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Bunge posts palm oil update
Bunge posts palm oil update
News Sep 30, 2016

TFT palm oil member Bunge has reached over 95% traceability to the mill for operations in Europe, North America and Brazil.

Since January 2019, TFT has become Earthworm Foundation.

Transparency

The US-based global agribusiness and food company became a TFT member in October 2015, so has spent much of its work with us in the Transparency stage of our VTTV (Values, Transparency, Transformation, Verification) approach.

Transparency is about developing supply chain mapping and traceability solutions to trace products to source, identifying key social and environmental issues.

Although the traceability work itself does not constitute the transformation of the industry we are working toward with our members, without that traceability and the information it brings transformation to scale would be virtually impossible.

Transformation

During the last quarter Bunge began to move into the transformation phase, through their contribution in the field supporting the landscape approach. Together with TFT and other TFT members, Bunge will support local stakeholders to find a balance between agricultural expansion, economic development, strengthening community livelihoods and conservation of key environmental values.

Bunge is also working with its direct suppliers to transform practices, as the intent of its recent questionnaire is to engage suppliers in dialogue and onto a continuous improvement path to meeting their policy.

Although Bunge does not own or operate any palm oil plantations, it is playing a role in encouraging the wider use of responsible palm oil. It is continuing its work towards its goal of full mill traceability. This includes addressing the India liquid High Seas market, which requires collaboration from a wide array of international and domestic market participants. Bunge is working with us and other companies to address these challenges and improve supply chain transparency in a pre-competitive manner.

Since its last update report in March, Bunge has also launched a transparent grievance process.

Related News:

Areas of work:
Healthy forests

Products:
Palm oil

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