GreenPalm, the certificate trading programme that enables businesses to support sustainable palm oil production, has announced the trade of its millionth certificate.
The milestone comes just two years after GreenPalm’s first certificate changed hands. Since then, the initiative has drawn support from businesses internationally, including Marks & Spencer, Cadbury, Burton’s Foods, Asda and Tesco.
GreenPalm, which is endorsed by the Roundtable on Sustainable Palm Oil, enables businesses to support sustainable palm oil production at its source by funding an equivalent amount of palm oil to that used in their products.
Bob Norman, GreenPalm general manager, said reaching a million certificates is evidence that it is possible to help make the palm oil industry sustainable and responsible through the commercial power of big business.
“When GreenPalm began, there were plenty of doubters telling us businesses wouldn’t go for it – they’d be scared of greenwashing claims, and they’d worry about the fact that GreenPalm doesn’t involve buying actual physical sustainable palm oil,” said Norman. “Now just look at the names that have signed up.”