As of January 2019, TFT has become Earthworm Foundation
The month of March saw the annual palm oil industry Price Outlook Conference (POC) held from the 7 -9th of March in Kuala Lumpur, Malaysia. A large proportion of the palm oil industry gathered to listen and discuss sustainability aspects on the first day and economic issues on the second day. The conference provided the opportunity for TFT to discuss action plans with each key supplier and map out next steps.
After the completion of three RSG assessments last month in Sumatra planning is being finalized to review the traceability of the palm oil from the mills to the port and then the final market. Scheduling is also already underway to set up the next set of RSG assessments for mills in Sabah and Kalimantan. These will address mills and estates that are strongly connected to the global Palm Oil trade, specifically Nestlé’s Chinese and European markets, and aim to improve the standards of the estates management in line with Nestlé’s Responsible Sourcing Guidelines (RSGs). Up the Ladder: TFT spent March developing and testing a feasible and scientifically sound methodology for the measurement of forest biomass. The methodology will deploy across Golden Agri Resources estates as part of their Forest Conservation Policy commitment.
In addition to the teams in South East Asia initiating the project at ground level in the plantations this month, supplier engagement has continued across the globe with the socialization of the project extending to US, Ecuadorian and Filipino suppliers. This brings supplier engagement to 19 out of the top 20 suppliers – and approximately 85% of Nestlé’s total volume.