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GreenPalm, the sustainable palm oil certificate-trading programme, has announced the trade of its eleven millionth certificates this month. The trade marks an important landmark for GreenPalm and affirms the programme’s role as a facilitator for change within the palm oil industry.
GreenPalm allows manufacturers to off-set their palm oil, palm kernel oil (PKO) and palm kernel expeller (PKE) use by buying GreenPalm certificates from growers, representing an equivalent volume that has been produced in line with Roundtable on Sustainable Palm Oil (RSPO) principles and criteria.
GreenPalm, otherwise known as the Book & Claim supply chain option, directly supports RSPO-certified growers because it bypasses the supply chain. Manufacturers can effectively reinforce sustainable palm production at its source, enabling growers to earn a premium for utilising sustainable farming methods.
“Certificate trading has a key role to play in the journey towards global palm oil sustainability. It enables all users of palm oil, regardless of their location and what derivatives they use, to play their part. It is also the only supply chain option that provides a mechanism for manufacturers and retailers to make direct payments to RSPO-certified growers,” says Darrel Webber, RSPO Secretary General.
“This is particularly important for independent smallholders. In Indonesia and Malaysia, two of the world’s largest oil palm producers, smallholders account for as much as 33% of the output. However, they rarely have direct access to large multinational buyers committed to sustainable palm oil, selling instead to their local mill"
“This is underpinned by our RSPO smallholder support fund. The fund is available to support smallholders through certification; at the end of the journey is a RSPO certified premium via certificate trading.”
Since 2008, GreenPalm membership has grown to over 800 registered manufacturers, retailers and certified growers. Collectively, RSPO-certified palm growers have directly earned premiums of over $73 million over the past six years.
As of 1 January 2017, the RSPO no longer endorses GreenPalm as the service provider for the trade in Book and Claim certificates. From this date, RSPO-certified volumes can be sold via Credits on the RSPO PalmTrace platform.