Base of the Pyramid Consumer Insight
In FY17, Naandi and a professor from HEC Paris, a leading French business school, created AZAO, an independent social business, and offered Firmenich colleagues who designed the Shared Senses program a seat on AZAO’s advisory committee.
AZAO works side by side with corporations, institutions, and NGOs to bring innovative solutions to social issues. Beyond consulting services, AZAO also manages a specialized training module and a research unit dedicated to base of the pyramid strategies, which will help Firmenich tackle challenges of sanitation and nutrition models for the lowest-income populations.
In FY17, with AZAO, we conducted a qualitative and quantitative study on low-income consumers’ usage and attitude towards sanitation in Pune, India. Twentyfive students of the Mahindra Pride School of Pune were recruited and trained to conduct more than 300 interviews.
The results were presented at the Annual Meeting of the Toilet Board Coalition in Amsterdam, in February 2017. The quality of the results was especially useful to the sanipreneurs who very often do not have the ability to conduct consumer insight studies.
Professor Djordjija Petkoski from the Wharton School of the University of Pennsylvania conducted a case study on our engagement of low income consumers in India. Download the case study.
Gold Standard Carbon Credit
Firmenich is, with Danone, the only company to have invested in both Livelihoods-operated funds. The Livelihoods Carbon Fund (LCF) has nine ongoing projects delivering tangible results. These projects seek to improve the livelihoods (revenues, health, and empowerment) of one million people by planting 130 million trees and equipping 120,000 households with efficient cook stoves. They will also help mitigate climate change by sequestering about 10 million tonnes of CO2 over 20 years.
Launched in 2015, the Livelihoods Fund for Family Farming (L3F) will invest € 120 million over 10 years, to convert 200,000 farms to sustainable agricultural practices and positively impact the lives of two million people. Projects are currently being designed in Africa, Asia, and Latin America. In November 2016, Firmenich attended the United Nations Climate Change Conference (COP22) in Marrakech and spoke at a panel organized by the Livelihoods Fund. In Marrakech, we reconfirmed our commitment to combating climate change and demonstrated how we are putting the Paris Agreement into action. Our presence at COP22 builds on our participation at last year’s United Nations Climate Change Conference (COP21), where we announced our industryleading environmental goal to become carbon neutral.