LONDON, May 18 (Bernama) -- The Malaysian Palm Oil Promotion Council (MPOPC) has announced the launch of a RM20 million fund to enhance biodiversity conservation related to palm-oil production worldwide.

The announcement was made at an MPOPC symposium on sustainable resource development for key stakeholders from across the UK and Europe at the Institute of Directors here.

Addressing 80 delegates, MPOPC's CEO Tan Sri Dr Yusof Basiron called upon delegates interested to collaborate on projects to enhance biodiversity conservation related to palm-oil production worldwide to submit their ideas and proposals for funding.

The participants included leading scientists and researchers, conservationists and environmental experts, importers and manufacturers.

The fund, a public-sector and government-based initiative, is set up as a revolving facility.

It will be kicked off initially with a contribution of RM10 million, mainly from Malaysian palm-oil industry players, with the remainder from government agencies and the public at large.

It will be operated on a "matching grant" basis, where the MPOPC shall match all contributions with an equal sum, up to RMR10 million, to maintain the targeted fund size of RM20 million.

The fund will be used to support the MPOPC's objective of enhancing conservation of wildlife and biodiversity to benefit not only the producers, but also consumers, of Malaysian palm oil worldwide.

"We will promote study, help finance appropriate wildlife and biodiversity conservation activities, encourage plantations in sustainability, support NGOs in their efforts in conservation, biodiversity and sustainability and generally reaffirm our commitment to good agricultural practices," said Dr Yusof, himself a chemical engineer and rubber technologist whose PhD in Applied Economics & Management Science was obtained from the University of Stirling, Scotland.

Malaysia, currently the world's largest producer and exporter of palm-oil products, has long been an advocate of sustainable farming practices.

Having spearheaded extensive research and development over several decades into Good Agricultural Practices, product development, biofuels, lignocellulosic fibres for wood-based products and examining and promoting the beneficial health properties of edible palm oil, the MPOPC has now begun to address issues related to misinformation and to engage systematically with key stakeholders in the global community.

Speaking on Malaysia's high standards in sustainable production, Dr Yusof said Malaysia had only four million hectares under palm oil cultivation.

Thios, he said, represented just 13 percent of total land cover, which was a very small proportion.

"New palm oil areas for cultivation are being made available from switching from other crops such as rubber and cocoa. Our government has policy statements in place to ensure that at least 50 percent of land is under permanent forest cover. Our current record is 60 percent and indeed total tree cover in Malaysia is 76 percent, a good percentage by any measure.

"By 1990 we have stopped approving new jungle areas to be covered under plantations. NGOs ought not to be concerned that we are embarking on irresponsible exploitation of palm oil and causing forest loss.

"We are willing to work with any party to address sustainability issues and promote collaborative best practices not just in Malaysia but elsewhere. We feel that the practices and technology we have in place can be shared with other countries. This would be our contribution as a global leader in the production of this necessary vegetable fat," he added.

The symposium addressed issues related to oil palm's role as a vegetable fat to meet the growing needs of the global market, its role in preserving forest and biodiversity in the tropics, and its role in creating jobs, eradicating rural poverty and promoting responsible economic growth and development.

It was chaired by Prof. Bernard Tinker, a Fellow of the Royal Institute of Chemistry, the Institute of Biology and the Linnean Society, an Honorary Fellow of the Royal Agricultural Society of England, and a Member of the Norwegian Academy of Sciences and Dr Yusof.

-- BERNAMA