Flour Mills, Nigeria’s (FMN) leading integrated food business and agro-allied group has restated commitment to deploying resources and expertise towards global efforts at tackling climate change and managing the environment, social and governance (ESG) imperatives.
FMN which launched its first sustainability report titled ‘Feeding the Nation and Enriching lives through Sustainable Operations’ at the (Nigerian Stock Exchange ) (NSE) says it is committed to driving operational excellence and minimising negative impacts of its activities on the environment while making significant contributions towards the United Nations Sustainable Development Goals (SDGs).
Omoboyede Olusanya, group managing director/CEO of FMN, speaking at the facts behind the sustainability report presentation to the Nigerian Stock exchange (NSE) in a virtual session, said the report shows the organisations commitment as a business to continue to engage in sustainable practices that directly impact the environment and social performance.
“This report provides insight into our commitment as a business to continue to engage in the most sustainable practices which directly impact our environment and social performance. We are incredibly happy with what we have achieved, and we are ready to increase our efforts in creating a resilient future for the nation,” he said.
On Flour Mills’ response to climate change, he said the organisation was guided by its sustainability statement of contributing to the preservation of biodiversity, reducing water consumption, waste, and greenhouse gas emission.
He said the business has invested more than N150 billion in the last 10 years on backward integration to execute its core business strategy of aiding the agricultural sector.
“Our backward Integration program acts as a strategic imperative to create value in our supply chain and reduce dependence on imported raw materials,” he said.
“Our multi-faceted stakeholders’ engagement mechanism aids in the development of strong partnerships with our stakeholders as well as the deeper understanding and resolution of key concern and aspirations,” he added.
He noted that the business leadership structures and procedures help it maintain strong corporate governance across its subsidiaries and translate strategy into action.
He stated that FMN’s trade sustainability strategy was based on an empowered workforce which it has achieved through diversity, inclusion, employee engagement, workplace protections, and adherence to all labour practices.
Speaking also, Oscar Onyema, chief executive officer, Nigerian Exchange Group in his opening remarks, applauded Olusanya and the board of FMN for leading the charge to advance sustainability in the food and agro-allied sector.
“We commend the board of FMN for leading the charge to advance sustainability in the food and agro-allied sector. In particular, we commend at the onset of his leadership as group managing director,” he said.
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