As one of the largest producers and exporters globally, oil palm has become Malaysia’s most valuable agricultural crop
THE urgency to decarbonise has never been greater. While crude palm oil prices are projected to trade at a healthy RM5,000 per tonne in the first half of 2022, palm oil’s climate impact – deforestation, draining of peat swamps, land clearance by burning, biodiversity loss – is less rosy.
In Malaysia and Indonesia, greenhouse gas (GHG) emissions from oil palm-driven land conversion alone have reached a staggering 1.4% of the global aggregate, bringing it on par with global emissions from the aviation industry. Given this reality, integrating climate action across palm oil supply chains is a critical step towards achieving net-zero status by 2050.
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