WORLD: Sustainable commodities see double-digit growth
Sustainable commodities such as organic cotton are enjoying major growth thanks to a surge in private sector sourcing commitments, says a new report.
The State of Sustainability Initiatives (SSI) Review 2014, published by an alliance of international organisations, analyses the market trends of the 16 most used standards initiatives, including Organic, Fairtrade and Rainforest Alliance.
It found double and triple digit growth across the majority of initiatives surveyed for the year 2012, ranging across ten leading commodity sectors, with certified goods having an estimated trade value of US$36.1bn – and much more in market terms.
The report said voluntary sustainability standards were “gaining traction” in mainstream markets, with companies highlighted including sporting goods business Adidas.
“The growing number of companies that have made commitments to source sustainably illustrates the critical role that the private sector plays in overall market growth of products certified under these initiatives,” the report said.
The average annual growth rate of certified sustainable production across all commodity sectors, excluding biofuels, was 41% in 2012, compared to just 2% in the corresponding conventional commodity markets.
Meanwhile, sustainable cotton production was up 55% over the same period, the report said.
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