Today New Britain Palm Oil Ltd (NBPOL) launches another first in the palm oil industry – the Group’s Annual Report and Sustainability Report, developed as integrated set of disclosures.
NBPOL has created these ‘partner reports’ to underline the Group’s commitment to sustainability. The reports cover all of NBPOL’s global operations, including the three plantation sites in Papua New Guinea acquired in 2010, as well as the New Britain Oils palm oil refinery in Liverpool, UK.
Highlights from the reports include:
- Record-breaking financial performance – 110% increase in profits and 69% increase in revenues
- Pioneering development of a fully traceable supply chain for RSPO certified sustainable palm oil
- World’s first carbon footprint report of refined palm oil products
- Successful RSPO certification of four plantations and almost 10,000 smallholders in PNG and Solomon Islands
- Strengthening of the Group’s corporate governance through a new risk management framework
- Phase-out of the herbicide Paraquat by 2012
- Stakeholder commentaries from global brands, investment professionals, NGOs and smallholders
Nick Thompson, Chief Executive of New Britain Palm Oil Limited, commented:
‘This year, New Britain Palm Oil takes a further step in demonstrating how our sustainable business practices continue to create shared value for our investors and customers and wider stakeholders over the longer term.
I am particularly pleased with the successes achieved in supporting smallholders around our plantations, as well as our progress in developing a comprehensive carbon reduction strategy. We know that EU customers increasingly look for such credentials and progress, and I believe that our achievements will drive further the growth of our business, delivering greater volumes of high quality, traceable, sustainable palm oil and stearin for customers in the UK and Europe at truly affordable prices.
By integrating our disclosures, we are strengthening our transparency to all stakeholders and underlining that sustainability and accountability is embedded in our business.’
Download the reports: