The certificate milestone represents an equal amount of RSPO certified sustainable palm oil, including 600,000 tons of palm kernels all of which is traded via the GreenPalm market. It represents $30 million in premiums back to the RSPO certified producers where the palm fruit is grown. This continued growth in support will encourage more palm oil producers to pursue certification against the RSPO principles & criteria. Currently 12% of the total global production of palm oil is RSPO certified, however last year 50% of this remained unsold, highlighting how crucial this milestone is to the overall vision of transforming the market.
GreenPalm general manager Bob Norman believes this latest achievement proves there is a market for the GreenPalm service and that this will continue to be the case, GreenPalm recently introduced a new membership level with a lower price threshold designed exclusively for small to medium-sized businesses.
“It doesn’t seem that long ago that I was talking about how far we’d come after trading our millionth certificate,” said Bob. “Now, just two years later, I’m here again marking the five millionth certificate traded and we have just tipped over the 2 million mark for 2012 trades.
“Of course I’m proud we’ve come this far, but as with any organisation concerned with promoting sustainability, in whatever sector or corner of the World, there is always much more to do. Reaching this level of success means we can see there is definitely a need for a service such as ours and we will continue to innovate and provide that service for as long as there is a demand.”
GreenPalm counts some of the world’s largest companies among its members, including Unilever, Johnson & Johnson, Tesco, Kraft, Kellogg’s & Asda all of whom are working with GreenPalm and the RSPO to alleviate some of the pressure on delicate environments and ecosystems placed on them by palm oil production.