Olympic
Climate Impact & Sustainability Data (2016)
Reporting Period: 2016
Environmental Metrics
Waste Generated:2 metric tons/week
ESG Focus Areas
- Occupational Health & Safety
- Water & Sanitation
- Health
- Building Safety
- Fire Safety, Emergency Preparedness and Response
- Wage and Benefits
- Facilities
- Energy
- Materials
- Waste
- Emissions
- Effluents
- Quality Control & Product Safety
- Social Responsibility
- Nutrition
- Education
- Gender Equity
- Climate Change
Environmental Achievements
- Reduced solid waste to 2 metric tons weekly from over 1,500 metric tons of goods produced
- Switched over half of lightbulbs from CFLs to LEDs
- 100% of master packaging (cartons) is made from recycled materials
Social Achievements
- Provided safe drinking water, oral rehydration saline, clean uniforms, and clean shoes to workers
- Provided spotless gender-designated bathrooms and separate changing rooms
- Implemented rigorous pest control
- Offered 24-hour medical care access for workers
- Provided sick and injured employees with free medical healthcare and paid medical leave
- Provided life insurance to all factory and field force employees
- Shared 5% of profits with workers
- Donated to various educational institutions and events in Bangladesh
- Funded an annual Energy Plus football tournament and Olympic Milk Plus indoor corporate cricket tournament
- Produced biscuits for the Land O’Lakes school feeding program, benefiting 75,000-100,000 school children and teachers
- Produced 15 million cereal bars through the Land O’Lakes Bangladesh Local Procurement Program
- Produced High Energy Biscuits (HEBs) and Ready-to-Use Complementary Foods (RUTFs) for the World Food Programme (WFP)
- Produced fortified biscuits through a manufacturing agreement with GlaxoSmithKline
Governance Achievements
- Implemented SAP enterprise resource planning system
- Adopted ISO 22000, a Food Safety Management System
- Contracted SGS for annual factory audits
Climate Goals & Targets
Long-term Goals:
- Reduce greenhouse gas emissions through renewable energy and offsetting
Short-term Goals:
- Transition from CFL to LED lightbulbs
- Use recycled materials for 100% of carton boxes, plastic trays, and jars
- Provide workers with warm meals every day at cost
- Set up a small convenience store near the factory for workers
- Use generator heat to produce 100 kwH of energy at Lolati factory
Environmental Challenges
- Climate change impacts on Bangladesh
- Malnutrition among workers
- Need for improved energy efficiency
- Greenhouse gas emissions
Mitigation Strategies
- Planning to use generator heat to produce 100 kwH of energy
- Planning to fully transition from CFL to LED lightbulbs
- Planning to use recycled materials for 100% of carton boxes, plastic trays, and jars
- Planning to reduce greenhouse gas emissions by using renewable energies and offsetting remaining emissions through afforestation or reforestation
- Providing workers with warm meals every day at cost
- Setting up a small convenience store near the factory for workers
Supply Chain Management
Responsible Procurement
- Sourcing best materials for ingredients and packaging
Climate-Related Risks & Opportunities
Physical Risks
- Climate change impacts on Bangladesh
Opportunities
- Increased energy efficiency
UN Sustainable Development Goals
- Goal 2 (Zero Hunger)
- Goal 4 (Quality Education)
- Goal 5 (Gender Equality)
- Goal 7 (Affordable and Clean Energy)
- Goal 8 (Decent Work and Economic Growth)
- Goal 12 (Responsible Consumption and Production)
- Goal 15 (Life on Land)
Projects tied to UN Sustainable Development Goals related to nutrition, education, equity, and climate change