Nestle said it was a not money-saving decision and will spend the same amount on cocoa from its farmers over the next year.
It said it will also invest in a series of initiatives to support farmers and communities, including £1 million to improve incomes and a further £500,000 on community projects.
Billington added: “Our expanded partnership with the Rainforest Alliance underlines our commitment to sustainable cocoa sourcing throughout our global supply chain.
Nestle has vowed to help farmers
“Our successful partnership with Fairtrade is ending as we harmonise our certification for sustainable sourcing internationally. The Rainforest Alliance has significant experience working with cocoa farmers in understanding and implementing robust sustainability criteria that drives positive change, and we look forward to deepening our collaboration in the coming years.”
Alex Morgan, chief markets officer at the Rainforest Alliance, said: “We’re delighted Nestle is strengthening its position in the cocoa sector and unifying its responsible cocoa sourcing commitment across all of its portfolios.
“Our certification programmes continue to connect companies, consumers, farmers and businesses committed to protecting the health of ecosystems, workers, and communities by using social and market forces to protect nature and improve the lives of food producers.”
