FGV on track to earn premiums for its Certified Sustainable Palm Oil products in Q1 2018
Malaysia-headed palm oil industry major Felda Global Ventures (FGV) has announced that it has received its Roundtable Sustainable Palm Oil (RSPO) Principles and Criteria (P&C) certification for eight mill complexes at the end of 2017 following its voluntary withdrawal from the RSPO certification in May 2016. The certified palm oil mills are expected to produce over 200 000 tonnes of Certified Sustainable Palm Oil (CSPO) and almost 60 000 tonnes of Certified Sustainable Palm Kernel Oil (CSPKO).
Aside from capitalising on the premium offered, FGV says that it will be able to access markets in the European Union (EU) and North America, as well as customers that demand certified palm oil products.
This is indeed a good start to the year, thanks to the committed workforce in FGV who have embraced our transformative sustainability programme that we embarked on in May 2016, said Group President and Chief Executive Officer, Dato’ Zakaria Arshad.
Back in May 2016, whilst remaining a member of RSPO, FGV had withdrawn its RSPO P&C certificates of its mill complexes, acknowledging that there were labour and social issues along its supply chain that needed to be addressed.
We feel it is important to address the areas where there were the most concerns first. In 2018, we aim to certify another eight mill complexes by March and more than 30 mill complexes will have been audited by RSPO and Malaysian Sustainable Palm Oil (MSPO) by end of December. One of our key strategies has been the introduction of our Group Sustainability Policy (GSP) which applies throughout our operations, subsidiaries and contractors to address the gaps and create a more inclusive supply chain. The GSP places greater emphasis on enhancing value to our shareholders and stakeholders in a sustainable and inclusive manner, said Dato’ Zakaria.
FGV plans to certify its 70 palm oil mills complexes to RSPO and The Malaysian Sustainable Palm Oil (MSPO) by the end of 2021.