Palm giant Golden Agri renews green push after criticism on land use
- Wed, 2015-06-17 (All day)
Singapore-listed palm giant Golden Agri-Resources has renewed its commitment to sustainability to address customer concerns after an international body accused one of its Indonesian subsidiaries of breaching land acquisition rules.
Last month, a Golden Agri subsidiary was ordered by the Roundtable on Sustainable Palm Oil (RSPO) to halt buying or developing new plantations in Indonesia, a move that caused concern among buyers and traders and was seen as a test case for local land rights.
The RSPO is a body of consumers, green groups and plantation companies that promotes sustainable palm oil production. Membership in the group is seen by many European edible oil buyers as the industry's sustainability benchmark.
The RSPO can withdraw a company's membership, which could lead to lower purchases by Western consumers concerned about the environmental impact of the palm industry.