Archived News

09/09/2009 (Reuters) - The International Finance Corp (IFC), the World Bank's private sector lender, said on Wednesday it had suspended investments in palm oil businesses until after a review of its practices in the sector.

09/09/2009 (Sumatran Orangutan Society) - The World Bank has agreed to suspend International Finance Corporation (IFC) funding of the oil palm sector pending the development of safeguards to ensure that lending doesn't cause social or environmental harm, according to a letter by World Bank President Robert Zoellick to NGOs. A recent internal audit found that IFC funding of the Wilmar Group, a plantation developer, violated the IFC's own procedures, allowing commercial concerns to trump environmental and social standards. The audit's findings were championed by environmental and indigenous rights' groups who have criticized World Bank support for industrial oil palm development which they say has driven large-scale destruction of forests in Indonesia, boosting greenhouse gas emissions, endangering rare and charismatic species of wildlife, including the orangutan, and displacing forest communities.

09/09/2009 (Jakarta Post) - The International Finance Corporation (IFC), the private arm of the World Bank, has decided to suspend funding in the palm oil sector, affecting the world's top producer, Wilmar International, pending a review of internal procedures on environmental and social standards.

09/09/2009 (Environmental Finance) - The World Bank's International Finance Corporation (IFC) has stopped investing in palm oil projects pending the development of a new strategy to address environmental and social practices associated with the material.

09/09/2009 (The Independent) - The palm oil industry misled the public by claiming production of the vegetable fat was sustainable and socially useful, according to an official investigation.

09/09/2009 (The Economic Times), Melbourne - Indian conglomerate Bhoruka Group will invest AUD 63 million ($54 million) in an edible oils and biodiesel facility in Australia.

08/09/2009 (Images Food.com) - Bunge India Pvt. Ltd. re-launched its Dalda brand of refined edible oil recently and announced plans to aggressively market the new range of products with its national rollout, starting from Delhi and Kolkata. Bunge India, a 100 per cent subsidiary of the U.S.-based agribusiness and food company Bunge, acquired the Dalda brand from Hindustan Lever in 2003.

05/09/2009 (Green Fudge.org) - Is palm oil ‘biofuel’ a complete waste and are big oil companies just incapable of getting it right? It’s like they just can’t resist doing the wrong thing. As is the case with tobacco companies and arms dealers, a conscience must be a liability in the energy industry if there is a lot of money to be made, especially if the money is quick. So paint this poison Green, sell it to the world and call it biofuel.

03/09/2009 (Feronia) - Feronia Inc. ("Feronia") is pleased to announce it has concluded the purchase of Unilever's palm oil plantation located in the Democratic Republic of Congo ("DRC"). The total concession is approximately 100,000 hectares. With the acquisition, Feronia has a 76.2% ownership stake in the palm oil plantation, Plantations et Huileries du Congo S.C.A.R.L. ("PHC").

03/09/2009 (Shiga News) - Those cute little buses you see outside Yokaichi Station and elsewhere in the city, called Chokotto bus, have started collecting used cooking oil from September 1, 2009. Bring an old PET bottle (label detached) of your used cooking oil and give it to the bus driver. In return, you will receive a 100-yen ticket which can be used for your next ride on the bus. One ride costs 200 yen for adults, so it’s a 50% discount.

03/09/2009 (Guardian.co.uk) - Chocolate, crisps and sugary drinks will be banned from secondary school canteens this month, under new rules to tackle childhood obesity.

02/09/2009 (Australian Food News.com.au) - Australia’s food regulatory body has rejected a call for food manufacturers to name the source of vegetable oil in their products.