We measure and monitor the impact of our businesses through our Food System Commitments and our Portfolio Steering mechanism. These impact measurements enable us to demonstrate the role that our businesses play in society. In the wake of our merger, we will re-evaluate these approaches to ensure that how we measure our impact is future-proof, and for our portfolio, in line with external practices.
The Food System Commitments
Our Food System Commitments were launched in 2021 to outline our dedication to transforming food production and consumption by 2030. These were aligned with our business priorities, to showcase the positive environmental, social and health impacts of our business, where feasible. In 2024, the Food System Commitments will be re-evaluated for their strategic fit with the company given the context of the merger.
Due to the impact of the merger and the alignment of our plant-based proteins businesses, our plant-based protein commitment will not be reported on over 2023.
Portfolio steering
As dsm-firmenich, we bring together two portfolios of solutions supporting improved societal outcomes, from reducing emissions in animal farming to supporting health and well-being. Our portfolio steering mechanisms, including Brighter Living Solutions Plus (BLS+) and our Ecotools have quantified the positive contributions our portfolio has made.
In 2023, our focus was on the data collection process for our merged businesses, a pivotal step in the integration journey. This also included the harmonization of underlying systems from the two legacy companies, a complex task that is required for the foundation for our future portfolio insights. Consequently, we have paused reporting on the performance of our legacy portfolio steering mechanisms. This strategic decision aligns with our commitment to transparency and allows us to concentrate our efforts on the process of consolidating and optimizing our operational infrastructure. For the coming years, our goal is to craft a future-fit sustainable portfolio steering framework, designed to meet the expectations of both our customers and investors. This framework will serve as a guiding force, empowering us to steer the portfolio and innovation pipeline of our newly created company toward more sustainable business and business opportunities.
