MARKET DEVELOPMENT
UNEP, RSPO Ink MoU To Raise Global Awareness Of Sustainable Palm Oil
UNEP, RSPO Ink MoU To Raise Global Awareness Of Sustainable Palm Oil
17/11/2014 (Bernama) - The United Nations Environment Programme (UNEP) and the Roundtable on Sustainable Palm Oil (RSPO) have signed a Memorandum of Understanding (MoU) that aims to raise the global awareness of sustainable palm oil.
The MoU commits both UNEP and RSPO to a framework of cooperation and understanding, and facilitates collaboration in regard to the transformation of markets to make sustainable palm oil the norm.
It aims to generate market demand for an important commodity that has the potential to play a key role in preserving biodiversity, according to a joint statement by UNEP and RSPO today.
At present, 18 per cent of the global palm oil yield is certified by the RSPO, but market demand leaves half of that sustainably produced palm oil unsold.
Palm oil is the top-selling vegetable oil in the world and is found in 50 per cent of all consumer goods.
"Our hope is that by combining our political and institutional resources, we are able to add value to the efforts being undertaken by community groups, NGOs, national authorities and leaders in the business community," said UN Under-Secretary General and UNEP Executive Director Achim Steiner.
Steiner added the palm oil sector can provide leadership on how to use a global market place to improve production patterns and transition towards a greener, more inclusive economy.
The RSPO, which was founded in 2004 and has over 1,800 members, is the world's largest sustainable palm oil certification programme.
"The signing of this MoU represents an opportunity to link sustainable palm oil to UNEP's Sustainable Consumption and Production Programme.
"We are very confident that RSPO can assist UNEP in delivering the UN's Sustainable Development Goals," said RSPO Secretary General Darrel Webber.
The MoU commits both UNEP and RSPO to a framework of cooperation and understanding, and facilitates collaboration in regard to the transformation of markets to make sustainable palm oil the norm.
It aims to generate market demand for an important commodity that has the potential to play a key role in preserving biodiversity, according to a joint statement by UNEP and RSPO today.
At present, 18 per cent of the global palm oil yield is certified by the RSPO, but market demand leaves half of that sustainably produced palm oil unsold.
Palm oil is the top-selling vegetable oil in the world and is found in 50 per cent of all consumer goods.
"Our hope is that by combining our political and institutional resources, we are able to add value to the efforts being undertaken by community groups, NGOs, national authorities and leaders in the business community," said UN Under-Secretary General and UNEP Executive Director Achim Steiner.
Steiner added the palm oil sector can provide leadership on how to use a global market place to improve production patterns and transition towards a greener, more inclusive economy.
The RSPO, which was founded in 2004 and has over 1,800 members, is the world's largest sustainable palm oil certification programme.
"The signing of this MoU represents an opportunity to link sustainable palm oil to UNEP's Sustainable Consumption and Production Programme.
"We are very confident that RSPO can assist UNEP in delivering the UN's Sustainable Development Goals," said RSPO Secretary General Darrel Webber.