Buyers of palm oil can now choose to support specific, named producers when purchasing GreenPalm certificates, which now include the name, address and GPS location of the sustainably certified mill trading each certificate, GreenPalm announced on 8 June.
Previously, Roundtable on Sustainable Palm Oil (RSPO)-certified mills submitted their certificates for sale into a collective pot on the GreenPalm trading platform market. Account names were known, but buyers received no mill transparency
“Now, buyers can select the RSPO-certified grower or mill they wish to support via GreenPalm's off-market deal facility, or can focus their sustainable sourcing on a particular geographical area,” GreenPalm said.
GreenPalm enables buyers to off-set their purchases of palm oil, palm kernel oil or palm kernel expeller by paying the producer for an equivalent volume of RSPO-certified sustainable material.
“This is currently the only route for some buyers of palm fractions and derivatives to source certified sustainable palm products.
“GreenPalm is also the only practical way to support the estimated 40% of palm producers who cannot export to countries where there is high demand for sustainable palm products, and certified growers or mills that cannot sell physical material into the segregated supply chain.”
Simon Chrismas, Product Manager of Book&Claim, which operates the GreenPalm programme, announced the development to coincide with the organisation's attendance at the RSPO's European Roundtable, starting on June 9th in Milan, Italy.
"There are still significant barriers to supplying and buying segregated, physical palm products on a global basis,” he said. Some producers cannot export their material to key demand markets; others are RSPO-certified but are unable to sell their material into the segregated supply chain.
"These growers are often located in areas where there is an urgent need for growth in the uptake of RSPO-certified sustainable palm oil.