Press Releases Sinar Mas Agribusiness and Food Joins World Business Council for Sustainable Development

Singapore, 6 February 2024 – The World Business Council for Sustainable Development (WBCSD) announces Sinar Mas Agribusiness and Food, a leading global agribusiness and palm oil producer, as its newest member to join forces with a global network of 200 businesses committed to accelerating the transition to a more sustainable world.

Sinar Mas Agribusiness and Food will contribute to the Agriculture & Food Pathway, aiming to enhance collaboration across the sector and support the Equitable Livelihoods workstream. Sinar Mas Agribusiness and Food’s primary focus within the workstream is to support the creation of thriving and resilient agriculture and food systems that support equitable livelihoods for all workers, placing farmers’ prosperity at the heart of food systems.

Food systems are responsible for around one third of greenhouse gas emissions caused by human activity. Recent announcements such as the COP28 declaration on sustainable agriculture and the FAO’s global roadmap for agrifood systems demonstrate a growing global consensus about the integral role agriculture and food sectors must play in climate solutions.

Commenting on Sinar Mas Agribusiness and Food’s decision to join the organization, Peter Bakker, WBCSD President & CEO said, “We are delighted to welcome GAR to our global network and celebrate its commitment to fostering positive change in agriculture and food systems. This collaboration underscores our belief that food systems can be a vital part of the solution to the climate and nature crisis, creating value for all stakeholders – from businesses, to farmers, to financiers, and local governments. We look forward to working with GAR and leveraging the collective expertise of our community to deliver ambitious, necessary change for a more sustainable world.”

Emphasis will be placed on Scope 3 data accounting and metrics to track and measure the contribution of agricultural practices to its climate targets, with the overarching goal of protecting, restoring, and enhancing nature’s capacity to deliver ecosystem services.

Additionally, Sinar Mas Agribusiness and Food’s participation as a member of the Council aims to advance progress on the UN Guiding Principles on Business and Human Rights, leveraging the group’s collective expertise and resources to drive positive change, while bringing a Southeast Asian business perspective to address global priorities.

“In WBCSD, we join a global network of companies aiming to accelerate and scale sustainable practices in the areas that matter most for business, the environment and the societies where we operate,” said Jesslyne Widjaja, Executive Director, Sinar Mas Agribusiness and Food. “Sinar Mas Agribusiness and Food believes in the power of partnerships to tackle complex, interconnected issues, and we look forward to learning and growing alongside WBCSD and its members to deliver ambitious, necessary change that will support the transition to a more sustainable world.”

Guided by its comprehensive Social and Environmental Policy (GSEP), Sinar Mas Agribusiness and Food sets industry-leading standards for sustainable business practices across its supply chain. This commitment underscores Sinar Mas Agribusiness and Foods ethos of harmonizing economic growth, social progress, and environmental preservation.

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About Sinar Mas Agribusiness and Food

Sinar Mas Agribusiness and Food, part of the Golden Agri-Resources (GAR) group of companies, is a leading global agribusiness based on palm oil production, with a planted area of more than 534,456 hectares (including plasma smallholders) as of 30 September 2023. The company has an integrated operation producing food made from raw vegetable oils.

Sinar Mas Agribusiness and Food is focused on sustainable 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; merchandising and refining CPO into value-added products such as cooking oil, margarine, shortening, and biodiesel; as well as trading of palm oil products worldwide. 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.

Its parent company, GAR was founded in 1996 and listed on the Singapore Exchange in 1999 with a market capitalisation of US$2.5 billion as of 30 September 2023. Flambo International Limited, an investment company, is currently GAR’s largest shareholder, with a 50.56 percent stake. GAR has several subsidiaries, including PT SMART Tbk which was listed on the Indonesia Stock Exchange in 1992.

For more information about our company, visit https://www.smart-tbk.com.

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