Golden Agri-Resources debuts on FTSE4Good Index Series
20 Jul, 2018, 08:44 BST
SINGAPORE, July 20, 2018 /PRNewswire/ -- Golden Agri-Resources (GAR) has debuted on the FTSE4Good Index Series. The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. Last year, GAR debuted on the Dow Jones Sustainability Index (DJSI) Indices, the first Southeast Asian palm oil company to be included in the DJSI Asia-Pacific Index. GAR is also a member of the SGX ESG Indices, including the Sustainability Leaders Index.
"We are honoured to be recognised for our efforts in continuously improving our ESG performance. As inclusion is based on an annual review of our performance, this will encourage us to continue on the path of adopting and implementing globally-recognised standards and to share that commitment with our supply chain," said Mr Rafael B Concepcion Jr., Chief Financial Officer of GAR.
GAR's recent ESG achievements include achieving 100 percent Traceability to the Plantation (TTP) for all 44 of its own mills in 2017, mapping over 70 brokers and some 11,000 smallholders supplying palm raw materials to GAR mills. This means that 39 percent of GAR's palm supply chain is now fully traceable. This is enabling GAR to reach out to more and more of its suppliers all the way back to origin and this is key to GAR's efforts to transform its supply chain by sharing responsible practices. GAR is also working with over 400 third-party supplier mills to help them achieve TTP by end 2020.
In addition, GAR continues to make progress in forest conservation by maintaining some 72,000 hectares of conservation area and implementing innovative community conservation partnerships. To date, 13 villages have signed on to help protect over 7,000 hectares of High Carbon Stock forests.
To read more about GAR's progress in responsible palm oil, download GAR's latest Sustainability Report at https://goldenagri.com.sg/sustainability/sustainability-report/.
About Golden Agri-Resources Ltd (GAR)
GAR is one of the leading palm oil plantation companies with a total planted area of 500,345 hectares (including plasma smallholders) as at 31 March 2018, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat.
Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$3.4 billion as at 31 March 2018. Flambo International Limited, an investment company, is currently GAR's largest shareholder, with a 50.35 percent stake. GAR has several subsidiaries, including PT SMART Tbk which was listed on the Indonesia Stock Exchange in 1992.
GAR is focused on responsible palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleochemicals; as well as merchandising palm products throughout the world. It also has operations in China and India including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products such as noodles. For more information, visit: www.goldenagri.com.sg
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SOURCE Golden Agri-Resources Ltd (GAR)