Leaders from more than 100 countries representing over 85% of the world’s forest have pledged to end deforestation by 2030 at the COP26 UN climate change conference this week. The pledge is the first major commitment to emerge from the conference which will have a massive impact on the potential expansion of agricultural land for palm and other crops. The U.S, Canada, China, Brazil, Indonesia, Colombia and Congo among the countries with large tracts of forests and the world’s most carbon sink are among the signatories.
Separately, the 10 biggest agriculture trading and processing companies made a joint statement offering a roadmap for an enhanced supply chain consistent with limiting global warming to 1.500 Celsius.
The companies are ADM, Amaggi, Bunge, Cargill, Golden Agri-Resources, JBS, Louis Dreyfus, Olam, Wilmar and Viterra – all with palm oil footprint from plantation, processing, trading to consumer products.
Indonesia, the largest palm oil producer, is expected to see annual oil palm planted area to…
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