How Malaysia’s palm oil industry is championing biodiversity conservation, a key pillar of ESG

Published Oct 8, 2024

Tridge summary

Malaysia, a leading palm oil producer, is leading the charge in environmental, social, and governance (ESG) practices in the industry. The country has committed to preserving biodiversity and preventing illegal deforestation, maintaining at least 50% forest cover. The Malaysian Sustainable Palm Oil (MSPO) certification mandates no deforestation and the protection of High Conservation Value (HCV) areas. Palm oil companies in the country are integrating biodiversity conservation into their operations, including preserving natural habitats and establishing wildlife corridors. The industry is leveraging advanced technologies like satellite mapping and remote sensing to monitor biodiversity outcomes. These efforts not only contribute to ecosystem health and agricultural productivity but also build trust and credibility among stakeholders.

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

Original content

There is a growing focus on environmental, social and governance (ESG) practices in the palm oil industry, with Malaysia — one of the largest palm oil producers in the world — at the forefront of this movement. The country has pledged to conserve biodiversity and prevent illegal deforestation, committing to maintain at least 50% forest cover. True to its word, 54.9% of Malaysia remained forested as at December 2023, it published in the Fourth National Communication Report to the United Nations Framework Convention on Climate Change. Malaysia’s efforts align with international treaties like the Paris Agreement and national standards such as the Malaysian Sustainable Palm Oil (MSPO) certification scheme. This certification mandates no deforestation and safeguards High Conservation Value (HCV) areas, primary forests and regions with significant carbon stocks. It also set a “No Deforestation” cut-off date of Dec 31, 2019. Central to this discourse is the role of biodiversity ...

Source: UkrAgroConsult