How palm oil in Malaysia is driving progress in sustainability

Published 2024년 10월 13일

Tridge summary

The Malaysian palm oil industry is making significant strides towards sustainability, with a focus on environmental, social, and governance (ESG) factors. The country is working to be recognized as a 'low-risk' country under the European Union Deforestation Regulation (EUDR) through initiatives such as the nationally mandated Malaysian Sustainable Palm Oil (MSPO) certification scheme. Malaysia is also advocating for smallholder exemptions from the EUDR's stringent requirements and is supported by the UK government's Trade and Agriculture Commission. The industry is hoping for recognition of the MSPO as a pathway to meeting the EUDR requirements.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Malaysian palm oil industry is undergoing a transformative journey towards sustainability. Having faced criticism in the past, the sector has been making great strides in prioritising environmental, social and governance (ESG) factors through a range of pioneering initiatives that go beyond regulatory compliance. With the European Union Deforestation Regulation (EUDR) deadline just months away, the Malaysian Palm Oil Council (MPOC) is focused on ensuring Malaysia is recognised as a “low-risk” country under the new law’s country benchmarking assessment. Reports from the FAO Forest Resource Assessment 2020 and the World Resources Institute’s 2023 report demonstrate a positive trend, with Malaysia’s deforestation rates declining and forest areas expanding since 2010. Meanwhile, Global Forest Watch (GFW) has hailed Malaysia as a “success story”, stating, “Palm oil is no longer a driver of deforestation”. All this underscores the effectiveness of existing measures such as the ...

Source: Theedgemarkets