Singapore's Golden Agri Joins RSPO
04 April 2011 - 5:08PM
Dow Jones News
Golden Agri-Resources Ltd. (E5H.SG), a unit of the Sinar Mas
Group, Monday joined the Roundtable of Sustainable Palm Oil, after
coming under fire last year for not following sustainable
plantation practices.
The move is seen as a bid by the Sinar Mas group, which also
owns Jakarta-listed PT Sinar Mas Agro Resources and Technology Tbk
(SMAR.JK), to clean up its image after deforestation charges by
Greenpeace forced global consumer and food companies NestleN.V
(NESN.VX), and Unilever Plc. (ULVR.LN) to stop sourcing palm oil
from Smart.
Environmental group Greenpeace in a series of reports last year
claimed that the firm cleared rain forests and drained peatlands
for developing oil palm plantations.
Golden Agri, in a joint statement with the RSPO, said it "is
committed to taking a leadership role and will work with
multi-stakeholders to find solutions toward sustainable palm oil
production."
"The company is committed to complying with the national laws
and regulations and the RSPO principles and criteria," Golden Agri
said.
Formed in 2004, the RSPO is formed by consumers, environmental
groups, and planters to promote sustainable plantation practices
via stringent certification processes.
"The RSPO will continue to work together with Golden Agri,
Smart... to ensure that the companies continue to stay on track for
the planned certification of all plantations by December 2015," it
said.
-By Shie-Lynn Lim and Andreas Ismar, Dow Jones Newswires; +603
2026 1233; shie-lynn.lim@dowjones.com
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