Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Nov 18): The Roundtable on Sustainable Palm Oil (RSPO), an international grouping tasked to promote the growth and use of certified sustainable palm oil (CSPO), is targeting a take-up of 50% CSPO by the industry in Malaysia and Indonesia by 2020, as part of its initiative to create greater awareness on sustainable palm oil.

RSPO secretary-general Datuk Darrel Webber said European companies are leading the charge internationally, with a target to achieve 100% CSPO take-up by 2020, while that of India is 30% and 10% in China.

"The Chinese government is starting to talk about policies on sustainable palm oil for companies that want to invest in plantations and how they should operate there," he told a news conference after the opening of RSPO's 13th Annual Roundtable Meeting today.

"RSPO is one of the benchmark that they refer to, and our challenge is to get more Chinese companies to be aware about sustainable palm oil," he said.

He added that the UK, for example, has declared that more than 90% of its imported palm oil are now certified as sustainable.

RSPO co-chairperson Datuk Carl Bek Nielson, who is also United Plantations Bhd's non-independent vice chairman, said in order to make the sustainable palm oil agenda a success, there needs to be participation from various segments of the society.

"The last 11 years of work has pushed it towards this direction, and it is important (for us) not to lose that momentum," Nielson added.

The three-day roundtable discusses the roadmap for the industry and realignment of plans to achieve a globally shared vision of market transformation towards sustainable palm oil.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

      Print
      Text Size
      Share