Genting Bhd.

Overall approach

1/14
- Overarching commitment on deforestation
  
  0/6
  
  Deforestation commitment
  
  No
  
  0.00/6
  
  Open source document
- Signatory to an initiative tackling deforestation
  
  0/1
- Awareness of the value of forests
  
  1/1
  
  Awareness
  
  Yes
  
  1/1
  
  "Our commitment to protecting high conservation value (“HCV”) sites within our landholdings is a practice adopted since the early days. To date, the group has about 17,580 hectares of land established for conservation".
  
  Open source document
- Target to reduce emissions from land-use change
  
  0/3
- Reporting on emissions from land-use change
  
  0/3
  
  Report LUC emissions
  
  No
  
  0/3
  
  2016-2018
Commodity score

49/86
- Palm oil
  
  49/86
  - Commitment Strength
    
    27/36
    - Commitment to protect priority forests
      
      13/15
      - Commitment details
        Forest-related commitment
        
        6/8
        
        Commitment to protect priority forests
        
        Forest-related commitment
        
        6/8
        
        Type of commitment: Zero deforestation; Protects priority forests; Certification
        Certification schemes mentioned: RSPO
        
        "The new planting approach ensures areas with high conservation value (“HCV”) and high carbon stock (“HCS”) like virgin forest and peat land are preserved."
        
        Open source document
      - Commitment applies to all sourcing regions
        Yes
        
        1/1
        
        Commitment applies to all sourcing regions
        
        Yes
        
        1/1
        
        "The new planting approach ensures areas with high conservation value (“HCV”) and high carbon stock (“HCS”) like virgin forest and peat land are preserved."
        
        Open source document
      - Commitment applies to all operations
        Yes
        
        1/1
        
        Commitment applies to all operations
        
        Yes
        
        1/1
        
        "The new planting approach ensures areas with high conservation value (“HCV”) and high carbon stock (“HCS”) like virgin forest and peat land are preserved."
        
        Open source document
      - Commitment applies to all direct suppliers
        Yes
        
        1/1
        
        Commitment applies to all direct suppliers
        
        Yes
        
        1/1
        
        "Genting Plantations commitment on halting deforestation by protecting and conserving areas with high carbon stock is further strengthened with the recent endorsement of the RSPO P&C 2018"
        
        Open source document
      - Commitment applies to all indirect suppliers
        Yes
        
        1/1
        
        Commitment applies to all indirect suppliers
        
        Yes
        
        1/1
        
        "Genting Plantations commitment on halting deforestation by protecting and conserving areas with high carbon stock is further strengthened with the recent endorsement of the RSPO P&C 2018"
        
        Open source document
      - Target date
        Current
        
        1.3/1.3
        
        Target date
        
        Current
        
        1.3/1.3
        
        In 2017, Genting Bhd stated that they aim "to achieve full RSPO certification within the next two years".
        
        Open source document
      - Target is quantifiable
        Yes
        
        1.3/1.3
    - Commitment to protect High Carbon Stock areas and/or peatlands
      
      9/11
      - Commitment details
        Yes
        
        4/4
        
        Commitment to protect High Carbon Stock areas and/or peatlands
        
        Yes
        
        4/4
        
        Type of commitment: HCS; Peat
        
        "Genting Plantations commitment on halting deforestation by protecting and conserving areas with high carbon stock" also extends to Genting "avoid[ing] developing any new plantings on peat where such high conservation values and high carbon stocks exist."
        
        Open source document
      - Commitment applies to all sourcing regions
        Yes
        
        1/1
        
        Commitment applies to all sourcing regions
        
        Yes
        
        1/1
        
        "Genting Plantations commitment on halting deforestation by protecting and conserving areas with high carbon stock" also extends to Genting "avoid[ing] developing any new plantings on peat where such high conservation values and high carbon stocks exist."
        
        Open source document
      - Commitment applies to all operations
        Yes
        
        1/1
        
        Commitment applies to all operations
        
        Yes
        
        1/1
        
        "Genting Plantations commitment on halting deforestation by protecting and conserving areas with high carbon stock" also extends to Genting "avoid[ing] developing any new plantings on peat where such high conservation values and high carbon stocks exist."
        
        Open source document
      - Commitment applies to all direct suppliers
        No
        
        0/1
      - Commitment applies to all indirect suppliers
        No
        
        0/1
      - Target date
        Current
        
        1.3/1.3
      - Target is quantifiable
        Yes
        
        1.3/1.3
        
        Target is quantifiable
        
        Yes
        
        1.3/1.3
    - Commitment to a traceable supply chain
      
      6/11
      - Commitment details
        traces to Point of production
        
        4/4
        
        Commitment to a traceable supply chain
        
        traces to Point of production
        
        4/4
        
        Genting Bhd. produce the majority of their raw materials themselves, and "tracks and monitors the movement of FFB to CPO and refined products at our estates, oil mills, refinery, and biodiesel plants as well as our suppliers and customers."
        
        Open source document
      - Commitment applies to all sourcing regions
        Yes
        
        1/1
        
        Commitment applies to all sourcing regions
        
        Yes
        
        1/1
        
        Genting Bhd. produce the majority of their raw materials themselves, and "tracks and monitors the movement of FFB to CPO and refined products at our estates, oil mills, refinery, and biodiesel plants as well as our suppliers and customers."
        
        Open source document
      - Commitment applies to all operations
        Yes
        
        1/1
        
        Commitment applies to all operations
        
        Yes
        
        1/1
        
        Genting Bhd. produce the majority of their raw materials themselves, and "tracks and monitors the movement of FFB to CPO and refined products at our estates, oil mills, refinery, and biodiesel plants as well as our suppliers and customers."
        
        Open source document
      - Commitment applies to all direct suppliers
        No
        
        0/1
        
        Commitment applies to all direct suppliers
        
        No
        
        0/1
        
        "All palm oil produce procured by the company from third parties are through direct supply from neighbouring estates, smallholders, mills and refneries. Although the identities of our suppliers are known, we do not claim the traceability to their estates as we continue to strengthen our supplier review process."
        
        Open source document
      - Commitment applies to all indirect suppliers
        No
        
        0/1
        
        Commitment applies to all indirect suppliers
        
        No
        
        0/1
        
        "All palm oil produce procured by the company from third parties are through direct supply from neighbouring estates, smallholders, mills and refneries. Although the identities of our suppliers are known, we do not claim the traceability to their estates as we continue to strengthen our supplier review process."
        
        Open source document
      - Target date
        No deadline
        
        0/1.3
        
        Target date
        
        No deadline
        
        0/1.3
        
        Genting Bhd. produce the majority of their raw materials themselves, and "tracks and monitors the movement of FFB to CPO and refined products at our estates, oil mills, refinery, and biodiesel plants as well as our suppliers and customers."
        
        Open source document
      - Target is quantifiable
        No
        
        0/1.3
  - Reporting and Implementation
    
    17/34
    - Reporting against commitments
      
      4/6
      - Commitment to protect priority forests
        Yes
        
        2/2
        
        Commitment to protect priority forests
        
        Yes
        
        2/2
        
        Genting Bhd. report on their progress towards the implementation of this commitment through submitting their ACOP to RSPO annually.
        
        Open source document
      - Commitment to protect High Carbon Stock areas and/or peatlands
        No
        
        0/2
      - Commitment to a traceable supply chain
        Yes
        
        2/2
        
        Commitment to a traceable supply chain
        
        Yes
        
        2/2
        
        Genting Bhd. track the traceability in their supply chain, and report this through their Annual Report.
        
        Open source document
    - Reporting is independently verified
      
      1/4
      - Commitment to protect priority forests
        Yes
        
        1.3/1.3
        
        Commitment to protect priority forests
        
        Yes
        
        1.3/1.3
        
        certification
        
        Through submitting their ACOP to RSPO to continue their RSPO certification, the progress towards the commitment implementation of Genting Bhd. is independently verified.
        
        Open source document
      - Commitment to protect High Carbon Stock areas and/or peatlands
        No
        
        0/1.3
      - Commitment to a traceable supply chain
        No
        
        0/1.3
    - Deforestation cut off date
      No
      
      0/2
    - Monitoring and verification of supplier compliance
      No monitoring
      
      0/4
    - Engagement with non-compliant suppliers
      No engagement or exclusion
      
      0/4
    - Publishing supplier lists
      Discloses supplier list
      
      4/4
      
      Publishing supplier lists
      
      Discloses supplier list
      
      4/4
      
      Genting Bhd. provide a map and a list of their plantations and suppliers.
      
      Open source document
    - Accessible grievance mechanism
      Yes
      
      4/4
      
      Accessible grievance mechanism
      
      Yes
      
      4/4
      
      Both
      
      "Concerns can be raised verbally or in writing to any of our head of operating units, or directly to our headTuarters. To submit a concern under our whistle blowing channel, Nindly contact us or refer to our Whistleblower Policy on our website for more information"
      
      Open source document
    - Collaborative actions
      No
      
      0/2
    - Report volumes of commodity
      Full
      
      4/4
      
      Report volumes of commodity
      
      Full
      
      4/4
      
      3.13 million tonnes
      
      Genting Bhd. report on their production of different products on an annual basis.
      
      Open source document
  - Social Considerations
    
    4/16
    - Commitment to ensure Free, Prior and Informed Consent
      Yes
      
      4/4
      
      Commitment to ensure Free, Prior and Informed Consent
      
      Yes
      
      4/4
      
      "Prior to any new land acquisition or land development, the Company identifes and engages with the relevant stakeholders to ensure benefcial outcomes for all parties involved as part of the on-going FPIC process."
      
      Open source document
    - Labour rights in the supply chain
      No
      
      0/4
    - Gender equality in the supply chain
      No commitment
      
      0/4
    - Inclusion of small-scale farmers
      No
      
      0/4
Commitment strength

27/36

Avg. score
Reporting and Implementation

17/34

Avg. score
Social considerations

4/16

Avg. score

Profile

Genting is a large investment and management company with major operations in hospitality, energy, and palm oil, especially in palm oil processing. The company’s landbank is one of the ten largest landbanks for palm oil globally, with about 240,000 hectares located in Malaysia and Indonesia as of 2015. It also owns several processing facilities with the capacity in 2015 to process more than 1.5 million fresh fruit bunches annually. Genting claims this makes them one of the leading and lowest cost palm oil producers in Malaysia.

Sector

Industry sector

Agri commodities, Agriculture

Segments

Producer

Malaysia

Company Type

Company type

Public listed

Collective Commitments

Consumer Goods Forum member

New York Declaration on Forests signatory

How we assess the Forest 500

To ensure deforestation free supply chains, companies need to adopt and implement timebound and measurable policies for forest risk commodities.

All assessments use policies published on company websites, some links may have changed or been removed since the time of assessment.

Full corporate sector performance data Forest 500 assessment methodology

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Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

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genting_berhad.jpg

Total

Score:

Total score:

49%

Profile

How we assess the Forest 500

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Disclaimer

genting_berhad.jpg

Genting Bhd.

Total

Score:

Total score: 49%

Profile

How we assess the Forest 500

More companies

Disclaimer

Total score:

49%