Golden Agri-Resources (GAR) has debuted on the FTSE4Good Index Series. The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. Last year, GAR debuted on the Dow Jones Sustainability Index (DJSI) Indices, the first Southeast Asian palm oil company to be included in the DJSI Asia-Pacific Index. GAR is also a member of the SGX ESG Indices, including the Sustainability Leaders Index.
“We are honoured to be recognised for our efforts in continuously improving our ESG performance. As inclusion is based on an annual review of our performance, this will encourage us to continue on the path of adopting and implementing globally-recognised standards and to share that commitment with our supply chain,” said Mr Rafael B Concepcion Jr., Chief Financial Officer of GAR.
GAR’s recent ESG achievements include achieving 100 percent Traceability to the Plantation (TTP) for all 44 of its own mills in 2017, mapping over 70 brokers and some 11,000 smallholders supplying palm raw materials to GAR mills. This means that 39 percent of GAR’s palm supply chain is now fully traceable. This is enabling GAR to reach out to more and more of its suppliers all the way back to origin and this is key to GAR’s efforts to transform its supply chain by sharing responsible practices. GAR is also working with over 400 third-party supplier mills to help them achieve TTP by end 2020.
In addition, GAR continues to make progress in forest conservation by maintaining some 72,000 hectares of conservation area and implementing innovative community conservation partnerships. To date, 13 villages have signed on to help protect over 7,000 hectares of High Carbon Stock forests.