Environmental and social risk management in palm oil – the role of governance and lessons learned from SPOTT
SPOTT* promotes industry transparency and accountability to drive the uptake and implementation of environmental and social best practice in commodity production. It provides detailed assessments of palm oil companies on their disclosure of operations, and their commitments and progress towards the implementation of environmental and social best practice. The company assessment framework has been designed in consultation with palm oil companies, investors and NGOs.
This webinar will mark the launch of a revised assessment framework for 2017 that incorporates indicators assessing transparency on land and community rights, labour rights, and governance. The consultation process with companies and investors highlighted contrasting perspectives and expectations of how Environmental, Social and Governance issues are reported and addressed. The PRI and ZSL invite you to join a webinar with investors and palm oil companies to discuss the range of views revealed results of this consultation.
A lack of strong guidance can result in inconsistent reporting formats, which are not fit-for-purpose. It is critical to effectively identify which issues are material to both companies and investors, and what metrics are relevant to addressing them. Both parties require a shared understanding of what constitutes best practice; how it is to be implemented; and what meaningful information looks like.
The webinar will discuss governance factors, which frequently provide the first entry point for investors to assess robust and accountable company management and evaluate preparedness for dealing with sustainability challenges.
* SPOTT is an online platform providing a scorecard and detailed company assessments to support transparency and corporate best practice. SPOTT provides commodity producer companies with a framework against which to report, clearly setting out expectations for public disclosure of commitments and progress. SPOTT enables investors and other stakeholders to engage with companies in support of sustainable commodity production. SPOTT is expanding its scope to cover other commodities, beginning with assessments of timber, pulp and paper companies in 2017.
- Moderator: Mark Mills, Generation Investment Management
- Hilde Jervan, Chief Advisor Council on Ethics, Norwegian Government Pension Fund
- Shuling Lim, Head of Sustainability Communications, GAR
- Peter Van der Werf, Engagement Specialist, RobecoSAM
- Leonie Lawrence, Commodities Manager, ZSL