We are pleased to announce that Bunge Limited has become a TFT member, committing to taking further action on No Deforestation and No Exploitation in its palm oil supply chain. Bunge released a strong responsible palm oil sourcing policy in October 2014, and in September 2015 expanded its commitments to include multiple commodities, with the goal to improve the sustainability of its agricultural supply chains worldwide.
Through its palm policy, Bunge has committed to protect High Conservation Value (HCV) and High Carbon Stock (HCS) forests, the rights of indigenous peoples and communities, and the rights of labourers. The company’s newly released sustainable value chain commitment further acknowledges that issues of deforestation and exploitation are cross commodity and require urgent attention. Bunge operates primarily in the oilseed and grain value chains. With their responsible palm policy and a commitment to collaborate with TFT on long-term transformation in palm oil, Bunge has placed itself among the leaders within its industry.
Bunge has already begun to engage suppliers on meeting its policy; TFT’s role will be to help take the conversations further in order to gather crucial traceability information and help Bunge proactively tackle risks in its supply chain. Updates on the progress made by Bunge and TFT will be published twice a year on our respective websites.