Singapore-listed Golden Agri-Resources (GAR) has released its Sustainability Report 2024, highlighting a year of significant progress in its climate ambitions and sustainability commitments. The report outlines GAR’s efforts to combat deforestation, enhance traceability, and support resilient agricultural communities amidst global challenges such as economic shifts and extreme weather.
GAR’s Chairman and CEO, Franky O Widjaja, emphasised the company’s commitment to sustainability, stating, “At GAR, sustainability isn’t just a part of our business strategy; it is our business strategy.” The report introduces a double materiality assessment, addressing both the company’s environmental and social impacts and their influence on GAR’s long-term resilience and financial performance.
Key developments include the launch of the “Collective for Impact” framework, which focuses on responsible sourcing, caring for the planet, and empowering people. This strategy extends beyond GAR’s Indonesian palm oil supply chain to encompass its entire business and value chain. Anita Neville, GAR’s Chief Sustainability and Communications Officer, noted, “Collective for Impact strengthens our resilience, creates long-term value, and builds trust to keep us ahead of global expectations.”
In 2024, GAR set ambitious targets to reduce emissions by 2030, aiming for net zero emissions by 2050. Despite a 7% increase in total emissions due to a rise in supply chain emissions, the company achieved a 3% reduction in direct emissions through energy efficiency and renewable energy initiatives.
GAR has also made strides in transparency and traceability, achieving 99.5% traceability to the plantation in its Indonesian palm oil supply chain and 100% traceability to the mill for other commodities globally. The company continues to support communities through its Bright Future Initiative, empowering micro, small, and medium enterprises with skills and training.
As GAR advances its sustainability journey, it remains committed to responsible production and global delivery, ensuring compliance with upcoming regulations such as the European Union Deforestation Regulation.
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