Indigenous Peoples are critical to building a more sustainable post-pandemic world, says IFAD President

Esan Bolaji
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Indigenous Peoples are critical to building a more sustainable post-pandemic world, says IFAD President
2 February 2020 –  Indigenous Peoples have suffered disproportionately from the economic impacts of COVID-19, yet they hold essential knowledge for rebuilding a more sustainable and resilient post-pandemic world, free of poverty and hunger, said Gilbert F. Houngbo, President of the UN’s International Fund for Agricultural Development (IFAD), at the opening of the Fifth global meeting of the Indigenous Peoples’ Forum today.  

“COVID-19 has devastated the lives of millions of people across the globe. But this dreadful plague also drives us to find ways to live more harmoniously with nature,” said Houngbo.

Tanzania - First Mile Project - March 2006
Naimutie Mleole plants maize seeds in Mswagini village.
“I have never seen an agriculturalist coming to us in many years,” says Naimutie.
Mswagini village, Monduli, Arusha, Tanzania.
Focusing on small-scale farmers, traders, and food processors, the First Mile Project works with rural communities to improve access to markets as well as information technology. By connecting suppliers with markets, the project aims to increase earning potential and alleviate poverty in rural areas.

“We know that the only way to achieve this is by joining forces with Indigenous Peoples – who are stewards both of nature and of a vast reservoir of traditional knowledge around the world.”

This biennial meeting held virtually this year, focuses on The value of indigenous food systems: resilience in the context of the COVID-19 pandemic. Hosted by IFAD, it brings together 154 indigenous leaders from 57 countries, as well as representatives of development organizations and governments, to discuss indigenous food systems and the resilience they have displayed in the face of COVID-19, and how to address challenges and opportunities moving forward.

His Holiness Pope Francis, in a message read on his behalf, said there is a need “to promote a development without embracing consumption as both the means and the end; it means truly looking after the environment to listen, learn and respect.”

The Pope added: “Only in this humility of spirit will we definitively overcome hunger and achieve a society based on enduring values that flow not from one-sided passing trends but rather from justice and goodness.”

Among the participants was Margaret Tunda Lepore, member of the Maasai peoples in East Africa, who said that her community’s situation has worsened due to the pandemic, which “poses serious threats to indigenous economies, whose ways of life are already compromised by the various challenges posed by climate change and land tenure.”

She added: “The presence of this pandemic made Indigenous Peoples more vulnerable and marginalized than before.“

The COVID-19 pandemic poses a grave threat to Indigenous Peoples around the world and is disproportionately affecting their communities, exacerbating underlying structural inequalities and pervasive discrimination. Access to food and safe water has decreased, local and traditional economies have been disrupted.

As lockdowns continue in numerous countries, indigenous communities whose land rights are denied or who do not have self-determination on their territories are not able to exercise control over their food production, losing their livelihoods and reducing their ability to sustain themselves.

Nevertheless, Indigenous Peoples have applied their own solutions to cope with the pandemic.

Their lifestyle, food systems, culture and connection to their lands have been a great source of resilience in the face of COVID-19. They have acted using their own traditional knowledge and practices, including voluntary isolation and sealing off their territories, as well as using preventive care measures in their own languages, in order to keep their communities alive.

“You have shown how resilience needs to build from the grassroots up, incorporating the best of traditional knowledge and maintaining a connection with nature,” Houngbo told Forum participants. “Bringing indigenous knowledge and practices into global food systems can spur new and creative solutions to the challenges we face, especially climate change. And it can help put an end to bad practices that harm Indigenous Peoples and nature.”

Indigenous Peoples play a critical role as stewards of the environment, with 80 per cent of the world’s remaining biodiversity found on indigenous territories.

The Indigenous Peoples’ Forum runs until 4 February, followed by an Indigenous Week (8-12 February) with a dialogue on biodiversity conservation. The closing session of the Forum is on 15 February.

IFAD supports projects focusing on Indigenous Peoples to ensure the protection, promotion, re-introduction or revitalization of local traditional crop varieties, food systems, seeds systems, agrobiodiversity and agroecological systems. Since the beginning of its operations four decades ago, IFAD has approved 245 projects supporting at least 42 million indigenous people.

LBS Alumnus, Oluwatobi Ajayi emerges Best Entrepreneur at 2021 AMBA & BGA Excellence Awards

Esan Bolaji
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LBS Alumnus, Oluwatobi Ajayi emerges Best Entrepreneur at 2021 AMBA & BGA Excellence Awards

Lagos Business School’s Modular Executive MBA (MEMBA 6) alumnus, Oluwatobi Ajayi has emerged winner of the Best Entrepreneur Award at The AMBA & BGA Excellence Awards 2021 held on Friday, January 29.

Organised by the Association of MBAs, The AMBA & BGA Excellence Awards brings together leading lights from the global business education community to celebrate excellence and commend achievement among AMBA-accredited and Business Graduate Association (BGA) business schools, MBA students and graduates, suppliers and employers.

LBS Alumnus, Oluwatobi Ajayi emerges Best Entrepreneur at 2021 AMBA & BGA Excellence Awards Brandspurng
Oluwatobi Ajayi | www.brandspurng.com

Ajayi, who is the CEO of a homegrown automotive manufacturing company, Nord Automobiles, was nominated in the Best Entrepreneur Award category alongside entrepreneurs from top business schools such as Cranfield School of Management, UK; Graduate School of Management, Saint Petersburg State University, Russia; and Kent Business School, UK.

The category celebrates the achievements of successful alumni in innovative world-class business strategy and showcases business schools that are nurturing a spirit of enterprise and ambition.

Lagos Business School’s MBA Director, Dr Henrietta Onwuegbuzie expressing her delight for the School’s victory at the awards said,

“Coming on the heels of our recent achievement on The Economist ranking table, it has become apparent that the quality of business education offered at Lagos Business School is globally recognised and fit to compete with any other in the world. Our victory at The AMBA & BGA Awards charges us to continue to impact lives and societies, and we look forward to reaping more benefits from this in 2021”.

Lagos Business School also won in the Best Corporate Social Responsibility category for its initiative, LBS Sustainability Centre through which it is “creating a sustainable future and teaching students about social values; as well as making a positive impact in practical and measurable ways.”

The School beat five other business school finalists including IPADE Business School, Mexico and Hanken School of Economics, Finland to win in this category.

Held virtually for the first time, the 2021 edition of the event is the AMBA’s biggest ever celebration of business schools and their graduates.

Why inflation is important

Coronation Merchant Bank
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Why inflation is important

Last week, and as widely forecast, the Monetary Policy Council (MPC) of the CBN left its monetary policy rate (MPR) unchanged at 11.50%. This came against a background of uncertainty about the timing of Nigeria’s exit from the recession and against a background of headline inflation (for December 2020) of 15.75% year-on-year (y/y).

To have both high inflation and a recession is a painful combination, and the MPC’s official communique acknowledged this with the statement that “the economy is currently in a stagflationary environment.”

To the question as to which to prioritize, price stability or growth, the communique’s answer was, unequivocally, to “continue pursuing price stability in growing the economy,” i.e. growth.

Inflation Rate to rise by 13.49% YoY in September - Analyst
Photo by Ima Enoch on

But what is the cost? When we look at inflation we notice that not only is it trending up, but that the rate of increase is also climbing. More importantly for the consumer, food inflation rose from 14.85% y/y in January 2020 to 19.56% y/y in December.

To put this in context, our 2019 study of a low-income household (see Coronation Research: Power to the Price Point, May 2019) estimated that 50% of its income was spent on food and of this 70% (35% of total income) was spent on unbranded goods such as beans, yam and eggs. This suggests that low-income households are feeling the squeeze.

According to the MPC’s communique food inflation is largely a structural issue: “Members reiterated the adverse impact of insecurity on food production, stressing that the current uptick in inflationary pressure could not be solely associated to monetary factors, but due mainly to legacy structural factors across the economy, including major supply bottlenecks across the country.”

But notice, in this sentence, that monetary factors are acknowledged as part of the inflationary problem. (The CBN long-term target of inflation is a range between 6.0% and 9.0%.)

The MPC cut its policy rate as the economy went into recession. But its work in reducing market interest rates both preceded the recession (and the onset of the COVID-19 pandemic) and was much more dramatic.

The yield on a 1-year T-bill fell from 5.40% in January 2020 to 0.15% in early December (and the dramatic downtrend started in October 2019). Bank credit grew strongly in 2020, having flatlined during the first half of 2019. This suggests a large flow of liquidity into a contracting economy.

The MPC’s communique, to be fair, includes some optimistic statements about inflation, notably that it expects it to decline in the near term “as the economy’s negative output gap closes.”

Nevertheless, in our view, there has already been considerable damage done to company balance sheets (erosion of equity through inflation) and household finances. A resumption of GDP growth cannot come too soon.

Why inflation is important
Source: National Bureau of Statistics (NBS) *Q4 2020 GDP is estimated by Coronation Research a negative 3.43% y/y

On the subject of managing inflation, the MPC is undoubtedly right to include monetary factors among its causes, and most people would agree that structural factors are critical, too, especially during times of insecurity.

Depreciation of exchange rates is also an important factor. Another argument against putting a lot of emphasis on monetary factors is that the financial sector in Nigeria is small relative to the economy as a whole, with outstanding commercial bank credit at around 10.0% of GDP.

Therefore, an expansion in credit may not have the same inflationary effect in Nigeria as it would in an economy where credit is much more widespread, to begin with.

Bank credit and Money supply rebased, 1 Jan 19 = 100, and inflation

Why inflation is important Brandspurng1
Source: National Bureau of Statistics (NBS), Central Bank of Nigeria, Coronation ResearchOn the other hand, bank credit to the private sector has been rising at the same time as inflation has been going up.

Commercial bank credit to the private sector did not grow in the first half of 2019, then rose as the loan-to-deposit ratio (which stipulates the percentage of customer deposits that banks must reach in terms of loans) was imposed from mid-2019 onwards.

The LDR was originally set at 60.0% and was later raised to 65.0%. As market interest rates fell during 2020 it became easier to expand credit and companies that were hit by the recession were eager to take it.

It is true to say that the LDR policy has worked, and fair to argue that a combination of the LDR policy and falling interest rates likely prevented the recession from being worse than it has been. However, it would also be reasonable to think that credit expansion has been a contributory factor in inflation.

If this is the case, then the current environment of rising market interest rates may slow the growth of credit over the coming months and, possibly, inflation may then moderate with a lag of between two to three months.

Consumers Receive Special Packages from Burna Boy And Star Lager Beer

Esan Bolaji
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Consumers Receive Special Packages from Burna Boy And Star Lager Beer

Consumers Receive Special Packages from Burna Boy And Star Lager Beer Brandspurng1

Consumers Receive Special Packages from Burna Boy And Star Lager Beer Brandspurng1

The Journey to Gender Equality in Kenya and Nigeria

Kantar
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The Journey to Gender Equality in Kenya and Nigeria

How policy intervention and media representation play critical roles in getting closer to the 2030 SDG Goal 5 of gender equality.

Although public pressure for female empowerment may be building in Africa as in different parts of the world, entrenched attitudes continue to hold African women back.

Data from Kantar’s latest Reykjavik Index for Leadership research and the UN Women Gender Equality Study demonstrate there is much work to be done in the fight for gender parity and both policy intervention and media representation will play a critical role in overcoming the complex and interlinked barriers on this journey to gender equality.

The Journey to Gender Equality in Kenya and Nigeria

Women politicians underrepresented in Nigeria and Kenya

In November 2020, Mahmood Yakuba, Chairman of INEC (Independent National Electoral Commission in Nigeria), presented the report “Review of the 2019 General Election”, which highlights some of the challenges associated with the preparation and conduct of the 2019 Nigerian election, as well as recommendations to improve processes in the next electoral cycles.

According to the report, only 13% of candidates in the 2019 Nigerian elections were women, and only 5.3% of seats are currently held by women.

In Kenya, there has been a number of important political gains made by women during the 2017 general elections: for the first time in Kenya’s history, women were elected to serve as governors and senators.

Today, 25% of the Kenyan government is made of up female politicians – building momentum towards the government’s mandate to have 33% of all government seats filled by women.

Over the past few months, many Kenyan politicians – both male and female – took great pride in the role played by a female Kenyan national on the US presidential campaign team: Esther Ongeri, with a BA in Political Science and Government, has served as the Director of Special Projects on the Biden/Harris campaign. Kenyan media has celebrated this example of female empowerment and held this up as an example of what can be achieved.

Despite role models in place, societal norms towards gender equality are hard and slow to shift

Great attention has also been paid by media in both Kenya and Nigeria to Kamala Harris’s designation. Her inauguration as Vice President was considered by many as a significant achievement in gender equality, and has reached – and no doubt inspired – many women across these two African countries through both mainstream and social media.

However, our most recent Reykjavik Index for Leadership 2020-2021 data shows how much work remains to be done, with Kenya and Nigeria behind the curve when it comes to attitudes towards gender equality in leadership. While most women in Nigeria (57%) are comfortable with the idea of a woman as head of government, only 31% of males feel similarly.

In Kenya, only half (50%) of women are comfortable with a woman as head of government; 30% for men. Surprising figures perhaps, given Kenya has been more successful with female politicians in situ (25%) compared to Nigeria (5.3%). These figures show that even with role models in place, entrenched attitudes are hard and slow to shift.

The journey to gender equality in Kenya and Nigeria

Our UN Women Gender Equality Study reveals more about the barriers and beliefs that are holding women back and inhibiting progress towards the mission of the Sustainable Development Goals (Goal 5 – Achieve gender equality and empower all women and girls).

The data shows that women in both countries believe they have less control over their lives when it comes to education, employment, social standing and personal finances. Hence it is difficult, if not sometimes impossible, for them to aspire to hold positions of strength in society, particularly in owning or buying property, running for elected office, or rising to powerful roles in business.

Financial independence is something they might dream of, but few have full confidence it can be attained, not only because of the laws that inhibit gender equality but also because of societal behaviours and systems that discourage it.

The journey to gender equality in Kenya and Nigeria The journey to gender equality in Kenya and Nigeria

Too many decisions within the household are controlled by men and women do not have equal say or power. The role of the woman is driven by a belief that her place is in the home, and any work outside the home means the children will suffer more than if men work outside the home.

This attitude is compounded by the societal acceptance that women should not earn the same pay as men, even if doing the same tasks and women do not have the same ability to own property or position themselves as head of household by contributing more financially. If men remain fearful of women’s success, and women themselves do not advocate for it, it is unsurprising that progress towards gender equality is slow.

54% of Nigerians and 42% of Kenyans believe that the media contributes to gender bias by only portraying men in certain powerful roles and women in traditional, familial roles. 55% of Nigerians believe that by doing so, society limits its expectations of women to staying within traditional roles and not extending beyond them.

39% of Kenyans would also agree. Yet three-quarters of citizens from both countries (74% of Nigerians and 77% of Kenyans) believe it is essential for society, as a whole, to treat women as equal.

Regulations will be critical to overcome the societal barriers and cultural beliefs holding women back

The evidence suggests that progress towards gender equality in these countries will not be easy. Nigeria is behind the curve on women’s political representation and lacks any mandate to address this.

Without regulations to prevent discrimination against women in employment, or to ensure equal pay for equal work, progress may come only through pressure from within Nigeria and the voices of current political leaders and citizens demanding change.

Indeed, there is a citizen appetite for change. When asked how important it is to balance the rights of women in Nigeria, almost 7 in 10 agreed it was important when it comes to women’s rights in education (76%), business (69%), healthcare (84%), financial equality (71%).

Kenya also has a long road ahead to achieve gender equality. The Kenyan National Bureau of Statistics reports that women make up only one-third of the employed workforce, yet they provide 80% of the farm labour market.

And despite their majority in the farm labour market, women own only 1% of the land, often through inheritance or where the head of the household is deceased.

Those women who do work in the formal sector earn 32% less than men which further embeds their vulnerability in society and makes it harder for them to get a high-quality education (36%), get hired as a skilled worker (25%), run for elected office (18%), own property (28%) and manage and control their finances (40%).

The role of policy interventions and media representation in the journey to gender equality

So, for change to happen in African countries, there are multiple structural and attitudinal barriers that must be addressed.

Women need the same access as men to a formal third level education, they need more access to family planning services, and more control over their lives and decisions within and beyond the household, including the right to participate in the labour market, gain experience and skills and climb the career ladder, with equal pay for equal work, if they so choose.

They need the skills and expertise to manage their finances and access to financial systems that give them equal rights related to land, property and running a business.

Alongside these structural changes and policy interventions, it may well be that the media can also play a powerful role in shifting entrenched attitudes and moving the dial towards greater gender equality.

The recently appointed, highly successful and influential women in seats of power across Africa and beyond, can be role models and also powerful advocates if they use their expertise, strengths and skills to push for gender equality and bring every country across the African continent closer to the 2030 SGD Goal 5 on achieving gender equality.

WPP and TikTok announce first-of-its-kind global agency partnership

Esan Bolaji
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WPP and TikTok announce first-of-its-kind global agency partnership

Partnership will focus on delivering new opportunities for creative excellence for WPP agencies and clients

WPP and TikTok, a leading destination for short-form mobile video, today announced an innovative global partnership to enable WPP agencies and clients to tap into the culture-shaping impact and reach of the platform. The partnership allows WPP clients to benefit from unique access and capabilities on the TikTok platform.

Recognizing the significant opportunities for brands that both short-form video and digital content continue to present, WPP will have early access to advertising products in development, ensuring WPP and its clients remain at the forefront of innovation as TikTok further develops its suite of products for brands.

WPP and TikTok announce first-of-its-kind global agency partnership Brandspurng

This includes partnering on marketing API integrations and next-generation formats, such as augmented reality offerings. Subvrsive, a WPP company, was one of the first TikTok Effects Partners.

TikTok will also collaborate with its talented creator community to build a diverse network of creators to partner with WPP and facilitate exclusive opportunities for collaboration with select advertisers.

WPP will be the Lead Agency Development Partner to new creator-focused APIs, which will incorporate WPP’s market-leading brand safety methodology while leveraging unique brand and marketer data signals.

The goal of these new solutions will be to enable brands to gain deeper insights on creators, connect with diverse voices and have early access to these creators for their campaigns.

Additionally, WPP and TikTok will co-create an industry-leading training and accreditation program for WPP agencies, which will secure priority access to content tailored to media and creative disciplines. This program certifies that WPP’s talent is leading the development of best-in-class creative and media solutions on the TikTok platform.

To further build brand safety solutions on the platform, GroupM, the media buying arm of WPP, and TikTok will continue to work on complete integration with third-party verification vendors, developing meaningful first-party inclusion and exclusion controls, and alignment with the GARM Brand Safety and Suitability Framework.

The companies also intend to jointly conduct market-leading research to guide brands on TikTok best practices and assist them with employing data-informed strategies for driving engagement on the platform. GroupM has already engaged TikTok on niche auction training and will continue advancing buying capabilities through its large network of specialists.

Mark Read, CEO, WPP, said:

“Our clients want new and innovative ways to reach consumers. TikTok has quickly demonstrated the power of mobile video and the many opportunities that exist for brands to engage in meaningful and creative ways on its platform.

I am delighted that we have formed this global partnership, a first in our industry, and look forward to working with TikTok to ensure our clients continue to benefit from what its platform has to offer.”

Blake Chandlee, VP of Global Business Solutions of TikTok, said: 

“More and more brands all over the world are experiencing the impact TikTok has to create moments that not only shape culture but also drive business value. Creative and media agencies play a major role in fuelling these creative campaigns, and we’re excited to partner with a global innovator like WPP as we build for the future.

We both share a common goal: to drive amazing campaigns for our clients that resonate with our growing audience in a way that is authentic, inspires creativity and brings joy. We look forward to delivering on this shared goal for WPP, its agencies and clients.”

Deere & Company releases its 2020 Sustainability Report

Esan Bolaji
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Deere & Company releases its 2020 Sustainability Report

Deere & Company released its 2020 Sustainability Report. Built around John Deere’s higher purpose — “We run so life can leap forward” — the report features how the company creates more sustainable outcomes for its customers, employees, dealers, suppliers, shareholders and the communities it serves.

The report also details John Deere’s progress toward achieving its 2022 Sustainability Goals and other environmental, social and governance priorities.

Photo by Scott Goodwill
Photo by Scott Goodwill

“We must act with urgency today to make the lives of our customers, workforce, and all those we serve better tomorrow,” said John C. May, chairman and chief executive officer, in a message included in the report.

“While the accomplishments presented in the 2020 Sustainability Report are a source of pride, they don’t represent the culmination of our efforts. For us, they are simply markers of what we’ve accomplished so far. More importantly, they serve as proof of the horizons yet to be reached especially when we remain true to our higher purpose. I am excited to see how far we all can leap.”

Highlights of the 2020 Sustainability Report include:

  • Revealing the sustainable outcomes farmers and contractors produce with John Deere technologies
  • Celebrating employee perseverance in the face of COVID-19
  • Unveiling of the X Series Combine, which averages 45 percent more harvesting capacity, while using 20 percent less fuel
  • Spotlighting the critical role of factory managers and the power of diversity

Tractors, Set up Assembly Plant JOHN DEERE BRANSPUR

Deere & Company is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction — those who cultivate, harvest, transform, enrich and build upon the land to meet the world’s increasing need for food, fuel, shelter and infrastructure.

The Equities Market Opened the Week on a Bearish Note…ASI Up by 13bp

Esan Bolaji
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The Equities Market Opened the Week on a Bearish Note…ASI Up by 13bp

The Nigerian equities market opened the week on a bearish note following bearish sentiments in bellwether stocks. The benchmark All Share Index (ASI) went down by 13bps to close at 42,357.90 with market capitalization shedding 28.65 to settle at N22.16tn. Consequently, the year-to-date performance moderated to 5.18%.

The breakdown across sectors shows indicates mixed performance with 3 out of the 5 sectors under coverage closing negative.

The banking, consumer goods and industrial indices contracted by 0.08%, 1.03% and 0.08% respectively following losses recorded in ACCESS (-1.61%), NESTLE (-3.65%) and JBERGER (-7.28%). Conversely, the insurance and oil & gas indices advanced by 0.37% and 0.22% on the back of bargain hunting in WAPIC (+9.26%) and SEPLAT (+1.02%).

Investors’ sentiment was positive as 35 stocks advanced while 28 stocks declined to indicate a 1.25x market breadth. Market activity level slows down with the volume and value of transaction declining by 12.40% and 8.61% respectively.

The Equities Market Opened the Week on a bearish Note...ASI Up by 13bps Brandspurng

Fixed Income Market

The bond market traded on a positive note with yield compressing across different maturities. The yield on the FGN-MAR-2025 and JUL-2030 declined by 32bps and 10bps to close at 6.35% and 8.9% respectively.

Treasury bills market traded on a  mixed noted as yield advanced on the 364-day maturities to 2.85% while that of the 92-day and 182-day tenor remained stable at 0.43% and 1.00% respectively.

Market Snapshot

  • The Equities Market Opened the Week on a bearish Note…ASI Up by 13bps
  • The bond market traded on a negative note as yield advanced on the mid-tenor instrument
  • U.S. Nasdaq Climbs 2% Amid Stock Rebound From Selloffs
  • Oil Gains With Broad Market Rally Adding to Tighter Supply View
  • Naira was stable against the USD at the  parallel market to close at N4809/$

Colgate® Keep Reduces Small Plastic Waste to Make a Big Difference

Esan Bolaji
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Colgate® Keep Reduces Small Plastic Waste to Make a Big Difference

Good brushing habits add up, but not always in a good way.

Over 495 million adult manual toothbrushes were purchased in the U.S. in 2020 and will likely end up in landfill because they cannot be easily recycled. 

Colgate is working its innovative muscle and magic to change that with the launch of Colgate® Keep. The company has made it their mission to take steps towards addressing this global matter by reinventing the manual toothbrush with a reusable handle to contain 80% less plastic*. 

Colgate-Palmolive Keep Starter Kit Silver

Colgate® Keep is designed with a snap-on replaceable brush head and a reusable aluminium handle to inspire people to make small steps that add up to significant impact. With availability online and at national retailers, Colgate® Keep is making less plastic more accessible for all looking for easy ways to reduce their plastic waste.

So why should reducing plastic waste be a priority in oral care? Due to their small size, a mix of materials, and limitations in municipal recycling capabilities, toothbrushes are not accepted in typical recycling streams. For ten years, through a partnership with TerraCycle, Colgate has recycled more than 5 million toothbrushes and other oral care items, diverting waste from landfills‡. Colgate® Keep provides an easier solution.

Colgate-Palmolive Keep Starter Kit Navy

Colgate knows people don’t want to sacrifice efficacy, which is why Keep will come with two bristle variants (Deep Clean with Floss-Tip bristles** and Whitening with spiral polishing bristles), as well as a cheek and tongue cleaner on the back of the brush head to get rid of more bacteria†.

It features a replaceable head that uses 80% less plastic* than traditional Colgate manual toothbrushes as well as a lightweight 100% aluminium handle that is long-lasting and comes in two colours, navy or silver. The outer cardboard packaging is made with 60% recycled content, all of which is recyclable.

If every manual toothbrush user in the U.S. switched to Keep, we would save the equivalent of over 400 million toothbrushes from entering landfills in one year alone.††

Colgate knows there is more work to do, especially when it comes to recycling small plastics.

As part of Colgate’s 2025 Sustainability & Social Impact Strategy, the company is focusing on three ambitions: promoting well-being and inclusivity; helping people develop healthy habits; and preserving and improving the environment.

Among the company’s social and environmental sustainability actions, a key target is to cut the amount of toothbrush plastic waste in half by 2025. Additionally, the company will eliminate one-third of new plastics as part of the transition to 100% recyclable, reusable, or compostable plastic packaging by 2025.

“The Colgate brand is in more homes than any other, so we can and we will create a healthier, more sustainable future for all. That’s why in Colgate’s 2025 sustainability goals, we pledge to reduce plastic waste from toothbrushes by 50%.

The launch of Keep is just one step towards our goal, with 80% less plastic vs. comparable Colgate toothbrushes. We know we have many more strides to make towards a zero-waste toothbrush future and are proud to be starting here,”

says Dana Medema, Vice President and General Manager at Colgate-Palmolive.

IFF to Complete Merger With DuPont’s Nutrition & Biosciences Business

Esan Bolaji
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IFF to Complete Merger With DuPont’s Nutrition & Biosciences Business

Feb. 1, 2021 – IFF to complete the previously announced merger of IFF and DuPont’s Nutrition & Biosciences (“N&B”) business, pursuant to a Reverse Morris Trust transaction today. The combined company will continue to operate under the name IFF. Shares of the combined company’s common stock will trade on the New York Stock Exchange under the symbol “IFF.”

“We are thrilled to officially unite IFF and N&B, forging a leader in the global consumer goods and commercial products value chain that will redefine our industry and create a leading ingredients and solutions provider for our customers across a broad range of end-markets,” said Andreas Fibig, IFF Chairman and Chief Executive Officer.

IFF earnings and sales decline in Q2; Increases Quarterly Dividend

“Our organizations have deep histories of creativity, innovation excellence and a shared commitment to care for our communities. With our combined platform, IFF is an essential partner for our customers, uniquely positioning us to address our customers’ evolving needs, unlock long-term value creation and accelerate our pursuit of new, creative and integrated solutions.

Through an unprecedented last 12 months, both the IFF and N&B teams have remained incredibly focused on executing our respective business plans and setting the foundation to bring this combination to life. I welcome our new N&B colleagues to the IFF family, and I look forward to working with Ed as we continue our integration efforts and focus on driving long-term, sustainable growth.”

“I’m extremely proud of what our teams have accomplished to complete the transaction on time despite a year of unprecedented challenges.

Andreas and the combined management team have planned and prepared for this integration and are committed to delivering for all stakeholders,” said Ed Breen, DuPont Executive Chairman and Chief Executive Officer, who joins the IFF Board of Directors and will become Lead Independent Director effective at the 2021 annual meeting of shareholders.

“As a global industry leader of highly valued consumer ingredients, the new IFF is well-positioned to deliver growth and to unlock long-term value for shareholders, customers and employees. I also want to salute our N&B colleagues for their contributions to DuPont and wish them success in the years ahead.”

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