Nicolas Mounard, Vice President of ESG, Sustainability & Traceability at Barry Callebaut, described the company’s upcoming ‘Price Tag’ study as a “cornerstone” for the future of sustainable cocoa.
“The ‘Price Tag’ study addresses a critical and often overlooked question: What does it actually cost to transform a cocoa farming system?” said Mounard. “Preliminary insights point to a substantial gap between current investment levels and what’s truly needed to drive lasting change.”
Set to be completed in early 2026, the study aims to provide an empirical foundation for scaling investment and policy reform across cocoa-producing nations. “By establishing a ‘price tag,’ we can foster informed and constructive dialogue across the sector,” Mounard added. “This is about moving from sustainability as a programme to sustainability as transformation.”
The Economics of Transformation
Barry Callebaut’s sustainability drive is anchored in its long-term Forever Chocolate strategy, which seeks to make sustainable chocolate “the norm”. The company’s country-specific so-called ‘North Star’ frameworks serve as blueprints for modernising cocoa production through three core levers: yield, climate, and price.
In Côte d’Ivoire — the world’s largest cocoa producer — these frameworks are being applied to boost on-farm investment, protect forests, and ensure more equitable value distribution to farmers. Mounard said the approach “recognises that sustainability programmes alone are not enough,” emphasising the need for “the right interventions, the right enabling environment, and the right level of investment.”
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Key Results: Traceability, Livelihoods, and Emissions
According to the 2024-25 Impact Report, Barry Callebaut has:
- Mapped 1.5 million cocoa farms, meeting European Union Deforestation Regulation (EUDR) traceability requirements ahead of the expected 2026 deadline.
- Lifted 557,739 farmers above the poverty line — surpassing its 10-year target.
- Implemented agroforestry systems across 24,301 hectares and launched a 1,200-hectare assisted natural regeneration programme.
- Remediated 51,420 cases of child labour, a 24.8% increase over the previous year.
- Reduced emissions by 20% and committed to a 30% further reduction by 2030 en route to Net Zero by 2050.
The company’s ‘Forever Chocolate’ pillars — Prospering Farmers, Human Rights, Thriving Nature, and Sustainable Ingredients — remain central to its transformation agenda. Each aligns with the evolving global regulatory landscape, including compliance with the EU Deforestation Regulation (EUDR), Corporate Sustainability Reporting Directive (CSRD), and Corporate Sustainability Due Diligence Directive (CSDDD).
From Programmes to Policy
Industry analysts see Barry Callebaut’s Price Tag initiative as part of a broader push for financial realism in sustainability planning. By quantifying transformation costs, the company aims to mobilise both private and public capital into a sector facing acute climate and supply pressures.
In December 2024, cocoa prices reached an all-time high of over $12,000 per metric ton, driven by erratic weather and disease outbreaks. As ageing trees and yield losses continue to challenge producers, the economic sustainability of cocoa farming is increasingly tied to climate adaptation and income diversification.
Barry Callebaut’s North Star approach — combining yield enhancement, climate resilience, and fair pricing — is designed to address those structural risks head-on.
Looking Ahead
Mounard said the Price Tag study is intended to catalyse “sector-wide action, not just corporate compliance.”
“To truly transform cocoa, we must align ambition with the financial reality of what transformation costs,” he said. “That’s what the ‘Price Tag’ is about — transparency, accountability, and investment at scale.”
CocoaRadar’s view
With global regulatory scrutiny tightening and market expectations rising, Barry Callebaut’s next move may redefine how sustainability is valued — not just as a moral imperative, but as a measurable economic proposition.
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