Sime Darby Plantation achieves global milestone as first palm oil firm with validated net-zero targets
Sime Darby Plantation achieves global milestone as first palm oil firm with validated net-zero targets
KUALA LUMPUR (Dec 15): Sime Darby Plantation Bhd (SDP) has achieved a global milestone as the first palm oil company to have its net-zero targets approved by the Science Based Targets initiative (SBTi).
The validation by the SBTi came a year after SDP first announced its commitment to reach net-zero greenhouse gas (GHG) emissions across its value chain by 2050.
SDP group managing director Datuk Mohamad Helmy Othman Basha said in a statement on Friday that the development would spur the company to achieve its net-zero targets with even more urgency.
“The ongoing initiatives to reduce GHG emissions across our business include collaborative efforts with stakeholders throughout our value chain,” he added.
SDP is also one of the first global firms to have near- and long-term science-based emissions reduction targets emanating from 'forest, land and agriculture' as well as energy and industrial sources approved by the SBTi.
The company said it would prioritise direct emissions reductions (decarbonisation), while all residual emissions would be neutralised in line with SBTi criteria, along with efforts to eliminate deforestation in the supply chain and further engagement with its suppliers on emissions reduction.
Mohamad Helmy urged other industry players to commit to science-based net-zero targets, as well as to limit global temperature rise to 1.5°C.
This was in line with the deal reached at the COP28 summit on Thursday (Dec 14) in Dubai, where nearly 200 countries agreed to reduce fossil fuel consumption, he added.
"Given the urgency of the current climate crisis, achieving our net-zero targets has never been more important.
“It's not just a goal; it is our responsibility to address these pressing environmental challenges.
“If we all commit to these targets, we can work together to ensure the sustainability of our industry. It must be a collective effort; there is no other acceptable or responsible solution," said Mohamad Helmy.
SDP has implemented a three-pronged approach to accomplish its net-zero targets, namely acceleration of its renewables programme, land use transformation and accelerating engagements with suppliers.
Its net-zero aims are an integral part of its sustainability focus areas under three key elements: climate action, human rights and responsible sourcing.
