22 August 2014
American foods company ConAgra announced this month that by December 2015 it will only source palm oil that can be traced back to “suppliers independently verified as not developing on high carbon stock or high conservation value forests, peatlands, or engaged in human rights abuses”. This, the company says, means it will be “sourcing 100% sustainable palm oil”.
The palm oil commodity has become a “perfect storm of risk” to a company’s brand and to shareholder value, says Lucia von Reusner, shareholder advocate at Green Century Capital Management. Public awareness of the issues associated with its production - rainforest destruction, climate change, biodiversity loss and human rights violations – have led to commitments from the likes of Starbucks, Kelloggs, Wilmar and most recently ConAgra Foods.
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