Based on a study of 1,000 companies from the developing world, the World Economic Forum (WEF) has identified New Britain Palm Oil Ltd (NBPOL) as one of 16 companies from across the developing world that are best showing how to grow profits at the same time as actively tackling environmental and social challenges.
The WEF said it showed that global “green” businesses were not the only ones with sustainability credentials.
Describing NBPOL, the report says that “the company has developed new ways to engage small farmers, who provide one-third of the company’s supply. These close ties have not only helped to reduce poverty, but also enabled the company to develop one of the world’s first fully traceable palm oil supply chains.”
NBPOL’s Global Sustainability Director, Dr Simon Lord is quoted in report: “Traceability is the biggest issue now,” explains Lord. “You want to be able to trace your supply to a particular plantation and know that there are assurances in place that the plantation is a sustainable operation.”