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| Green Palm Oil Producers' Earnings Top $2M |
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| Written by Laura Hall |
| Wednesday, 11 November 2009 08:57 |
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An important target has been reached by GreenPalm, the certificate trading programme that rewards palm oil producers for operating sustainably. Producers have earned more than $2.1M, just 12 months after signing up for GreenPalm, by selling certificates showing they meet stringent criteria for environmental and social sustainability set out by the Roundtable on Sustainable Palm Oil (RSPO). The GreenPalm programme works by bypassing the physical supply chain completely. Here's how... Palm oil producers which have gained RSPO certification are invited to register a quantity of their output with the GreenPalm programme. They are awarded one GreenPalm certificate for each tonne of palm oil which has been sustainably produced. They can then put those certificates up for sale on the GreenPalm web based trading platform: www.greenpalm.org Any company that makes or sells products that contain palm oil, and wishes to show support for sustainable palm oil production, can bid for and buy the certificates. This helps consumers make informed choices when shopping for ethically produced goods. The trading and processing of the palm oil itself does not change, but producers have a greater incentive to work sustainably. The support of the companies buying GreenPalm certificates has been central to the programme's success so far. Certificates have been redeemed by more than-- retailers and manufacturers, and they are listed in the 'market' section of www.greenpalm.org, under 'Redeemed Certificate Owners'. The list of members continues to get longer as word spreads about GreenPalm. Some of the country's biggest names in retail, manufacturing and food are among the 60-plus companies to have joined. Visit the 'GreenPalm Members' page of www.greenpalm.org to see who they are. If a company makes or sells items that have palm oil or palm kernel oil as an ingredient, it will benefit from joining the GreenPalm programme. At present, for some organisations GreenPalm is the only viable supply chain option that is endorsed by the RSPO. Over 60% of the palm oil and palm kernel oil we use is further processed, before it is delivered to manufacturers or retailers, into blends, fractions and derivatives. However the accumulative costs of segregation for additional processing are, in many cases, prohibitive. The GreenPalm certificate trading programme is, as a result, the only viable sustainable option for many users at the present time. Even small-scale palm growers can be rewarded by GreenPalm, so even those whose product is never exported are encouraged to use sustainable methods. The programme also directly supports the work of the RSPO, as $1 is donated for each GreenPalm certificate traded. In the first 12 months, this exceeded $180,000. About the Author: Interested in joining GreenPalm? Then visit www.greenpalm.org or call Bob Norman on +44 (0)--82 332013 or +44 (0) 7776--4731. Kindly provided by MoneyHunter.org You are welcome to use this article on your own website, if you include the link just before this text. |
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