17 August 2020
VIVE Co-Founder Czarnikow wins Singapore International Business Award 2020
The VIVE team are pleased to announce a further major recognition of the success of the VIVE programme. Czarnikow Group, 50% owner of the VIVE programme, has won the Food and Beverages category in SBR International Business Awards for its work in the Czarnikow Singapore office.
The recent completion of the first fully sustainable end-to-end sugar trade played a vital role in the winning of the award. The trade was made in collaboration with VIVE participants, and demonstrated Czarnikow’s ability to facilitate the seamless physical flow and financing of high volume sustainable sugar, from the sourcing of raw product to the final delivery to end-users.
This achievement is particularly significant for the VIVE Programme as it is the first of it's kind. The trade flow put the founding principles of the programme into action by enabling full traceability across a sugar supply chain and involving participants at every stage. 50,000 metric tonnes of sustainably sourced sugar, valued at almost USD$ 16 million, was purchased from Usina Santa Terezinha in Brazil, moved to Malaysia by The China Navigation Company, financed by OCBC Bank, refined by Central Sugars Refinery and purchased for end use by Fraser and Neave.
Czarnikow Singapore (Czarnikow Sugar Pte Ltd), now celebrating 50 years in Singapore, was ideally positioned to use its strong relationships within South East Asia to bring together regional stakeholders and create sustainable collaboration. This is evidenced via the use of The China Navigation Company Pte Ltd (CNCo) as the shipping line, the Central Sugar Refinery (CSR) as the refiner with OCBC bank offering sustainability linked trade facility.
The ability for the VIVE programme to establish and work alongside new partners in shipping and green finance is another major achievement. With Czarnikow being long time partners of OCBC and CNCo the VIVE Programme looks forward to continuing the collaboration to complete more sustainable trades in the future.
The VIVE team would like to say thank you to all the stakeholders involved in this trade all of whom have displayed a firm commitment to sustainable development.