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aws账号(www.2km.me)_Big effects from ESG mandate

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KUALA LUMPUR: Crude palm oil (CPO) supply will see more restrained growth going forward due to Roundtable on Sustainable Palm Oil (RSPO) requirements and environmental, social, and governance (ESG) concerns in obtaining financing, according to Kuala Lumpur Kepong Bhd (KLK) group CEO Tan Sri Lee Oi Hian.

“I think supply will be more restrained in growth, unlike the past, in the early 2000s. You have to comply with the RSPO requirements. No deforestation. Financing from banks is very difficult. They don’t even want to get near the word ‘deforestation’,” he said during the “Sustainable Commodity Growth” discussion at the Invest Malaysia 2021 Series 3 online forum, organised by Bursa Malaysia and JP Morgan.

Other discussion panellists were Press Metal Aluminium Holdings Bhd group CEO Tan Sri Koon Poh Keong and Yinson Holdings Bhd group CEO Lim Chern Yuan.

The discussion was moderated by JP Morgan Malaysia head of equity research Jeffrey Ng.

“In Indonesia, the government has a moratorium, so land is harder to get. And also, another requirement now is you must get your lease title before you can even start planting. Plantations also have very long gestation period, for greenfields,” added Lee.

Lee said the way forward would be to increase yield from existing plantations.

“Most of the (productivity) growth, I think, would be through brownfields. We still got some way to go, maybe 20% to 25% growth from productivity per hectare of land is possible,” he said.

Lee added that KLK is aiming to increase yield to six tonnes per hectare, from the current 4.6 to 4.8 tonnes per hectare.

“If we bring it to six tonnes, automatically the greenhouse gas emissions per tonne drops drastically and this is done through better management and also replanting with better planting materials,” he said.

Lee also noted that big multinationals are committed to sustainability and “they want to make sure that all these raw materials come from areas that are not deforested.”

He pointed out that they are also willing to pay premium prices for palm kernel oil.

“Formerly, they were paying a premium of US$15 to US$30 (RM62.30 to RM124.60) per tonne but now, due to the shortage of palm kernel oil, you can hear premiums of US$150 (RM622.80) per tonne.”

Meanwhile, Koon pointed out that globally, about 25% of the aluminium producers worldwide run on hydro electric power, and about 60% are still sourcing from coal power plants. He noted that Press Metal’s smelting plants use electricity generated predominantly from hydro electric power.

“Responsible sourcing is big news nowadays, and there is a platform where you can trade in “green” aluminium. Currently, the premium is about US$10 to US$15 (RM41.50 to RM62.30) per tonne,” said Koon, adding that due to the ESG drive, the demand for aluminium is increasing, especially in the automobile industry.

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