PT BIO INTI AGRINDO'S (PT. BIA) STRONG COMMITMENT TO IMPROVED SUSTAINABLE PALM OIL STANDARDS (NDPE POLICY)
23 June 2020
PT BIA's Oil Palm Plantation
POSCO International as a Shareholder of PT BIA is taking proactive steps to improve sustainable palm oil standards and credibility in managing it.
On March 1, 2020 POSCO International has published a commitment to start implementing the NDPE Policy in all business areas related to the processing and sale of OIL including its subsidiaries and supply chain. PT Bio Inti Agrindo as a subsidiary of POSCO International is READY to implement this new policy. We believe that if the scope of sustainable palm oil is larger, greater benefits will also be felt by all parties.
PT BIA said the NDPE Policy takes a step further than other similar environmental policies as it focuses more on time-bound implementation. NDPE stands for No Deforestation, No Peat and No Exploitation, in outline we continue to carry out positive activities as follows:
- Continue to intensify mutually beneficial partnerships between the community and the Company.
- Fully describe the NDPE Policy on Environment, Human Rights as well as transparent communication on the company's website.
- Proactively publicize the NDPE policy to the global level to fulfill the Global Corporate Citizenship philosophy.
This NDPE policy is another example that demonstrates PT BIA's sustainable passion and dedication to pursue growth together with local communities. Since the inception of the Indonesian palm oil business in 2011, the company has continuously strived to improve the quality of life of local communities in various areas while fulfilling its social responsibility as a 'Global Corporate Citizen'.
Turning to the protection and respect for human rights, the policy stipulates that PT.BIA will protect the rights of local communities and workers as a top priority in accordance with applicable international standards, placing a strong focus on protecting the rights of indigenous groups and strengthening mutually beneficial partnership programs to assist communities in their economic independence and creating decent jobs.
The company also plans to strengthen its existing grievance redress mechanism and stakeholder communication procedures in order to fully participate in resolving issues and conflicts raised by local communities.