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Powerbroker for

Select an assessment year:

  • Overall approach
    10/16
    • Overarching commitment on deforestation
      4/6
      Deforestation commitment
      Zero-deforestation
      4/6
      [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
      Signatory
      Yes
      1/1
      SOCFIN is a member of the Palm Oil Innovation Group.
    • Awareness of the value of forests
      1/1
      Awareness
      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
      Business risk
      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
      3/3
      LUC emissions target
      Yes
      3/3
      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
      0/3
    • 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 ".
  • Commodity score
    51/84
    • Palm oil
      51/84
      • Commitment Strength
        23/28
        • Commitment to protect priority forests
          10/12
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment to protect priority forests
            Zero-gross deforestation
            6/8
            Which certification schemes are used?: RSPO
            [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
            2/2
            Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            [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
            1.2/1.3
            Target date
            2021
            1.2/1.3
            [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."
          • Interim target date
            Yes
            0.7/0.7
            Interim target date
            Yes
            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."
        • Commitment to protect High Carbon Stock areas and/or peatlands
          8/8
          • Commitment details
            Yes
            4/4
            Commitment to protect High Carbon Stock areas and/or peatlands
            Yes
            4/4
            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
            2/2
            Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            [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
            Current/2020/Pre-2020
            1.3/1.3
            Target date
            Current/2020/Pre-2020
            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."
          • Interim target date
            Yes
            0.7/0.7
            Interim target date
            Yes
            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."
        • Commitment to a traceable supply chain
          5/8
          • 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
            0/2
            Commitment applies to all regions, suppliers and operation
            No
            0/2
            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
          • Target date
            Current/2020/Pre-2020
            1.3/1.3
            Target date
            Current/2020/Pre-2020
            1.3/1.3
            What actions or steps are identified for time-bound implementation?: Not specified
            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
            0/0.7
      • Social Considerations
        10/18
        • 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
          What is the nature of that support?: Education and training

          How many smallholders do they support, and what percentage does this represent in terms of their sourcing from smallholders?: Not specified
          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
          No
          0/2
        • Commitment to ensure Free, Prior and Informed Consent
          Yes the company commits to securing FPIC prior to acquiring new interests/developments/expansions
          2/4
          Commitment to ensure Free, Prior and Informed Consent
          Yes the company commits to securing FPIC prior to acquiring new interests/developments/expansions
          2/4
          What is the status of those FPIC processes?: Current
          "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."
      • Reporting and Implementation
        18/38
        • Reporting against commitments
          6/6
          • Commitment to protect priority forests
            Yes
            2/2
            Commitment to protect priority forests
            Yes
            2/2
            “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
            2/2
            Commitment to protect High Carbon Stock areas and/or peatlands
            Yes
            2/2
            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
            2/2
            Commitment to a traceable supply chain
            Yes
            2/2
            Does the company report on the degree of compliance/progress with commitments, disaggregated by relevant factors such as origin or supply chain stage?: Yes

            What percentage of the commodity volume in the company's supply chain is traceable to applicable supply chain levels (e.g. direct suppliers/processing facility/production unit)?: 0 Various depending on tier
            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
          1/4
          • Commitment to protect priority forests
            Yes: third-party
            1.3/1.3
            Commitment to protect priority forests
            Yes: third-party
            1.3/1.3
            Which tools, approaches, third-party verification, including certification, schemes are used?: RSPO Certification

            Which processes or groups does the company use for third party verification?: RSPO

            For what percent of the company’s supply volume is third-party verification of performance relative to commitments conducted?: 87.6%
            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
            0/1.3
          • Commitment to a traceable supply chain
            No
            0/1.3
        • Deforestation cut off date
          No
          0/2
        • Collaborative actions
          No
          0/2
          Collaborative actions
          No
          0/2
        • Risk assessments for forest risk
          No
          0/2
          Risk assessments for forest risk
          No
          0/2
          For what percentage of material produced or sourced by the company has forest risk been assessed?: 100%

          How frequently are assessments conducted?: Not specified
        • Operations assessed to comply with law
          No
          0/2
        • Accessible grievance mechanism
          Yes
          4/4
          Accessible grievance mechanism
          Yes
          4/4
          What is the nature of the grievance mechanism used by the company (own mechanism, that of external company, internationally recognised mechanism, focused on social issues, focused on environmental issues, etc.)?: Email/Postal

          Does the company publish grievances that have been made against it, as well as responses and resolutions including status and timeframes: No

          Details of the mechanism: Social
          "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 non-certified/non-compliant volume; Reporting certified/compliant volume
          4/4
          Report volumes of commodity
          Reporting non-certified/non-compliant volume; Reporting certified/compliant volume
          4/4
          What is the non-certified/non-compliant volume?: 28,231.51 tons

          For what percent of the company's supply volume is third-party verification of performance relative to commitments conducted?: 87.6%

          Which certification schemes are used?: RSPO

          What is the certified volume?: 227,996.07 tons
          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%)
        • 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
          Yes using a third-party monitoring system
          4/4
          Upstream: Monitor compliance of production/processing
          Yes using a third-party monitoring system
          4/4
          How frequently is compliance assessed?: Not specified

          For what percentage of suppliers does the company use/rely on external mechanisms to monitor compliance?: 100%

          Does the company use a jurisdictional monitoring mechanism?: No

          For what percentage of production or primary processing operations that it owns, manages, or otherwise controls does the company use external processes or actors, such as certification, to monitor compliance?: 100%

          Does the company use a certification system?: Yes
          "Voluntary compliance with other standards Following the Socfin Group policies on “quality” and “responsible management”, all plantation companies must obtain certification for their management systems to ensure their compliance with national and international environmental and social performance indicators. The systems are locally managed and are not systematically audited by the head office, but by thirdparty certification bodies such as Bureau Veritas, in order to give more responsibility to local managers.”
  • Commitment strength
    23/28
    Avg. score
  • Reporting and Implementation
    18/38
    Avg. score
  • Social considerations
    10/18
    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.