GreenPalm
GreenPalm is a certificate trading program that was established to tackle the environmental and social problems created by the production of palm oil. The program was launched in 2006 by Book & Claim, a UK-based company. GreenPalm operates under the principles of the Roundtable on Sustainable Palm Oil (RSPO), an international organization that sets environmental and social standards for sustainable palm oil production.
Overview[edit | edit source]
GreenPalm works by allowing palm oil producers who have produced their oil sustainably, according to the RSPO's standards, to sell GreenPalm certificates. Each certificate represents one tonne of sustainable palm oil. These certificates are then bought by manufacturers and retailers who use palm oil in their products. By buying the certificates, these companies can claim that they have supported the production of sustainable palm oil.
Criticism[edit | edit source]
Despite its intentions, GreenPalm has faced criticism. Some argue that the program does not go far enough in promoting sustainable palm oil production, as it does not require companies to physically purchase sustainable palm oil. Instead, companies can continue to buy non-sustainable palm oil while offsetting their purchases with GreenPalm certificates. Critics argue that this does not provide a strong enough incentive for palm oil producers to switch to more sustainable practices.
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References[edit | edit source]
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