As the world approaches 2020 targets to halt deforestation, the RSPO needs to rapidly implement radical solutions to restore its credibility. We question whether the RSPO is willing and able to rectify its systemic failures – ultimately, voluntary certification is too limited by its voluntary nature.
The Roundtable on Sustainable Palm Oil (RSPO) is currently revising the standards it requires oil palm growers to meet to be certified as “sustainable”
To meet its pledge to halt deforestation, the European Union needs to act to reduce the deforestation footprint of the commodities it imports, including palm oil. Existing methods to alleviate the impacts of palm oil, have failed to stop deforestation sufficiently to qualify as ‘sustainability’
This report reveals that despite adopting polices to keep it from financing deforestation, the UK bank HSBC is nevertheless a leading financier of the palm oil industry – and provides loans worth hundreds of millions of dollars to some of its worst elements
- Areas of work: