KUALA LUMPUR (May 3): Felda Global Ventures Holdings Bhd (FGV) confirmed it has decided to withdraw its Roundtable for Sustainable Palm Oil (RSPO) principles and criteria certificates at its 58 complexes or palm oil mills nationwide beginning today.

FGV, however, did not provide reasons for withdrawing its certificates from its complexes.

The latest announcement confirms The Edge Financial Daily’s report today that FGV made a request for the withdrawal of the certificates from its 58 complexes, which refers to its palm oil mills.

The report quoted a person familiar with the group had said the request for withdrawal of RSPO Principles and Criteria (P&C) certificates could relate to peat soil within the group’s marginal hectarage.

In a filing with Bursa Malaysia, FGV said however, it remains a RSPO member and remains committed to the RSPO principles and criteria.

“This exercise does not affect FELDA Group's RSPO Supply Chain Certification System (SCCS) certificate of its kernel crushing plants and downstream refineries,” the plantation group’s announcement stated.

“FELDA Group is currently addressing all sustainability issues along the supply chain.

“This exercise allows a more inclusive certification between commercially-managed plantations by FGV and FELDA smallholders,” FGV added.

FGV, one of the founding members of RSPO, has a land bank of around 431,622 hectares (ha), which includes 353,260-ha under land lease agreement with FELDA group.

FGV share price gained one sen at RM1.46 today, for a market capitalisation of RM5.29 billion.