A palm oil industry watchdog will adopt rules next month that will impose fines ...
) share responsibility because they don’t buy enough sustainably produced oil, undermining efforts to reward those who adopt greener practices and reduce deforestation.
That makes it hard to cover the extra costs of sustainable palm oil, which, according to Simon Lord, chief sustainability officer at Sime Darby, amount to $8-$12 a tonne, not including staff expenses.Cark Bek-Nielsen, chief executive of United Plantations , said the consumer goods companies are not doing their part: “When push comes to shove the only thing holding them back is their fear of having to pay a slight premium.
When asked about the rules, the big consumer firms said they have pledged to eventually use only green palm oil in their products, but also that there are still supply reliability and transportation issues to overcome.
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