The London Stock Exchange (LSE) reported that United Cacao Ltd. Managing Director and former Chairman Dennis Melka resigned from his post on Thursday, January 5, 2017. He resigned after United Cacao’s directors “unanimously resolved” to seek his “immediate termination”. Also on January 5, 2017, Strand Hanson Limited resigned as nominated adviser to United Cacao and as …
Sampoerna Agro Fined $81 Million for 2014 Fires On August 15, the Government of Indonesia fined Sampoerna Agro $81 million for 2014 forest fires on 3,000 hectares on its concessions in Riau Province, Indonesia. The $81 million fine is slightly less than Sampoerna Agro’s revenue in the first six months of 2016. Currently, Indonesia is …
Moody’s maintains negative outlook on IOI while IOI’s Q2 2016 earnings negative Moody’s announced that it is reverting IOI Corporation’s (IOI:MK) credit outlook as “negative” following the lifting of its suspension by the Roundtable of Sustainable Palm Oil (RSPO). Moody’s issuer rating of IOI is still Baa2, the second lowest investment grade granted by Moody’s. …
Download Report Here (PDF) Summary Deforestation risks material to financial institutions. Key economic sectors exposed to deforestation-related financial risks. Agriculture, mining, oil and gas, and infrastructure sectors impacted. The economic links between deforestation and climate change are increasingly recognized in, for example, the 2015 Framework Convention on Climate Change’s Paris Agreement and elsewhere. This recognition …
CPO Prices Collapse 25% Since March 2016 As reported by the Financial Times, near-dated palm oil futures contracts trading on the Bursa Malaysia are now at 2016 lows, as forecasted previously this spring by Chain Reaction Research. Weaker global demand for palm oil and recovering palm oil production post 2015 El Niño are driving palm …
ADM tells suppliers of soy, palm oil to end deforestation Agribusiness giant Archer Daniels Midland (ADM:US) announced yesterday that it will adopt a new No Deforestation policy for its soy and palm oil supply chains. It is the first of any major agricultural traders to extend an action plan for forest conservation beyond the Brazilian …
