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The World Bank Group reengages palm oil sector

  • betting on palm oil-world bank group in Johannesburg
  • betting on palm oil-world bank group in Johannesburg
  • betting on palm oil-world bank group in Johannesburg
  • betting on palm oil-world bank group in Johannesburg

PALM OIL REVIEW AND OUTLOOK FCR BANK LENDING

The Palm Oil Sector IFC

Sustainable palm oil production and the World Bank

World Bank Group Adopts new Approach for Investment in Palm Oil

  • How can the World Bank engage the palm oil sector?
  • With these conditions, the palm oil sector can play an important role to economic development and poverty reduction. By engaging it, the World Bank can make a positive contribution. The World Bank Group has adopted the World Bank Group Framework and IFC Strategy to guide future engagement in the global palm oil sector.
  • How many banks have a policy on palm oil?
  • Nine banks identified palm oil as a key sector and have a specific policy or approach for palm oil and / or agriculture. However, only three banks’ policies applied to all operations and financial products. One bank scored partial points due to its exclusion of SMEs. Only one out of the 10 banks publicly disclosed its full sector policy document.
  • What does the moratorium mean for the palm oil sector?
  • The moratorium has allowed the World Bank Group to assess all the issues in the palm oil sector with inputs from stakeholders through an open, transparent and participatory process.
  • How can investors support sustainable palm oil in Asia?
  • Given the global interconnectedness of palm oil and other vegetable oil supply chains and deforestation, it is crucial for all market actors to ensure palm oil is produced sustainably. Investors can support the global work of the RSPO and / or stakeholder initiatives focusing on sustainable palm oil in Asia, including the following:

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