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Jakarta Post

Palm oil companies still underestimate deforestation risks, survey shows

  • Made Anthony Iswara

    The Jakarta Post

PREMIUM
Denpasar, Bali   /   Fri, November 22, 2019   /  02:59 pm
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Harvest time: A worker gathers oil palm fruit bunches at a plantation in Lampung. (The Jakarta Post/R. Berto Wedhatama)

Companies in the palm oil sector are still mostly underestimating their deforestation risks, compounded by the lack of transparency among upstream companies in the supply chain, according to a new study conducted by global environmental non-profit organization CDP. CDP’s new report “The Palm Book: Tracking progress on sustainable palm oil commitments in Indonesia” indicates that 89 percent of companies are reporting deforestation risks, but not enough are committing to sustainable palm oil production in Indonesia. The report is based on self-reported data from nearly 100 companies that produce, source or use products made with Indonesian palm oil. It indicates that a significant number of companies still don’t report the financial impact of their risks. Only 33 companies, or a third, reported the potential financial impacts associated with substantive defore...