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Govt allocates RM50 million for Roundtable Sustainable Palm Oil Fund

KUALA LUMPUR, 29 Aug 2008: The government will allocate RM50 million to provide a Roundtable Sustainable Palm Oil (RSPO) Fund to support community programmes and conservation programmes.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said the fund will be used to support community programmes such as upgrading of schools in plantation and conservation programmes such as enhancing biodiversity in plantations.

"Malaysia is one of the largest palm oil producers in the world. To enhance global acceptance of palm oil, there is a need to demonstrate strong social and environmental responsibility in our business practices," he said when tabling the 2009 Budget in Parliament here today.

He said the government therefore fully supported the initiative by palm oil plantations to obtain RSPO certification.

RSPO certification takes into account not only good agriculture practices but also responsible social and environmental management.

The certification will ensure plantation companies carry out their businesses the sustainable way. – Bernama

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