Scope of the Policy
- All provisions of Palm Oil Sustainability Policy, with no exception, apply to:
- All POSCO INTERNATIONAL operations related to production and trading of palm oil including subsidiary companies, joint ventures, and companies over which it has management control.
- All third-party suppliers at group level. A supplier group is a group of palm oil-related companies from which we purchase fresh fruit bunch (FFB), crude palm oil (CPO) and refined palm oil.
Implementation, monitoring and reporting procedures will be carried out to ensure compliance for all aspects of this policy. For third-party suppliers, we will work with relevant stakeholders to ensure that suppliers implement this policy and associated commitments through a time-bound process.
POSCO INTERNATIONAL, through its subsidiary PT.BIA, reserves the right to suspend all purchase and other agreements with any group-level palm oil supplier that is found to be in serious violation of this policy.