Response by Sipef
We realise with great concern that, during 2019, NBIM has left the shareholding of SIPEF.
Our company is fully committed to the Roundtable on Sustainable Palm Oil (RSPO)...Our current development projects have all complied with the RSPO New Planting Procedure, and will be certified as soon as they become eligible. SIPEF has since 2014 issued and updated its Responsible Plantation Policy as a sign of our long term commitment to sustainable, deforestation-free agriculture.
Looking into your 2018 holdings, we have the impression that NBIM has turned back on all palm oil producers, regardless of their commitment and performance.
This is difficult to understand from NBIM, a long-term investor, representing Norway, a country with high environmental standards and expectations, and a deep knowledge of our sector as well as of the challenges of developing countries. It sends a very negative message about our entire sector, vital to the economies of Indonesia, Malaysia, Papua New Guinea, and the African continent and to millions of smallholders who depend on palm oil for their livelihoods.