WACOT Limited

Corporate Responsibility & Sustainability

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SUSTAINABILITY FRAMEWORK​

"We firmly believe in the responsible and sustainable sourcing of products"

WACOT’s Corporate Responsibility and Sustainability approach is based on respect for the people, communities, and the environment. At WACOT, we firmly believe in the responsible and sustainable sourcing of products across our operations. One of our pillars of success is the welfare and improvement of the people and communities that are a part of our operations.

We constantly implement a shared approach to Corporate Responsibility and Sustainability; this approach is three-fold:

Local Industries and Job Creation:

WACOT aims to create and nurture local industries using natural resources, generating jobs, and providing high-quality food.

Empowerment of Women:

The company empowers women economically and, in the workplace, to drive future progress.

Social Development Programs:

WACOT undertakes initiatives in agriculture, community engagement, and women’s empowerment, including farmers’ development, women empowerment, and community healthcare programs.

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We firmly believe in the responsible and sustainable sourcing and manufacturing of our products. Our success is based on continuous commitment towards the welfare and improvement of our people and communities.

Our sustainability programmes apply a structured value chain approach to our out-grower farming initiatives. It cuts across our different value chains of cocoa, cotton, and sesame . We apply a structured value chain approach to our programmes by:
⦁  Organising farmers through registration and creation of smallholder farming groups and cooperatives. This helps the farmers attain increased productivity, income, and purchasing power, as well as develop a savings culture which in turn creates economic development in their communities.
⦁  Providing easy access for farmers to quality agro-inputs including seeds, fertilisers and other growth promoters, and crop protection chemicals.
⦁  Facilitating capacity-building training for the farmers on good agricultural practices (GAP) and yield enhancement techniques (YET).
⦁  Off-taking produce at market prices with immediate cash payments.

Sustainability Pillars



PRIORITY AREAS

Capacity Building

 WACOT offers in-class and field training on Good Agricultural Practices (GAP), Yield Enhancement Techniques (YET), crop production, soil conservation, business development, and cooperative strengthening.

Yield Enhancement

 WACOT provides farmers access to quality agri inputs, improved seed varieties, and crop protection chemicals. They also establish demonstration farms for disseminating Good Agricultural Practices.

Financing

WACOT provides agri inputs to farmers, off-takes produce at market prices with immediate payments, and rewards sustainable crop producers with "Premium Payments."

Social Investment

WACOT invests in infrastructure such as boreholes, irrigation systems, and environmental cleanup in farming communities. They also contribute to education by renovating classrooms in their operating communities

Youth Engagement and Women Empowerment

WACOT involves at least 30% of youths and 20% of women in farming operations to enhance sustainability and promote gender equality.

Sustainability Value Chains

Cocoa

The cocoa sustainability program started with smallholder cocoa farmers in 3 states and expanded to 5 states. In 2021/2022, WACOT achieved RA Certification across 5 states after implementing the RA 2020 Certification Standard. The program aims to establish a credible traceability system. We have not only built farmers’ capacities to improve yield quality, but we also pay a premium to those whose produce are Rainforest Alliance certified (formerly UTZ-certified).

COTTON

Since 2017, over 10,000 farmers in Katsina state have benefited from the WACOT Cotton Outgrowers program.

The program involves mobilizing and recruiting cotton growers, distributing input loans, training farmers using demonstration plots, and closely supervising farm operations.

In summary, WACOT’s sustainability efforts span cocoa, sesame, and cotton value chains, focusing on farmer empowerment, quality improvement, yield enhancement, and sustainable practices across various states.

Sesame

WACOT implements a sesame outgrowers and organic farm sustainability program. Through this initiative, they have increased smallholder farmer incomes, improved the quality and yield of produce, and given the farmers access to credit and markets.

Activities include mobilizing over 10,000 farmers into cooperatives, providing over ₦100 million yearly in the form of input credit financing, ensuring a guaranteed market through buyback arrangements, and training farmers on Good Agricultural Practices and Yield Enhancement Techniques.

IMPACT DATA AND MONITORING

Monitoring and Evaluation (M&E) plays a crucial role in assessing progress and impact. WACOT employs M&E to track the implementation, outcomes, and impacts of sustainability activities. They use technology to gather data, including crop growth stages and traceability, aiding in performance evaluation and yield estimation.
In summary, WACOT's sustainability framework encompasses responsible sourcing, capacity building, empowerment, social investment, and sustainable partnerships across various agricultural value chains. We emphasize women's empowerment, reducing child labour, gender equality, climate action, and technology-driven impact assessment.