Policy to eliminate deforestation
Olenex, a joint venture between ADM and Wilmar, has announced a new policy that commits to eliminating deforestation from its palm oil supply chain. Effective immediately, it pledges that Olenex will only source palm oil, palm kernel oil and their derivatives from suppliers that are committed to the protection of high carbon stock (HCS) forests or high conservation value (HCV) areas and peatlands, and which have adopted mechanisms that protect human rights and support local communities.
“As a European market leader in refined vegetable oils and fats, we are committed to responsible palm oil production,” comments Dr Kai-Uwe Ostheim, general manager, Olenex. “Our new no-deforestation policy will help towards building a sustainable, more transparent supply chain for palm oil, with the aim to protect forests and people worldwide.”
The new policy will apply to Olenex’s entire palm oil supply chain, from direct suppliers back to the mill source, and their supply base, underscoring Olenex’s commitment to sustainability throughout its operations. The company will continue to offer an extended portfolio of segregated products, including RSPO-segregated refined palm oil and palm fractions.
Both ADM and Wilmar are members of The Forest Trust (TFT) and have been working closely with the organisation to develop appropriate action plans towards a more sustainable and traceable palm oil supply chain. As such, Olenex will provide regular public updates on the progress of the implementation of its new policy.
Ostheim adds: “Olenex’s new policy is in line with those of our parent companies, ADM and Wilmar, from which the vast majority of our products are sourced. We are pleased to be able to bring these commitments directly to our customers and we will work with the rest of our suppliers to ensure their adherence to our policy.”