ESG, sustainability compliance in palm oil industry

Heightened efforts have been put in place to address environmental and social concerns through the Malaysian Sustainable Palm Oil (MSPO) and Roundtable Sustainable Palm Oil (RSPO) certification schemes.

KUALA LUMPUR: As the world’s appetite for palm oil is seen rising along with global population, edible oil (pic) will continue to be under watchful eyes especially in the area of environmental, social and governance (ESG) to ensure that the industry remains sustainable and attractive to investors.

In particular, compliance with the International Labour Organisation’s 11 indicators with respect to employment of migrant workers – their living conditions, access to healthcare during the pandemic, failure to reimburse all recruitment fees by the employer and other failings – will be under scrutiny.