Post by hasan77 on Feb 15, 2024 0:31:04 GMT -5
Many of the sector’s large brands have sustainable sourcing policies in place, albeit varying in strength. the most widely adopted certification standard, the Roundtable on Sustainable Palm Oil (RSPO), which is being revised to account for its shortcomings, or go further to include No Deforestation, No Peat and No Exploitation (NDPE) (PDF). Many international banks, too, go beyond RSPO to include NDPE commitments, and investors representing $6.7 trillion have called for the RSPO revisions to catch up to these leading market practices. Financial institutions representing over $81.
trillion (PDF) are also backing Task Force on Climate-Related Financial Disclosures (TCFD), which calls for the disclosure of forward-looking and science-based climate strategies and has recommendations for the food and beverages sector. Some banks are already rewarding more sustainable companies with loans that tie the cost Fiji Email List of capital to ESG ratings — including companies in food supply chains. While these developments are not without their challenges — for example, how to monitor and enforce NDPE commitments — the arguably bigger threat to the sector is continued leakage of unsustainable palm oil into a secondary market with slacker requirements.
Addressing challenges There are at least three reasons behind this, which must be addressed if we want to transform the palm oil sector into a sustainable development success story. First is the tendency of companies to "clean up" supply chains by buying from already sustainable suppliers. Rather than solving the problem, this merely displaces deforestation to surrounding landscapes and will persist as long as smallholders are excluded from more progressive companies’ programs.
trillion (PDF) are also backing Task Force on Climate-Related Financial Disclosures (TCFD), which calls for the disclosure of forward-looking and science-based climate strategies and has recommendations for the food and beverages sector. Some banks are already rewarding more sustainable companies with loans that tie the cost Fiji Email List of capital to ESG ratings — including companies in food supply chains. While these developments are not without their challenges — for example, how to monitor and enforce NDPE commitments — the arguably bigger threat to the sector is continued leakage of unsustainable palm oil into a secondary market with slacker requirements.
Addressing challenges There are at least three reasons behind this, which must be addressed if we want to transform the palm oil sector into a sustainable development success story. First is the tendency of companies to "clean up" supply chains by buying from already sustainable suppliers. Rather than solving the problem, this merely displaces deforestation to surrounding landscapes and will persist as long as smallholders are excluded from more progressive companies’ programs.