New research from ZSL just released! Our latest assessment exposes a significant gap in palm oil traceability, particularly in companies' disclosures of plantation geolocations. This gap renders the industry's robust zero deforestation commitments difficult to verify. With the impending EU deforestation regulation (#EUDR) set to take effect by end-2024, companies trading in soft commodities such as palm oil, beef, soy, and natural rubber will be mandated to prove their products are deforestation-free. We anticipate similar regulations from the UK and US, mirroring the EUDR, to follow soon. This marks a pivotal moment in ensuring sustainable industry practices. Palm oil companies will need to act soon to ensure all their plantations are mapped to allow for verification of social and environmental commitments. #SustainablePalmOil #Conservation #EnvironmentalRegulation"
📈 NEW RESEARCH – The 2023 SPOTT assessment of 100 of the world’s top #PalmOil companies is now live! Over two-thirds of assessed companies have a clear public commitment to zero deforestation, a hopeful sign ahead of the December 2024 rollout of the new European Union Deforestation Regulation (#EUDR). Alarmingly, less than 12% of the companies assessed have published the geolocations of their third-party supplier plantations – crucial data for verifying zero-deforestation commitments. While progress is underway, achieving deforestation-free palm oil production remains an elusive goal without robust traceability. As the EUDR looms, we need support from all stakeholders in the palm oil sector to keep companies traceable and accountable. Read more about the current public disclosure of palm oil companies 👉 https://lnkd.in/eWtz2W7V
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11mo🟢 60 companies / 80 (75.0%) publish clear sustainability policies that apply to all their operations. 🟡 62 companies / 97 (63.9%) publicly extend their sustainability policies to all their suppliers. 🟡 54 companies / 88 (61.4%) publish one or more board members with responsibility for sustainability.