Oil Majors: World and Climate Targets

oil majors: An announcement should be made at the World Cocoa Foundation Partnership meeting in Berlin this week, said the people, who asked not to be named because the information is private. ; The move may come as a surprise the ethically minded millennial consumer is increasingly interested in knowing where food comes from, whether it has been grown sustainably and without the use of child labor, according to The Japan Times. It is also in sharp contrast to the corporate world, where investors are hatching up pressure on companies from oil majors to miners to change practices and meet climate targets. The West African nations, which produce more than 60 percent of the world's cocoa, are preparing to suspend sustainability programs run by private companies including traders, confectioners and certification agencies, according to people familiar with the matter. Cote d'Ivoire and Ghana are taking unprecedented steps to exert more control over global cocoa prices, with a joint initiative to boost farmer income by adding a premium of 400 a ton over futures prices for beans delivered starting October 2020. Cocoa regulators in both countries are growing increasingly frustrated with the slow adoption of the new strategy, with Cote d'Ivoire having sold only about 10 percent of the bigger of two annual crops with the premium, according to people familiar with the matter. While most firms in the cocoa and chocolate sectors have agreed with the principle of paying farmers a higher price, many are still grappling with adhering to the new strategy as the premium can't be hedged. (news.financializer.com). As reported in the news.