We are very excited to share LIPSA’s 3rd Sustainability Progress Report as well as our Sustainable Palm Oil Action Plan for 2022-2023.
The main sustainability challenges that we aim to achieve during 2022 and beyond are as follows:
- Reach 70% of palm oil volume traceable to plantation. This represents a 20% increase over 2021 and will involve continuing to work with our direct and indirect suppliers to achieve this. The ambitious challenge for 2025 is to have 100% traceability to plantation.
- Deforestation verification in our supply chain: We will monitor with Starling (Airbus and Earhtworm Foundation satellite verification tool) 90% of the total volume of palm we have sourced by 2021. Action plans will be established with suppliers that are detected in at-risk and deforested areas and we will work with them to increase the total volume considered free of deforestation that we supply. The ambitious challenge for 2025 is to have a 100% verified deforestation-free chain.
- We will continue to collaborate in Guatemala together with Earthworm Foundation and Grepalma. Since 2019 we are actively collaborating with these two entities to promote social performance and excellence in terms of labor and human rights protection in the Guatemalan palm oil sector.
Beyond Palm Oil, and with the idea of continuing to improve and act to improve the environmental and social conditions of our times, in LIPSA we have committed in this 2022 to start working on the traceability of Soybean oil. During 2022 we want to study LIPSA’s exposure to supply areas considered high risk in terms of deforestation. We will understand our supply chain in order to define the next steps and work towards a verified deforestation-free soybean oil supply chain. With this we are also preparing and advancing to the next European regulations concerning Deforestation: Proposal for a regulation on deforestation-free products.
For LIPSA, sustainability is a journey, not a destination. With these ambitious objectives for 2025: 100% traceability to plantation and 100% deforestation-free volume for Palm Oil and traceability and verification for Soybean Oil; LIPSA continues to align and commit to the main objectives being set by the industry in general, both at the level of our main customers and our competitors.
All documentation is available here.