home
> News
> New Reporting Guidelines Aiming to Shed Further Light on Palm Oil Industry
New Reporting Guidelines Aiming to Shed Further Light on Palm Oil Industry
January 24, 2017
New Reporting Guidelines Aiming to Shed Further Light on Palm Oil Industry
January 24, 2017
by Sustainable Brands
With rainforest destruction and forced labor still urgent concerns in palm oil cultivation, a diverse group of NGOs and investor organizations, organized by Ceres, today released shared guidance for corporate reporting on company commitments towards responsible palm oil sourcing and production.
Collaboratively developed by over 18 organizations including Oxfam, Rainforest Alliance, CDP and Rainforest Action Network, with input from companies, the guidance document aims to inform corporate reporting and supply chain engagement. The diverse group, which encompasses a range of perspectives on the palm oil challenge, came together to develop the guidance to create consistency and clarity for companies in the palm oil value chain on reporting.
“Numerous companies are putting resources towards sustainable palm oil, yet deforestation, land conflicts, and labor issues persist,” said Noah Klein-Markman, Senior Associate for Sustainable Agriculture at Ceres. “Transparency on supply chain practices is critical for all stakeholders – investors, civil society groups, and businesses - to understand and address the implementation gap.”
Palm oil is the world’s most abundant vegetable oil and a common ingredient in many food and household products. In Indonesia, where nearly half of the world’s palm oil is produced, forests and carbon-rich peatlands are being cleared faster than in any tropical nation, accounting for as much as 79 percent of the country’s greenhouse gas footprint. Much of this impact is caused by the expansion of the palm oil industry. Forced and child labor, as well as land rights violations, are also widespread in the industry.
Read more at Sustainable Brands.
category : Topics
