UN Unilever NV

The Roundtable on Sustainable Palm Oil said Thursday that it will reschedule another general assembly within four months after a meeting last week among buyers, producers and retailers failed to draw enough quorum to pass new measures on time limits for buyers to adopt sustainability practices and certification of palm oil as sustainable.

Voter turnout was low at the RSPO's annual general meeting last week following the Indonesian Palm Oil Association's withdrawal from the group to focus on helping the Indonesian government push through a sustainability certification scheme and mounting dissatisfaction among producers on rising certification costs, even as premium paid for RSPO-certified green palm oil remains abysmally low.

The RSPO, which includes palm oil producers, environmental groups and big palm oil buyers such as McDonald's Corp. (MCD) and Unilever NV (UN), seeks to mandate sustainable practices in the palm oil industry, which has often been accused of environmental wrongdoing.

The executive board and members present at the Nov. 24 meeting had proposed that eligible members unable to attend the general assembly be allowed to vote electronically on five major resolutions.

"The executive board has since sought legal advice on the matter and now confirms that this proposal is not constitutional," RSPO said.

-By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com

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