GreenPalm certificate trading begins
Our ultimate goal is that all palm oil and palm oil derivatives should be sustainably produced but in reality this will take time to achieve. So to provide palm oil users and retailers with the opportunity to support the development of sustainable production in the meantime, we have been working with the RSPO to create the GreenPalm certificate trading programme.
How it works…
The programme works as follows: producers which have passed their RSPO audits are invited to register a volume of their estimated production with the GreenPalm programme. GreenPalm certificates are then awarded on the basis of one certificate for each tonne of palm oil registered. The GreenPalm certificates can then be put up for sale on the programme’s new web-based trading platform www.greenpalm.org. Users of palm oil and its derivatives are then able to purchase those certificates on-line and, in doing so, commit to pay a voluntary premium to support the production of RSPO certified sustainable palm oil.
The great news is that trading in GreenPalm certificates began last week following United Plantations’ successful audit against the RSPO’s rigorous sustainability criteria. Out of their estimated production volume United Plantations registered 15,000mt with the GreenPalm programme. GreenPalm certificates were awarded pro rata and United Plantations offered a number of these for sale on www.greenpalm.org shortly afterwards. Within hours the first bid of $50 per certificate was received and accepted from an anonymous bidder.
Rewarding sustainable development
The result is that United Plantations is set to become the first palm oil producer to achieve a premium for producing palm oil sustainably. The successful bidder will, in due course, be able to prove that their business, or brand, supports the production of sustainable palm oil.
By paying producers more to produce palm oil sustainably, we believe that the GreenPalm scheme has the potential to begin to tackle the environmental and social problems associated with palm oil production including damage to rainforests and natural habitats.
This will not be achieved overnight but we believe we have made a solid, practical start. We expect GreenPalm certificate trading to gain momentum in the coming weeks and months. For further information on how to join the GreenPalm programme please visit: www.greenpalm.org
For further information regarding AAK and the first shipment of RSPO certified crude palm oil, please contact:
Judith Murdoch
Marketing Manager AAK
Tel: 01482 332173
For further information on the GreenPalm programme, please contact:
Bob Norman
General Manager, GreenPalm Ltd
Tel: 01482 334000/332013
Talk to us...
AarhusKarlshamn UK Ltd
King George Dock, Hull, HU9 5PX, England
T: +44 (0)1482 701 271 | E: uk.info@aak.com
Registered in England with Company Number 1585686 and VAT Number GB 475 4800 31.
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