Wilmar update report shows mixed progress on implementation Last week at the World Economic Forum gathering in Davos, agribusiness giant Wilmar International released the two-year progress update report on its No Deforestation, No Peat, No Exploitation policy. Wilmar’s original commitment in December 2013 was to have full implementation of the policy across its global operations …
Palm oil sector first in pilot project on Indonesian Sustainable Financing On November 23, 2015 eight Indonesian banks committed to implementing sustainable financing as part of their global environmental goals. This move follows the earlier launch of the Sustainable Financial Roadmap by the Financial Service Authority of Indonesia, locally known as OJK, on December 5, 2014.
Indonesian Government Growth Down, Corporates’ Earnings Uncertain Across Indonesia, an area half the size of Switzerland burned in less than four months this year, with investors’ capital going up in smoke. From July 1st to October 20th, 2015, 97,000 fires were detected in Indonesia, and over two million hectares of forest caught fire, one-third of …
Jokowi bans peatland development in response to haze crisis President Jokowi’s administration has taken its strongest step yet to respond to Indonesia’s ongoing haze crisis. Through a series of presidential and ministerial-level instructions, Indonesia has banned the clearance and conversion of carbon-rich peatlands across the country. The move notably extends the current moratorium on new peat …
Amidst growing haze crisis, Jokowi calls for moratorium on peatland development The ongoing haze crisis in Indonesia has been called “the biggest climate story on the planet right now” and “a crime against humanity of extraordinary proportions” this week in the international press, and could pose significant financial and legal risks for companies and investors …
The Roundtable on Sustainable Palm Oil (RSPO) has issued a stern warning to IOI Corporation to address serious legal and policy non-compliances in Kalimantan, or face expulsion from the Certified Sustainable Palm Oil (CSPO) market. With over 140,000 hectares of RSPO-certified land bank and 12 certified mills, the IOI Group is one of RSPO’s flagships …
In February 2015, CRR ranked investment in Kuala Lumpur Kepong (KLK) as “High Risk” among others in view of gaps between sustainability commitments and its high risk ventures in Liberia, Indonesia and Papua New Guinea. KLK recently launched its December 2014 to June 2015 Sustainability Policy Progress Report. Although the report offers reasonably material responses …
Sawit Sumbermas Sarana (SSMS), a large Indonesia palm oil producer, is exposed to significant financial risk due to sustainability and legal compliance issues that could prevent its plans for rapid growth, according to a new analysis released today by Chain Reaction Research (CRR).
First Resources is first major palm oil grower to adopt zero-deforestation policy Singapore-based palm oil company First Resources (FR:SP) committed earlier this month to end deforestation, peatland development, and human rights abuses it its supply chain, becoming one of the first palm oil company operating primarily at the grower level to join the wave of …
Six of the ten largest palm oil producers traded on the Indonesian Stock Exchange (IDX) face high financial risk exposure from major traders committing to eliminate forest and peatland destruction and human rights abuses from their supply chain, according to a new analysis released today by Chain Reaction Research. The report assesses the financial risk …