In May 2018, IOI Corporation Berhad (“IOIC”) formally appointed Proforest, a non-profit organisation with substantial experience in the palm oil sector and track record in second party verification, to undertake an external verification of the implementation of IOIC’s Sustainable Palm Oil Policy (SPOP) and related commitments.
This verification exercise on IOIC’s entire palm oil operations, including its plantations and crude palm oil (CPO) mills, processing facilities, as well as its global third-party supply base, was conducted in two phases. Phase 1 involved “Document Review and Consultation” and was completed in September 2018. It was followed by Phase 2 which involved “Field Assessment” as well as some “Document Review and Consultation” activities, and was completed with the publication of a report by Proforest in May 2019.
The public summary version of the report can be accessed here.
Following the publication of Proforest’s report, IOIC’s management discussed with the members of its Sustainability Advisory Panel (SAP) on both the findings of the verification exercise as well as the way forward in addressing the gaps identified in the report.
IOIC’s management response can be accessed here.
IOIC wish to thank all parties who have been involved with this verification exercise. Moving on ahead with our sustainability journey, IOIC will continue with the same resolve and dedication in delivering on our commitments under the SPOP, and in line with our Vision IOI.
For more information on the verification exercise, please contact IOIC Group Head of Sustainability, Dr Surina Ismail at surina@ioigroup.com