Global agribusiness giant Bunge has committed to building a traceable supply chain for 100 percent of the palm oil and palm derivatives it trades, processes and utilizes in commercial and consumer products worldwide.
Bunge trades palm oil and derivative products, and uses the products as ingredients in some of its commercial and consumer products.
The company will be guided by the following principles:
- Protect high conservation value areas as defined by the Roundtable on Sustainable Palm Oil and high carbon stock forests as defined by the High Carbon Stock forests steering group.
- Protect peat areas, regardless of depth.
- Apply Roundtable on Sustainable Palm Oil best management practices for peat on existing plantations.
- Prohibit burning.
- Support labor protections, human rights and free, prior and informed consent.
- Comply with all relevant national and local laws.
Bunge will also work for traceability to the mill level for all suppliers and, in areas of high environmental or social sensitivity, to the fresh fruit bunch level.
In addition to its Roundtable on Sustainable Palm Oil annual communication of progress, the company will issue, at least once per year, public reports detailing its time-bound plans and progress toward full implementation.
In addition to Bunge, a number of other companies have adopted tougher sustainable palm oil policies including Cargill, Hershey, Kellogg’s, Mondelez International, Danone, Colgate-Palmolive, General Mills and Mars.
Earlier this year the World Resources Institute worked with Bunge in preparing and releasing its GHG Protocol Agricultural Guidance, the first ever global guidance to measure greenhouse gas emissions for the agriculture sector.