Companies renew commitment to the Private Sector Pledge
Three companies supporting the Zero Hunger Private Sector Pledge have together committed an additional US$ 35 million to end hunger. These three companies, Arla Food Ingredients, Morination Agricultural Productsand Unilever, had previously made a commitment to the Pledge. They have now nearly doubled their pledges by expanding their support for specific projects that help achieve zero hunger.
“It is great news that the latest pledges expand on these three company's first commitments. It is encouraging to see pledges are being further built into business core planning, thanks to the exemplary leadership and additional efforts of these companies,” stated Lawrence Haddad, Executive Director of GAIN and Co-founder of the Zero Hunger Private Sector Pledge.
More private sector investment is needed to eradicate hunger, with investments aligned to the highest impact areas. Companies that join the Zero Hunger Private Sector pledge commit to invest in at least one of 90 countries with interventions that can help marginalized populations and small producers benefit through training and resources (empower the excluded), encourage sustainable practices that are economically viable (on the farm) and reduce post-harvest losses (food on the move). These are based on the priority countries and intervention areas identified by the Ceres2030 project where investment will have the greatest impact in achieving SDG 2 (Zero hunger).
Arla Foods Ingredients will expand its support to the Whey2Value project in Pakistan which upgrades whey – a by-product of cheese production that often goes to waste – from local dairy producers into an affordable, nutrient-rich drink. Morination Agricultural Products provides programmes to help farmers in the Philippines to increase their yields, improve their storage facilities and access markets. Unilever will support 117 regenerative agricultural projects that will be launched by 2027.
Highlights from 2023
As of the end of 2023, 50 companies – from SMEs to multinational corporations - had committed US$ 574 million for projects in 49 priority countries. A number of African companies have increased their engagement and pledged a total of US$ 15 million for new business projects to end hunger in their communities using innovative business models and new technologies.
The Zero Private Sector Pledge issued its first Accountability Report in November 2023 to verify that pledging companies convert their commitments to on-the-ground action. Focusing on companies that have pledged over US$ 1 million by the end of 2022, the report confirmed that these companies collectively have already translated their commitments into US$ 140 million of investments in 103 projects spanning 46 priority countries.
“Our Accountability Report showed that companies are using their pledges to invest in their core business areas. With additional amounts pledged by Arla Food Ingredients, Morination Agricultural Products and Unilever, we are pleased that businesses are expanding their commitment to achieve SDG 2 and to the Zero Hunger Private Sector Pledge,” stated Carin Smaller, Executive Director of the Shamba Centre for Food and Climate and Co-coordinator of the Zero Hunger Private Sector Pledge.
Focusing on 2030
As the deadline for achieving the SDGs approaches, the Zero Hunger Private Sector Pledge will continue to engage with companies and mobilize further funding to achieve zero hunger. Recognizing the essential role of the private sector in contributing to food security and nutrition for all, the Zero Hunger Coalition calls on companies of all sizes and from around the world to align their business investments with high impact solutions to end hunger.