PLS Plantations today announced that they were rated a Silver3 by RAM Sustainability for its principal plantations and trading segments.
The sustainability ratings by RAM Sustainability captures the Company’s corporate sustainability performance based on all the environmental, social and governance (ESG) themes, as well as relevant international and domestic guidelines by Bank Negara Malaysia’s (BNM) Climate Change and Principle-based Taxonomy (CCPT).
“This rating sets the baseline for the PLS, in providing clear forward strategy in terms of our priorities and focus areas, across our business and operations, especially in areas for improvement,” PLS Plantations’ Independent Non-Executive Chairman, Tan Sri Nazir Razak said.
“Equally as important, it offers our stakeholders – investors, regulators, business partners, suppliers, and clients – an objective and transparent assessment of our commitment to sustainability and responsibility as a reliable supplier, business partner, and an employer.”
“PLS Plantations is working hard to execute against our strategy towards becoming Malaysia’s leading sustainable, agrofood provider in the coming years,” he added.
“PLS Plantations is establishing a starting point for its ESG journey by subjecting itself to the rigors of a sustainability rating and positioning that transparency is a priority even though it points to its high ESG risk profile – for this it must be commended, and we look forward to monitor its sustainability progress. We hope that this will set a precedent for more companies to embark on their sustainability journey and aspire to achieve the highest ratings.” Promod Dass, RAM Sustainability’s Chief Executive Officer said.
As a Public-Private-Partnership (PPP), PLS Plantations’ vision is to contribute to the nation’s food security and positive socioeconomic impact through initiatives in supporting local farmers, specifically the B40 and indigenous communities.
In its official statement, the company is said to be committed to produce quality products and services evidenced by the various certifications obtained such as the Malaysian Sustainable Palm Oil (MSPO) Certification for its plantation segment.
Meanwhile, its trading arm has received Good Manufacturing Practices (GMP), Malaysia Good Agricultural Practices (myGAP), HALAL and Hazard Analysis Critical Control Point (HACCP) certifications, among others and has dedicated policies to manage human resource and human rights including the Good Social Practices Policy, Occupational Safety and Health Policy, Child Labour Policy and Sexual Harassment Policy.
