Singapore, 31 August 2022– Golden Agri-Resources (GAR) has won the 2022 Singapore Environmental Achievement Awards (SEAA) – Regional Award (Merit). This is the second time that GAR has received an SEAA award.
At the award ceremony presided over by Ms Grace Fu, Minister for Sustainability and the Environment, GAR was recognised for its commitment to environmental stewardship and embedding sustainability as part of the company’s culture. The SEAA also recognised GAR as one of the few integrated palm oil companies that are strongly committed to traceability and transformation across its supply chain.
GAR embarked on its supply chain transformation journey in 2014 and achieved full Traceability to the Mill at the end of 2015. Currently it is completing full Traceability to the Plantation (TTP) for its palm supply chain and has achieved 95 percent traceability back to the origin. This allows GAR to help guide its suppliers including smallholders to implement No Deforestation, No Peat and No Exploitation (NDPE) principles.
“At GAR, we believe that supply chain transformation is critical because it allows us to bring all our suppliers, including tens of thousands of smallholders along with us on our sustainability journey. We are grateful for the recognition of our efforts and hope that it demonstrates that the palm oil industry is serious about long-term change and sustainability,” said Ms Anita Neville, GAR’s Chief Sustainability and Communications Officer.
The SEAA also recognised GAR for having a sustainability roadmap in the form of the GAR Social and Environmental Policy (GSEP) which contains GAR’s NDPE commitments. Under this policy, GAR conserves over 79,000 hectares of forests within its own concessions. Meanwhile, it is also working with local communities to conserve another 43,000 hectares and is supporting the efforts of its suppliers to protect some 117,000 hectares of forests.
The SEAA noted GAR’s focus on biodiversity conservation and maximising productivity while minimising environmental impacts through R&D. GAR also ensures that the GSEP is shared with employees, smallholders, suppliers and customers as they work together to realise its vision of a sustainable and responsible supply chain.
About Golden Agri-Resources Ltd.
GAR is a leading palm oil plantation company in Indonesia with a total planted area of 537,720 hectares (including plasma smallholders) as of 30 June 2022. It has integrated operations focused on the technology-driven production and distribution of an extensive portfolio of palm-based products.
Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$2.3 billion as of 30 June 2022. Flambo International Limited, an investment company, is GAR’s largest shareholder, with a 50.56 percent stake. In addition, GAR has several subsidiaries, including PT SMART Tbk, which was listed on the Indonesia Stock Exchange in 1992.
As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting oil palm trees; the processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR’s products are delivered to a diversified customer base in approximately 100 countries through its global distribution network with shipping and logistics capabilities, destination marketing, on-shore refining and ex-tank operations. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, and sugar businesses.
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About the SEAA
The Singapore Environmental Achievement Awards (SEAA) is one of the most prestigious environmental awards in Singapore and the region. It recognises overall environmental stewardship by organisations. It is in support of the Sustainable Singapore Movement, which seeks to rally and inspire everyone to do their part and take action towards environmental initiatives.
Since its inception, 111 awards have been given out to organisations of different industries. Companies that are recognised by the SEAA join an elite pool of organisations from the region that have affirmed their commitment to environmental excellence and protection of the natural environment. For more information on SEAA, please visit www.sec.org.sg/seaa.