IOI Corporation marks nine months of progress with additional commitments to strengthen the implementation of its Sustainable Palm Oil Policy
28/04/2017, Corporate Communications

IOI Corporation launched its updated Sustainable Palm Oil Policy (SPOP) in August 2016 alongside a comprehensive Sustainability Implementation Plan (SIP). Nine months later, the company continues to report advances as well as positive and constructive dialogue with external stakeholders.

In particular, IOI is pleased to announce progress in key areas of its Sustainable Palm Oil Policy as well as the introduction of additional commitments. These new commitments will serve both enhance field implementation and ensure ongoing best-practice management in the palm oil supply chain.

Additional commitments include undertaking an independent verification of Policy implementation as well as a commitment to implement global best-practice peatland management in the Ketapang landscape.

Specifically, IOI has:

  • Started working on a joint approach with international NGOs and grassroots to ensure the core principles of the RSPO are upheld in the resolution of the Long Teran Kanan Complaint. 

  • Addressed the labour issues highlighted by Finnwatch in its Peninsular Malaysia plantations, including the ending of all recruitment fees. IOI has commissioned external consultants Business for Social Responsibility (BSR) to transparently verify its progress and to   assess and recommend solutions to any labour issues in its Sabah plantations. 

  • Committed to implement global best-practice peatland management in the Ketapang landscape, including the peatland standard currently being developed by the Palm Oil Innovation Group (POIG).

  • Developed and communicated to suppliers new mechanisms to proactively monitor its third-party suppliers to ensure compliance to its policy commitments.

  • Analysed the exposure of its supply base to peatland and committed to minimise and mitigate the impact of third-party suppliers on peatlands.

  • Committed to commission an independent verification of the implementation of its Sustainable Palm Oil Policy, and the commitments stated above, in the second quarter of 2018.

IOI stands firmly committed to the implementation of its sustainability policies and believes that its progress in key areas - combined with these new commitments and measures – sends a strong signal to stakeholders around its desire for continued improvement.

The company will continue to engage stakeholders in its sustainability journey and looks forward to playing a leading role in ensuring sustainable global palm oil supply chains.  

Dato’ Lee Yeow Chor
Chief Executive Officer
IOI Corporation Berhad

For further information, please contact:

Dr Surina Ismail
Group Head of Sustainability
IOI Corporation Berhad
Tel: +603-8947 8691

Karen Liew
Head of Corporate Communications
IOI Corporation Berhad
Tel: +603-8947 8956