FGV launches improved sustainability framework to help transform palm oil sector
14/07/2024 (New Straits Times), Kuala Lumpur - FGV Holdings Bhd has introduced its improved Sustainability Framework to support the nation's initiatives in transforming the palm oil industry and achieving broader sustainability objectives.
In a statement, FGV said the framework expands on its current sustainability commitments and includes five key pillars: economic growth, governance, social, environment, and innovation and technology.
FGV group chief executive officer Datuk Nazrul Mansor said the framework demonstrates its commitment to inclusive economic growth, social responsibility and environmental protection.
Aligned with the Sustainability Framework, FGV has improved its labour practices by enhancing company policies, procedures, and due diligence in the recruitment process, as well as upgrading infrastructure and housing for workers.
In line with its commitment to the Science-based Targets initiative (SBTi), FGV is developing greenhouse gas (GHG) reduction plans to meet midterm and long-term emission reduction targets.
To reduce its carbon footprint, the company is using biomass from its operations to generate renewable energy.
Currently, FGV operates two biomass power plants with a combined capacity of about 20 megawatts (MW) and 28 biogas plants, with 15.4 MW committed to the feed-in tariff (FiT) program.
The launch of the framework was officiated today by Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Haji Fadillah Yusof.
At the same event, Fadillah inaugurated FGV's four-month trial of B100 biodiesel on its fleet, making it one of the few Malaysian companies to test tankers running on this renewable fuel.
This project is a collaboration between FGV and MAN Truck & Bus (M) Sdn Bhd.
Fadillah also witnessed FGV submitting workers' membership forms to the National Union of Plantation Workers, which is in line with FGV's commitment to respecting workers' rights and freedom of association.