Advertisement
Canada markets open in 6 hours 18 minutes

  • S&P/TSX

    21,740.20
    -159.79 (-0.73%)
     

  • S&P 500

    5,061.82
    -61.59 (-1.20%)
     

  • DOW

    37,735.11
    -248.13 (-0.65%)
     

  • CAD/USD

    0.7246
    -0.0007 (-0.09%)
     

  • CRUDE OIL

    85.68
    +0.27 (+0.32%)
     

  • Bitcoin CAD

    87,298.48
    -4,316.81 (-4.71%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • GOLD FUTURES

    2,390.40
    +7.40 (+0.31%)
     

  • RUSSELL 2000

    1,975.71
    -27.47 (-1.37%)
     

  • 10-Yr Bond

    4.6280
    0.0000 (0.00%)
     

  • NASDAQ futures

    17,852.25
    -24.00 (-0.13%)
     

  • VOLATILITY

    19.23
    0.00 (0.00%)
     

  • FTSE

    7,965.53
    0.00 (0.00%)
     

  • NIKKEI 225

    38,471.20
    -761.60 (-1.94%)
     

  • CAD/EUR

    0.6825
    +0.0001 (+0.01%)
     
MARKETS LIVE BLOG:

STOCKS SLIP WITH MIDEAST TENSIONS, EARNINGS IN PLAY

Oil pares losses as traders anticipate Israel's response to Iranian attack

Musim Mas Group Releases Its 4th Annual Sustainability Report With Selected Disclosures in the Report Independently Assured by Ernst & Young LLP (EY)

News Direct
·3 min read

Northampton, MA --News Direct-- Musim Mas

Musim Mas Group releases its fourth annual Sustainability Report, which updates the Group’s sustainability performance for the 2020 calendar year (unless otherwise stated), and is to be read in conjunction with the sustainability-related disclosures on its website. This year, the Group has contracted Ernst & Young LLP (“EY”) to verify selected sustainability disclosures made in the report.

The report is structurally aligned with the Group’s updated Sustainability Policy (2020-2025), launched in September 2020. It also introduces the Group’s contributions to the United Nations’ Sustainable Development Goals (“SDGs”).

With an updated Policy, the Group lays out a renewed and deepened commitment to improving the livelihoods of smallholders, workers, and communities while maintaining a strict stance on No Deforestation, No Peat, and No Exploitation (“NDPE”).

ADVERTISEMENT

Aspiring to have a tangible, long-term impact, the Group collaborates closely with other oil palm processors, downstream actors in consumer markets, civil society entities, and governments, especially at the local level. Thus, the Group is pursuing tailored landscape programs in four provinces in Indonesia, with the support of local governments, various implementation partners, and peer collaborators.

In 2020, Musim Mas published its five-year Aceh Strategy to engage various stakeholders in transforming the landscape. With this strategy, Musim Mas establishes itself as a leader in the region’s multi-pronged and multi-stakeholder sustainability efforts aimed at preserving the landscape for future generations.

Highlights of the 2020 Sustainability Report:

  • In 2020 and early 2021, Musim Mas launched three Smallholder Hubs in Aceh Tamiang, Aceh Singkil, and Dayun.

  • In 2020, the Group assessed social programs’ impact on communities and smallholders at one of its operations in Riau.

  • 100% of Musim Mas’ mills with plantations are RSPO-certified as of June 2021

  • In 2020, Musim Mas’ emission intensity was 47% less than its 2006 baseline and is well on track to achieve its 2025 target of a 55% reduction.

  • 100% traceability of CPO to the Group’s supply base of independent smallholders has been achieved. Overall, the company has achieved 83% traceability to place of production (or traceability to plantation, TPP) and is on track to meet its target of 100% traceability by 2025.

Due to COVID-19 restrictions, Musim Mas has temporarily suspended our on-the-ground sustainability efforts in these priority landscapes. Instead, we focused our efforts exclusively on our five-year landscape strategy for Aceh in 2020.

At the time of publication, the world continues to grapple with the realities of the COVID-19 pandemic. Some of the sustainability efforts in the field following government regulations have been scaled back, but the Group continued to pursue its NDPE commitments

Musim Mas’ 2020 Sustainability Report can be found here.

About Musim Mas

Headquartered in Singapore, Musim Mas is one of the world’s largest, integrated palm oil corporations with operations in every part of the supply chain across the Americas, Europe and Asia. Our global workforce pursues innovative and sustainable developments, ensuring product quality, safety and efficiency as the industry evolves.

As one of the most prominent players in the industry, it aspires to be a responsible leader in the evolution of the industry, driving a new era of sustainability with innovation. To that end, we take active steps to go beyond industry-recognized sustainability standards and will continue to step up in response to critical industry issues in our quest to contribute to a more sustainable industry and equitable world.

View additional multimedia and more ESG storytelling from Musim Mas on 3blmedia.com

View source version on newsdirect.com: https://newsdirect.com/news/musim-mas-group-releases-its-4th-annual-sustainability-report-with-selected-disclosures-in-the-report-independently-assured-by-ernst-and-young-llp-ey-484234782