TFT is aware of several breaches of PT SMART’s Forest Conservation Policy (FCP)
TFT has been working with Golden Agri-Resources (PT SMART Division) since 2011, when pioneering work was started on the High Carbon Stock (HCS) Approach to forest conservation. However, general progress has slowed recently and TFT is aware of several breaches of PT SMART’s Forest Conservation Policy (FCP) and Social and Community Engagement Policy (SCEP). As a result, we have suspended its membership with immediate effect.
We advise PT SMART that it needs to re-affirm its commitment to its current FCP and SCEP, reviewing policy to widen their scope and goals, while focusing on credible and robust implementation. TFT will work with PT SMART management on a time bound action plan which addresses the key issues we identify, providing regular updates on progress. Note * We have suspended the upstream (PT SMART) business which is GAR’s plantation company. The downstream business, which is its trading arm, is currently still working with us as TFT members. This is because the downstream work plan only started in February 2015 and is proceeding well.
TFT will work with the upstream business on an action plan to bring it back on track with their FCP implementation. However, if the upstream business does not make progress within three to six months, TFT will be obliged to terminate the membership of both upstream and downstream parts of the business.