IOI Group acknowledges the report from Greenpeace and shares a similar top line analysis of the industry challenges related to ensuring compliance by third party suppliers.
We agree that monitoring these suppliers, imposing and verifying zero deforestation and no planting on peat policies, and using the threat of commercial sanction can only be done if there is an industry-wide approach to tackling these complex issues.
It is clear that despite the many achievements of several companies’ No Deforestation, No Planting on Peat and No Exploitation policies, industry-wide collaboration is critically needed.
IOI fully accepts its own responsibilities as a producer and trader of palm oil. In this respect, IOI accepts Greenpeace’s challenge to use its voice and influence to help achieve the outcomes both IOI and Greenpeace desire.
We therefore today call for all our fellow industry players to come together and reach agreement on solutions that will lead to a truly sustainable supply of one of the world’s most commonly used commodities.
We also ask that Greenpeace uses its own convening power and leverage, by joining us in encouraging others to take part, and that it and other specialist NGOs also participate.
IOI stands ready to host such a gathering of the major palm oil producing businesses, and asks that Greenpeace joins us in this endeavour.
With regard to the 15 specific points Greenpeace has made on page 45 of its report, IOI Group has already committed to taking action on several of these as part of its Sustainability Implementation Plan (SIP) and Policy (SPOP), announced in August this year.
We accept that there is always more we can do as a company. We will shortly be publishing an update to our stakeholders detailing the progress that has been made on these commitments since they were announced.
LEE YEOW CHOR is chief executive officer of IOI Corporation Bhd.