from an expanded area which includes South East, South, West and Central Sulawesi.
This new project is one of a number of initiatives designed to support patchouli producers in Indonesia as Givaudan strives to use its business as a force for good.
Among the initiatives are programmes focused on equipping farmers and distillers with sustainable agriculture skills.
Together with the Givaudan Foundation, Givaudan also offers projects which provide support and facilities for the wider community. These include a literacy programme for children which focuses on the development of libraries in North Kolaka regency, Buton island, Mamuju and Konawe.
Givaudan is a global leading company in taste and wellbeing, and fragrance and beauty. With its heritage stretching back over 250 years, the Company has a long history of innovating scents and tastes. From a favourite drink to your daily meal, from prestige perfumes to cosmetics and laundry care, its creations inspire emotions and delight millions of consumers the world over. The Company is committed to driving purpose-led, long-term growth while leading the way to improve happiness and health for people and nature. In the fiscal year 2019, the Company employed over 14,900 people worldwide and achieved sales of CHF 6.2 billion and a free cash flow of 12.7% of sales. Let’s imagine together on www.givaudan.com.
For further information please contact
Pierre Bénaich, Givaudan Media and Investor Relations
T +41 22 780 9053
Sara Neame, Sustainability Communications
T +44 7801 293776