As a Financial Institution, you have an important role to play in promoting sustainable palm oil. How? By taking financing decisions that can encourage companies to meet their social and environmental responsibilities.
You can support the transformation to a sustainable palm oil sector by making sure that you finance companies (for example, producers or companies in the palm oil supply chain) that are Roundtable on Sustainable Palm Oil (RSPO) members committed towards becoming 100% RSPO-certified.
Why join the RSPO?
- Ability to have a direct stake in the shaping and growth of sustainable palm oil.
- Highlights a Financial Institution’s commitment to financing sustainable business and reducing the reputational risk associated with the sector.
- Be part of a group of like-minded Financial Institutions driving and supporting sustainability transformation in the palm oil sector.
- Meet investors and societies’ demands for Financial Institutions to operate responsibly.
- Overall, minimize Environmental & Social Risks (ESR) for investments and reduce the administrative burden for ESR assessments and decision making.
What does RSPO require from Financial Institutions?
- Abide by the RSPO Code of Conduct.
- Establish an internal policy, relevant to your business and to the RSPO Principles and Criteria (P&C).
- Specify a time-bound plan for providing financial services and products to clients that are RSPO members, and/or are producing, trading or buying Certified Sustainable Palm Oil and its derivatives, relevant to the scope of the members’ operations.
- Report progress annually as part of the mandatory progress report (Annual Communications of Progress - ACOP).
- Encourage your customers, where relevant, to be members of RSPO, and to promote the RSPO as the preferred certification standard.