Sukanto Tanoto, Founder and Chairman of Royal Golden Eagle (RGE), has adopted sustainable palm oil practices, through an important alliance formed in 2018. The alliance includes these two companies managed by RGE—Apical and Asian Agri, operating under the name ‘SUSTAIN’. The launch took place in Singapore.
Sustainability Assurance & Innovation Alliance (SUSTAIN) is a group of oil palm growers, palm oil processors, consumer goods manufacturers, not-for-profit organisations and technology leaders that initiated a blockchain solution. This solution was meant to increase traceability in the production chain and help improve NDPE (No Deforestation, No Peat, No Exploitation) compliance in the palm oil chain.
According to Builtin.com block is defined as follows: “Blockchain, sometimes referred to as Distributed Ledger Technology (DLT), makes the history of any digital asset unalterable and transparent through the use of decentralisation and cryptographic hashing.”
Other companies present at the launch event were as follows: renewable diesel producer Neste, consumer goods manufacturer KAO, facilitation team CORE (Proforest and Daemeter), and technology partner SAP.
The goal of the alliance is to provide palm oil to individuals who are increasingly demanding vegetable oil. Palm oil will be demonstrated as the cheaper alternative.
“SUSTAIN is not about building another traceability data collection tool, analytics or dashboard. The key focus of SUSTAIN is to promote collaboration and align efforts in solving landscape-level issues by leveraging on technology to address shared challenges in the supply chain,” said Dato’ Yeo How, President of Apical Group. “We aim to work together with industry partners … Read More . . .