Wilmar ranks third in SPOTT rating

November 2020

The London SPOTT initiative is an online assessment platform created by the Zoological Society of London. The platform supports companies in managing their environmental, social and governance (ESG) risks by publishing transparency assessments of palm oil producers and traders. SPOTT assesses palm oil producers, processors and traders on the public disclosure of their policies, operations and commitments to ESG best practice.

Palm oil buyers can use SPOTT to help meet their own commitments and engage with companies to promote sustainable commodity production through responsible investment and sourcing.

Rating

Each company receives a percentage score as a measure of its transparency in relation to ESG risks. The assessment monitors 180 indicators over 10 categories. In its latest report of November 2020, SPOTT rated Wilmar third out of 100 assessed companies, achieving a total score of 88.9%. See further explanation of assessment scores on the SPOTT website.

Congratulations to New Britain Palm Oil

Olenex is very proud of the achievement by its Joint Venture parent company and major palm oil supplier Wilmar. We also congratulate New Britain Palm Oil who gained the top spot with a score of 94.4%. We are glad to have New Britain Palm Oil in our supply chain among many other top-rated palm oil producers.

Transparency

Overall, many palm oil producers and traders improved their performance compared to last year’s assessment. The increase in supply chain transparency is a positive sign for the transformation of the palm industry. But the assessment also shows that for some companies there are still many sustainability improvements to be expected. As a top-performing producer, Wilmar is a great example of commitment to sustainable palm oil production and business practices, positively affecting the entire supply chain. We can only hope that other companies in the sector follow this evolution, resulting in a palm supply chain free of deforestation and human rights conflicts.

More information about SPOTT at https://www.spott.org/palm-oil/.