Kellogg Company (NYSE: K) announced today it will purchase GreenPalm
certificates to cover 100% of its global palm oil use and help fund sustainable
palm oil production.
GreenPalm estimates
that only 6% of the current global supply of palm oil is sustainably grown.
The Roundtable on Sustainable Palm Oil (RSPO) continues to
work toward the development of a consistent and sufficient supply of
segregated, sustainably grown palm oil, however, it is currently not available
outside of Europe and the form of palm oil Kellogg uses in Europe is not
available in a segregated, sustainable supply.
Kellogg Company said it intends to purchase sustainable palm
oil once a segregated palm oil supply is available that is financially and
logistically feasible. In the meantime, the Company will help reduce
deforestation from palm oil production through its support of GreenPalm
certificates.
Kellogg uses approximately 0.1%of the global supply of palm oil
annually.
"As the first in the U.S. food industry to take this
step, they’re setting an example for others to follow," said Jason W.
Clay, Ph.D., Senior Vice President, World Wildlife Fund.
Kellogg
also said it will encourage its blended palm oil suppliers to continue to
increase the percentage of sustainable palm oil in the supplies they purchase,
as the available supply increases.
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