CIIE in the eyes of global CEOs | Fonterra: Leading the shared future of dairy nutrition and sustainability
The China International Import Expo has become a popular platform for global firms to connect with China and the world since its inception in 2018. We invited the CEOs of some companies attending the 6th CIIE to share their perspectives and highlight some of their accomplishments this year.
The China International Import Expo stands as a pivotal platform that enhances trade, fosters mutual understanding and unlocks growth opportunities between China and the world. As a leader of dairy nutrition from New Zealand, Fonterra is honored to have participated in CIIE for six consecutive years.
For more than 40 years China has been a growing market for New Zealand and therefore Fonterra. Over this time, we've seen a rapid pace of change as we continue to innovate and work together to achieve outcomes that benefit both New Zealand and China.
CIIE provides another opportunity for this work to continue as we look to build on these partnerships and continue to provide high quality innovative dairy nutrition to our customers here in China.
Over the past five years, Fonterra's engagement in CIIE has seen a fivefold expansion in booth size and contract numbers. Our theme has evolved from "one bite of New Zealand" to a more profound focus on "Sustainability and Cheese Nutrition."
Through the CIIE platform, Fonterra brings the goodness of New Zealand dairy to the Chinese market and shares a vision of future growth with China. We have achieved successful growth in China for over four decades. Now China is one of the most important strategic markets for Fonterra.
A globalized and connected economy is beneficial to all the industry players. Attributed to China's increasing openness to the world, China and New Zealand established a stable relationship between the two countries and upgraded the free trade agreement.
In this context, there is strong alignment between Fonterra's priorities and Chinese government priorities such as nutritional targets for dairy consumption and China's sustainability targets of emission reduction. Opportunities abound for us to collaborate in addressing these challenges and shaping a shared future. This also underpins our unwavering commitment to long-term development within the Chinese market.
Innovation is a common theme of Fonterra's history and success in China. As a trusted partner, Fonterra is committed to sharing our advanced technology, industry expertise and insights with our partners to grow together with the local industry and society.
At CIIE 2023, Fonterra provides sustainably produced, high-quality and nutritious dairy products from New Zealand with locally driven innovative solutions to meet the needs of Chinese customers. Notably, we showcase a diverse array of new products and applications co-created with local customers, responding to the unique "China Speed."
Today, consumers are in pursuit of increasingly nutritious solutions to enhance and protect their personal health. Fonterra is proactively capturing this latest trend and developing new applications with a particular focus on cheese nutrition. Fonterra's key products introduced in CIIE 2023 demonstrate the nutrition advantages to meet the growing nutrition and health demand of market and contribute to the country's priority of Healthy China.
Fonterra aspires to be a leader in sustainability. For decades, we have been committed to producing dairy nutrition in a manner that cares for people, animals, our environment and creates value for our communities. On a global scale, our aspirations encompass achieving Net Zero by 2050 – with plans to invest NZ$1 billion in sustainability initiatives by 2030. Recently, we have elevated our decarbonization ambitions by aiming for a 50 percent absolute reduction in Scope 1&2 emissions by 2030, relative to a 2018 baseline.
In the Chinese market, we remain resolute in our dedication to aiding the industry in achieving sustainability together. This year at CIIE, Fonterra will join hands with industry partners and associations to launch environmental protection initiatives in support of the sustainable development of the local community.