Sourcing hub features risk assessments for palm oil, soy
NEPCon, a London-based non-profit organization focused on sustainability, in August released its NEPCon Sourcing Hub that details forest-related risk assessments. The Sourcing Hub includes risk assessments for palm oil, soy and beef that address environmental, social and legality risks in 10 countries. The risk assessments cover 82% of global palm oil production.
The Sourcing Hub enables companies to focus attention on the areas where there is the greatest risk of buying commodities that were produced irresponsibly, according to NEPCon (Nature Economy and People Connected). The Sourcing Hub for palm oil covers Indonesia, the world’s largest producer of palm oil, and Malaysia. The Sourcing Hub for soy covers Brazil, Argentina and China.
“The timber industry is more and more using this sort of risk-based due diligence approach to minimize the risks of sourcing illegal wood,” said Christian Sloth, forest legality program manager for NEPCon. “What we’ve done here is to apply a similar approach to reducing the risks associated with sourcing palm oil, soy and beef. The risk assessments allow companies to evaluate the risks of negative business, social and environmental impacts when sourcing these commodities.”
