IOI Group further updates its Sustainable Palm Oil Policy

IOI Corporation Berhad (IOI) is pleased to announce that we have further revised our Sustainability Palm Oil Policy (SPOP) to reflect our serious intent towards sustainability and sustainability practices. Specifically, on top of the addition of the Annex on Implementation of policy commitment by Third-Party Suppliers in February of this year, IOI is now also committed to apply the newly revised High Carbon Stock Approach (HCSA) methodology and its associated social requirements.

In addition, IOI has made further enhanced commitments in the area of Human Rights and Workplace which include amongst others, no recruitment fees charged to workers at any stage in the recruitment process, in both receiving and sending countries, payment of monthly minimum wage in accordance with the current labor regulations, access of trade unions to workers and to adopt both the Free and Fair Labor Principles and UN Guiding Principles on Business and Human Rights. IOI is also committed to return all passports to our migrant workers by year end.

Our revised SPOP can be accessed here.

Dato Lee Yeow Chor
Chief Executive Officer
IOI Corporation Berhad