NBPO22 Mar 2011 07:02
CERTIFICATION BY THE ROUNDTABLE ON SUSTAINABLE PALM OIL OF ITS
ENTIRE SOLOMON ISLAND OPERATIONS
New Britain Palm Oil Limited (LSE: NBPO), one of the world's largest fully integrated producers of sustainable palm oil, is pleased to announce that its entire palm oil estates and operations, inclusive of smallholders, at Guadalcanal Plains Palm Oil Limited ("GPPOL") in the Solomon Islands, have been officially certified by the Roundtable on Sustainable Palm Oil ("RSPO") as conforming to RSPO Principles and Criteria on sustainability.
NBPOL's operations in West New Britain and Ramu inclusive of smallholders already achieved RSPO certification in September 2008 and August 2010 respectively. NBPOL has also given a firm commitment to have all its remaining units and supply chains at its three plantations acquired in April 2010 with the acquisition of Kula Palm Oil Limited ("KPOL"), up to certification standard and audited by the end of 2012. NBPOL was one of the first companies to be RSPO certified and was the first producer of palm oil to achieve this standard for smallholders.
NBPOL delivers high quality, 100% certified sustainable palm oil fully segregated and traceable from seed to finished product to its customers in the UK and Europe from its UK refinery in Liverpool. Key sales contracts have already been signed with customers including Ferrero Group, United Biscuits, Jordans, Bako, Nortech and Olympic Foods, driven partly by NBPOL's sustainability and traceability credentials.
NBPOL will also deliver bakery and foodservice products in which the palm oil components only come from certified sustainable sources when its new processing facility at its Liverpool palm oil refinery comes on stream in spring 2012. These products will be made from sustainable palm oil and stearin at competitive prices - tackling head on the claim from some of the existing bakery fats suppliers that these products are too hard to source in an affordable way. The new facility, which recently gained planning permission, will have the capability of meeting a significant percentage of the UK bakery and foodservice sector demand. All of the UK's major retailers have previously announced their intention to convert all palm based products to segregated, certified sustainable by 2015 and together these facilities will bring that reality significantly closer.
The RSPO's global sustainability standard defines how sustainable palm oil should be grown and verified and an assurance mechanism for traceability throughout the entire supply chain. NBPOL's RSPO certification underlines the Company's full compliance with strict social, environmental and economic criteria. This demonstrates that NBPOL is wholly committed to sustainability and it is a strong endorsement of the quality of the management and operations of the Company.
RSPO certification is important not just for the Company's own operations but also fo