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Powerbroker for

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  • Overall approach
    8/12
    • Overarching commitment on deforestation
      3/4
      Zero deforestation/Deforestation-free commitment or, for timber, pulp & paper companies only, commitment to well implemented harvest and no deforestation of HCV & HCS areas
      3/4
      [translation] "We apply the "High Stock" approaches of Carbon ”(HCS / HSC) and“ High Value of Conservation ”(HCV / HVC)Since 2017, and our commitment to eliminate all deforestation, we apply the HSC20 approach: for everything new extension project, HCS study to be carried out to determine HSC areas to keep and plans actions will be put in place to effectively protect these zones."
    • Signatory to an initiative tackling deforestation
      1/1
      Yes
      1/1
      SOCFIN is a member of the Palm Oil Innovation Group.
    • Awareness of the value of forests
      1/1
      Yes
      1/1
      [translation]"We apply the "High Stock" approaches of Carbon ”(HCS / HSC) and“ High Value of Conservation ”(HCV / HVC)Since 2017, and our commitment to eliminate all deforestation, we apply the HSC20 approach: for everything new extension project, HCS study to be carried out to determine HSC areas to keep and plans actions will be put in place to effectively protect these zones."
    • Deforestation as a business risk
      1/1
      Yes
      1/1
      Does the company recognise the risk as financial, operational, competition, reputational, or other? Please detail.: Operational 
      "Preliminary studies conducted at the acquisition of an existing plantation or at the development of a new project, include an analysis of the risks related to climate change. Yields, pest management, ecosystem services, soils, availability of water and resources for the village communities, are the areas with the highest risk of being positively or negatively affected. [...] Direct employment, training on better agricultural practices [...], implementation of a zero deforestation policy in the supply chain, etc. are measures taken by the Group in order to limit climate change impact on local populations’ livelihood."
    • High-level management of deforestion
      0/1
    • Executive compensation linked to deforestation
    • Target to reduce emissions from land-use change
      2/2
      Yes
      2/2
       SOCFIN report their greenhouse gas emissions from their operations as a total of 11.47 tonnes of CO2 in 2019.
    • Reporting on emissions from land-use change
      0/2
    • Disclosure of conservation activity
      Yes
      0/0
      How many hectares of conservation area are being supported or facilitated by the company on land it does not own or manage?: 1,614 hectares
      [translation] "Initially 1,614 ha, the area of ​​the areas protected has recently been increased for reach 2,212 ha or 6.37% of the area total of the concession. This increase was carried out to give, to several forest blocks already existing and unexploited, internal official status of "protection", which aims to preserve territories that can serve as areas of refuge or transit to animals."
    • Disclosure of reforestation activity
      Yes
      0/0
      [translation] “We have launched reforestation actions to cover a total of 400 ha. Indeed, these areas - Valleyof Shanga, Cathedral, Molokai River - had suffered significant deforestation by communities. So, since the beginning of 2019, these are more 7,000 young rubber trees that have been planted there (we have dedicated our old rubber tree nursery) and, it is planned to continue reforestation with acacia ".
    • Target to reduce emissions in scope 1/2
  • Commodity score
    48/88
    • Palm oil
      48/88
      • Commitment Strength
        14/20
        • Commitment to protect priority forests
          4/8
          • Commitment details
            Protects priority forests (including High Conservation Value)
            2/6
            Commitment to protect priority forests
            Protects priority forests (including High Conservation Value)
            2/6
            Which certification schemes are used?: RSPO

            Does the company have a commitment to the protection of other specific named ecosystems?: HCS; Peat
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” ; "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Commitment applies to all regions, suppliers and operation
            Yes
            1.3/1.3
            Commitment applies to all regions, suppliers and operation
            Yes
            1.3/1.3
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Target date
            2021
            0.7/0.7
            Target date
            2021
            0.7/0.7
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Interim target date
            NA (target date current or achieved or 2022)
            0.3/0.3
            Interim target date
            NA (target date current or achieved or 2022)
            0.3/0.3
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
        • Commitment to protect High Carbon Stock areas and/or peatlands
          5/5
          • Commitment details
            Yes
            3/3
            Commitment to protect High Carbon Stock areas and/or peatlands
            Yes
            3/3
            Type of commitment: HCS; Peat
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Commitment applies to all regions, suppliers and operation
            Yes
            1.3/1.3
            Commitment applies to all regions, suppliers and operation
            Yes
            1.3/1.3
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Target date
            2021
            0.7/0.7
            Target date
            2021
            0.7/0.7
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Interim target date
            NA (target date current or achieved or 2022)
            0.3/0.3
            Interim target date
            NA (target date current or achieved or 2022)
            0.3/0.3
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
        • Commitment to a traceable supply chain
          4/6
          • Commitment details
            Traces to Point of production
            4/4
            Commitment to a traceable supply chain
            Traces to Point of production
            4/4
            [Translation] - “The rubber supply chain is much more complex and unstable than that of oil palm. Nevertheless, we have obtained traceability 100% for the first level of the two chains. Since 2019, we have started to postpone more demanding levels of traceability 12. We reach 95% for the 2nd level and 93% for the 3rd level for palm diets and 81% for 2nd level and 50% for the 3rd level for the rubber. Actions will be implemented to gradually reach 100% in the levels of higher traceability.” - Table of sourcing locations down to point of production are displayed within the linked document
          • Commitment applies to all regions, suppliers and operation
            No
            0/1.3
            Commitment applies to all regions, suppliers and operation
            No
            0/1.3
            If no, what is excluded?: Segment
          • Target date
            No target date
            0/0.7
            Target date
            No target date
            0/0.7
            [Translation] - “The rubber supply chain is much more complex and unstable than that of oil palm. Nevertheless, we have obtained traceability 100% for the first level of the two chains. Since 2019, we have started to postpone more demanding levels of traceability 12. We reach 95% for the 2nd level and 93% for the 3rd level for palm diets and 81% for 2nd level and 50% for the 3rd level for the rubber. Actions will be implemented to gradually reach 100% in the levels of higher traceability.” - Table of sourcing locations down to point of production are displayed within the linked document
          • Interim target date
            No
            0/0.3
      • Social Considerations
        14/18
        • Labour rights in the supply chain
          Yes
          4/4
          Labour rights in the supply chain
          Yes
          4/4
          Details of commitment: ILO; Discrimination; Forced labour; Child labour; Freedom of association
          “The occupational health and safety system is based on OHSAS 18001, while the labour and human rights policies are based on the standards set out in the SA 8000 guidelines, the RSPO principles and criteria, ILO conventions and the UN’s Universal Declaration of Human Rights. The Group strictly commits to freedom of association and non-discrimination, bans forced and child labour, and furthermore guarantees fair pay and decent housing to its employees. [...] Socfin also strengthened its commitment towards transparency by putting a “transparency dashboard” online. Likewise, its code of conduct, updated in 2017, was split in 2 different codes: a “code for employee and business conduct” and a “code for suppliers”. The two codes, together with the new “whistle-blower” protection policy, will be implemented during the year 2018.”
        • Inclusion of small-scale farmers
          Yes
          4/4
          Inclusion of small-scale farmers
          Yes
          4/4
          How many smallholders do they support, and what percentage does this represent in terms of their sourcing from smallholders?: Not specified

          What is the nature of that support?: Education and training
          [Translation] "Through this policy, the Socfin Group commits to implementing best management practices and particularly to: ...• facilitating smallholder inclusion; • guaranteeing fair and transparent price negotiations with smallholders; • continuously improving its agricultural practices aimed at achieving higher yields.” [...] “Smallholders are trained in the sector’s « good agricultural practices » and consequently show greater respect for the environment and soils, resulting in higher soil productivity. In this way, smallholders achieve a yield similar to agro-industrial plantations (sometimes even 10 times higher).“
        • Gender equality in the supply chain
          No commitment
          0/4
        • Commitment to remediation
          Yes
          2/2
          Commitment to remediation
          Yes
          2/2
          Type of harm covered: Environmental harm
          "Regular monitoring to ensure that vegetation on steep slopes are maintained, and appropriate soil conservation measures are implemented for planting on moderate slopes. If infractions are identified, immediate remediation action should be taken. "
        • Commitment to ensure Free, Prior and Informed Consent
          Yes, the company commits to securing FPIC prior to acquiring new interests, developments, or expansions
          4/4
          Commitment to ensure Free, Prior and Informed Consent
          Yes, the company commits to securing FPIC prior to acquiring new interests, developments, or expansions
          4/4
          "The HCS approach is developed to be used together with and as a part of other land management and conservation strategies, such as Free, Prior and Informed Consent (FPIC), protection of peat lands, buffer zones along watercourses, HCV (High Conservation Value) areas, and areas of high cultural or economic importance to the local communities or indigenous populations."
        • Commitment to resolve land conflicts
          No
          Commitment to resolve land conflicts
          No
          0/0
          "No new development can be carried out until: [...] Any on-going dispute for the areas in question has been resolved 
      • Reporting and Implementation
        20/50
        • Reporting against commitments
          2/2
          • Commitment to protect priority forests
            Yes, for all commodity exposure
            1.7/1.7
            Commitment to protect priority forests
            Yes, for all commodity exposure
            1.7/1.7
            “We are committed to certifying all of our oil palm plantations by 2021. Our subsidiaryIndonesian Socfindo, has been certified since 2015 and our Nigerian subsidiary Okomu was audited in December 2019 and obtained his RSPO certificate in January 2020.We plan to certify the 7 remaining plantations by 2021; however, it is currently difficult topredict the impact of the current Covid19 pandemic on our certification schedule.” In their 2019 ACOP, Socfin report that they used 194,892.07 tons of palm oil, of which 166,660.56 tons were RSPO-certified. They also used 33,104 tons of palm kernel oil, of which 100% was RSPO-certified.
          • Commitment to protect High Carbon Stock areas and/or peatlands
            Yes, for all commodity exposure
            1.7/1.7
            Commitment to protect High Carbon Stock areas and/or peatlands
            Yes, for all commodity exposure
            1.7/1.7
            Does the company report on the degree of compliance/progress with commitments, disaggregated by relevant factors such as origin or supply chain stage?: Yes
            [translation] "As a result, all of our palm operations are in RSPO certification process. We are targeting 2021 for certify all of our oil producing sites.” "the Group applies the HCS approach: no new development on primary or secondary forest, peatlands, HCV areas, riparian areas, protected areas or critical habitats."
          • Commitment to a traceable supply chain
            Yes, for all commodity exposure
            1.7/1.7
            Commitment to a traceable supply chain
            Yes, for all commodity exposure
            1.7/1.7
            Does the company report on the degree of compliance/progress with commitments, disaggregated by relevant factors such as origin or supply chain stage?: Yes
            [Translation] - “The rubber supply chain is much more complex and unstable than that of oil palm. Nevertheless, we have obtained traceability 100% for the first level of the two chains. Since 2019, we have started to postpone more demanding levels of traceability 12. We reach 95% for the 2nd level and 93% for the 3rd level for palm diets and 81% for 2nd level and 50% for the 3rd level for the rubber. Actions will be implemented to gradually reach 100% in the levels of higher traceability.” - Table of sourcing locations down to point of production are displayed within the linked document
        • Reporting is independently verified
          0/1
          • Commitment to protect priority forests
            Yes, using a third-party verification scheme or certification scheme.
            1/1
            Commitment to protect priority forests
            Yes, using a third-party verification scheme or certification scheme.
            1/1
            Which tools, approaches, third-party verification, including certification, schemes are used?: RSPO

            Which processes or groups does the company use for third party verification?: RSPO
            In their 2019 ACOP, Socfin report that they used 194,892.07 tons of palm oil, of which 166,660.56 tons were RSPO-certified. They also used 33,104 tons of palm kernel oil, of which 100% was RSPO-certified. This gives a total palm oil/palm oil derivative use of 227,996.07 tons, of which 199,764.56 were RSPO-certified (87.6%)
          • Commitment to protect High Carbon Stock areas and/or peatlands
            No
            0/1
          • Commitment to a traceable supply chain
            No
            0/1
        • Suppliers aligned with deforestation commitments across supply chain
          Yes, encouraged
          0/2
          Suppliers aligned with deforestation commitments across supply chain
          Yes, encouraged
          0/2
          "The Socfin Group will support and encourage its suppliers to implement this policy. It will be pro-actively communicated to all suppliers, including within supplier contracts where possible."  
        • Deforestation cut off date
          No
          0/2
        • Collaborative actions
          No
          0/2
        • Risk assessments for forest risk
          Yes
          2/2
          Risk assessments for forest risk
          Yes
          2/2
          How frequently are assessments conducted?: Not specified 
          "Finalize HCV assessments For Safacam (Cameroon), SOGB (Côte d’Ivoire), Socapalm, Agripalma (São Tomé and Príncipe), Brabanta (DRC), SAC LUCA studies are progressing for all units going for RSPO certification audits in September-October 2020 (SAC, Safacam, SOGB, Mbambou/Mbongo)."
        • Operations assessed to comply with law
          No
          0/2
        • Accessible grievance mechanism
          Yes, and published details of any grievances within the last two years (2019-2021)
          4/4
          Accessible grievance mechanism
          Yes, and published details of any grievances within the last two years (2019-2021)
          4/4
          Which issues does the grievance mechanism cover?: Social; Environmental

          What is the nature of the grievance mechanism used by the company (own mechanism, that of external company, internationally recognised mechanism, etc.)?: No
          "Socfin Group’s Responsible Management Policy and this Grievance Management Procedure apply to all worldwide operations and all third-party suppliers. [...] Translation - “With their support, we have also formalized our external complaints management procedure. This procedure is available online just like the external complaints recorded and their follow-up.As of December 31, 2019, 4 of the 6 complaints registered had been closed and 2 were under investigation. This joint management of complaints and the board guarantees visitors neutral information and transparent.”
        • Report volumes of commodity
          Reporting total volume
          2/2
          Report volumes of commodity
          Reporting total volume
          2/2
          Total/partial volume reported: 503926 tonnes 
          In their 2020 ACOP, they state a usage of 503926 tonnes of palm oil 
        • Report verified volumes of commodity
          1-49%
          2/6
          Report verified volumes of commodity
          1-49%
          2/6
          What is the certified volume?: 210127 tonnes

          What third-party verification is used?: RSPO

          For what percent of the company's supply volume is third-party verification of performance relative to commitments conducted?: 35.6%
          According to their 2020 ACOP, 180223 tonnes were RSPO certified 
        • Upstream: Monitor compliance with human rights
          No
          0/4
        • Upstream: Impact assessments for land development/acquisition
          Yes
          4/4
          Upstream: Impact assessments for land development/acquisition
          Yes
          4/4
          For what percentage of production units has an ESIA been carried out as part of the land use planning process?: 100%

          How does the company remedy adverse social and environmental impacts linked to their operations and/or supply chains?: Not specified 
          “High Carbon Stock approach Since July 2016, the Socfin Group recognizes and implements the High Carbon Stock (HCS) approach as defined by the HCS Approach Steering Group and the HCS toolkit. The HCS approach is developed to be used together with and as a part of other land management and conservation strategies [...] “Concretely, during a development project, environmental and social impact studies are always carried out. They include management plans, environmental and social, mitigation measures impacts, a community development plan and a stakeholder engagement plan; the whole forming an integral part of the agreed occupancy contract with the state and communities.”
        • Upstream: Reporting production/processing locations
          No disclosure
          0/4
        • Upstream: Monitor compliance of production/processing
          No
          0/4
        • Upstream: Reporting hectares of deforestation
          No
          0/4
  • Commitment strength
    14/20
    Avg. score
  • Reporting and Implementation
    20/50
    Avg. score
  • Social considerations
    14/18
    Avg. score

Profile

The Société Financière des Caoutchoucs (SOCFIN) is an agribusiness group active in the cultivation, processing and trading of palm oil. Its business is located in Africa and Asia, with plantations in Sierra Leone, the Ivory Coast, Nigeria, Cameroon, the Democratic Republic of Congo, Ghana, São Tomé and Indonesia. Socfin Group is selected as a powerbroker for palm oil.

Sector
Industry sector 
Agri commodities, Agriculture
Segments
Producer, Processor
HQ
HQ 
Luxembourg
Company Type
Company type 
Private
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.

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.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.