Session 6-1-john-laidlow-responsible-investment-as-a-tool-to-guide-sustainable-production-1477
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Responsible investment and the palm oil industry
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Session 6-1-john-laidlow-responsible-investment-as-a-tool-to-guide-sustainable-production-1477
- 1. Palm oil: Responsible investment as a driver of sustainable production John Laidlow Head of Sustainable Business Group Corporate Sustainability HSBC Holdings plc 6 May 2011
- 2. The world’s local bank Founded 1865 7,500 offices 87 countries and territories 300,000 staff 95 million customers 221,000 shareholders Market capitalisation $191 billion 2010 profit before tax $19 billion
- 3. Sustainability at HSBC Development which meets the needs of the current generation without compromising the ability of future generations to meet their own needs. HSBC’s view of sustainability: Financial stability Customer relationships Communities
- 4. HSBC’s framework The 3 Ps
- 5. Policies Forest Land Mining Fresh & Chemicals Energy & water Forest Metals Products
- 6. Processes Analyse the customer’s potential impacts and ability to manage them successfully Sustainability Risk Rating - Impact Low Scale of impact Medium High Sustainability Risk Rating - Customer Leader Commitment Compliant Capacity Near-Compliant Track Record Non-Compliant
- 7. Sustainability risk ratings SRR - Impact High Medium Low No Risk Non-Compliant Near-Compliant SRR -Customer Compliant Leader Not Applicable
- 8. Management information - 2010 Approved Limits Customers (USD m) Total 580,222 42,968 Leader 22,092 1,066 Compliant 543,826 40,519 Near-Compliant 14,181 1,301 Non-Compliant 123 82
- 9. People Sustainability Risk Managers in 27 countries and regions
- 10. Forest land & forest products policy including palm oil
- 11. Forest land and forest products policy • 2004 • Loans, advice, trade finance, capital markets • Environmental and social sustainability • Certification • Engagement – 5 years • Plantations • Conversion since 2004 unless no impact on HCVF • No burning • Support RSPO, encouraging customers to join.
- 12. Palm oil guidance note • RSPO producer certification started in 2008. • Long-term benefits to whole supply chain. • Plantations and mills • Social conflict, biodiversity, climate change and food • Preference for customers to making credible progress with RSPO certification. • Obtained certification or have a credible and time-bound plan. • Amended conversion cut-off date of 2007
- 13. Challenges • Companies not making credible progress with RSPO: • No conversion of HCVF after 2004 • No burning • No social conflict re FPIC and rights to area • Approach to peat where >1m depth and 150 ha in area. • Different stakeholders – eg smallholders • Supply chain • “RSPO is not perfect” • Climate change • Asset management
- 14. More challenges Source: Greenpeace Source: Greenpeace Source: REM
- 15. Looking forward • Recognise and support the benefits of palm oil • Mitigate the negative impacts • Make sustainable palm oil the norm • Supply chain • Multi-stakeholder approach is complex but necessary • A sustainable future is good for business • Responsible investment can drive sustainable production • Quicker where more financial institutions involved