Samsung C&T was certified by the international RSPO, Roundtable on Sustainable Palm Oil. The RSPO certification is very meaningful not only for the operation of the palm plantation but also for the palm oil business in the future.
Samsung C&T’s palm plantation(GNI) is located on Sumatra Island of Indonesia. The farm was acquired by our company in 2008 for direct management. The total area of the farm is about 24,000 ha, which is equivalent to about 40% of the area of Seoul. The farm is also equipped with the facilities that can produce more than 100,000 ton of crude palm oil(CPO) every year. CPO is the raw material used for cooking oil, bio diesel, etc.
The farm became a member of RSPO in August 2017 and made continuous effort to meet the criteria of RSPO, finally passing the suitability evaluation for certification in May 2019.
Regarding the acquisition of the certificate, Woon-Bong Lee, CEO of GNI, said “It is very meaningful that SNG has been acknowledged internationally for environment-friendly management of the palm plantation of our company by means of the RSPO certification. SNG will continue to exert effort for sustainable palm oil business, maintaining the RSPO certification through environmental protection, quality safety management, and contribution to the local society.”
RSPO is a nonprofit organization established in 2004 in Switzerland by WWF(The World Wide Fund for Nature), an international NGO, with the purpose of producing palm oil while protecting the environment and securing stable supply of palm oil by developing the palm industry. RSPO certification is issued after about 54 international NGOs, including WWF, strictly check if the farm is observing the 8 main principles and 39 standards such as transparency, performance of legal duties, responsible management of the farm, protection of natural resources, and obligation to the local community.
Approximately 4,000 institutions and companies throughout the world have joined RSPO, and many international banks require RSPO certification for palm oil business transaction.