Our core values in practice: IOFI and IFRA move their Sustainability Initiative to the next level
Apr 20, 2020
The flavor and fragrance industries share a long-standing commitment to sustainable development, which has been intrinsic to all dimensions of our business for many decades. In recent years, it became clear that a commitment to sustainable business practices not only contributes to reducing the environmental footprint, but also makes good long-term economic sense.
Whether it is by reducing use of finite resources, carefully treating renewable resources, responsible employment practices, promoting leading-edge safety standards for consumers, or nurturing of relationships with stakeholders, customers and consumers, all aspects of a business value chain can benefit from a sustainable approach.
In this context, IOFI and IFRA (International Fragrance Association) understand the relevance of sustainable business practices and have partnered to devise a voluntary Sustainability Charter. It aims at providing a collective framework for the flavor and fragrance industry, supporting efforts undertaken by each company, regardless of its size, and encouraging enhancements in the field of sustainability. The Charter is built around the Sustainable Development Goals (SDGs) of the United Nations, which provide a framework for a more sustainable development of our world.
In detail, the Charter defines five focus areas: Responsible Sourcing, Environmental Footprint, Well-being of employees, Product Safety and Transparency. One of its main objectives aims at providing a set of tools designed to share best practice, offer guidance and measure improvement.
With the official invitation to members to sign the Charter launched on 12 March 2020, IOFI and IFRA move their Sustainability Initiative to the next level, laying the foundation for long-term engagement, building trust amongst our stakeholders and addressing public expectation towards reliability and transparency in all our actions.
IOFI and IFRA attach great importance to respecting the voluntary dimension of the Sustainability Charter. Each company signing the Charter will do so because of a shared conviction that anchoring sustainability within their business strategies forms a prerequisite for a prosperous and viable future.