IFFCO Wins Special Award for Best SDG 15 at ESG World Summit, Singapore
PT. Synergy Oil Nusantara, a Business Unit of IFFCO Group, has received Best SDG Impact Award for its deforestation risk mapping project at ESG World Summit and GRIT Awards
As a leading international group engaged in manufacturing an integrated range of food products, derivatives, and intermediates, IFFO is mindful of the significant environmental impact of supply chains.
PT. Synergy Oil Nusantara, among the largest Business Unit of IFFCO Group, has received the award for Best SDG Impact for its deforestation risks mapping project at ESG World Summit and GRIT Awards event held in Singapore on 22-23 July 2022.
This Award is a recognition of PT. Synergy Oil Nusantara’s efforts to map its supply base by scrutinizing 477 GPS points representing 1,459 sources of palm fresh fruits bunches (FFBs) in an area larger than the size of the Netherlands. Extensive geospatial analysis of the GPS points revealed 5% potential risk areas for deforestation, 1.5% for peat and 8% for fire risk hot spots. This has paved the way for IFFCO roadmap co-opting suppliers towards environmental risk reduction based on time-bound recovery plans. Suppliers failing to jointly work on risk mitigation will be able to re-enter the suppliers pool upon meeting the necessary conditions.
Coming from a jury comprised of experts from United Nations Intergovernmental Policy and Review Branch, Food Bank Singapore, IFAC organisation, USA and others prestigious bodies, the Award validates IFFCO’s ongoing contribution towards SDG target 15.2, the target is promoting sustainable management of all types of forest, halting deforestation, restoring degraded forest, and increasing afforestation and reforestation.
Since 2019, IFFCO has adapted the ESG framework for sourcing vegetable oil, an important raw material for several IFFCO production sites in UAE, Saudi Arabia, Egypt, Pakistan, and Indonesia. The initiative involves traceability of agricultural crops to their origin; and an assessment of their impact on the environment such as potential deforestation risks, loss of biodiversity, and consequent Climate Change risks.
IFFCO reiterates its dedication to the journey towards long-term sustainability in partnership with its stakeholders.