Tropical natural forests hold large stores of carbon, and greenhouse gases (GHG) are released when these forests are cleared. Given the substantial and continuing contribution that deforestation in tropical regions makes to the build-up of GHGs in the atmosphere, there is an inarguable need to reduce, minimise and eventually eliminate such deforestation.
NO DEVELOPMENT ON HIGH CARBON STOCK (HCS) FORESTS
Following the release of our Policy on Sustainable Palm Oil in 2015, to avoid the release of stored carbon into the atmosphere, First Resources does not undertake any new developments on HCS forests as defined in the HCS Approach (HCSA), which distinguishes forest areas that should be protected, and degraded lands that may be developed. We have since identified areas to conserve and not develop by referencing the HCSA methodology and engaging third-party HCS experts.
We have since identified more than 24,000 hectares of land as conservation areas which have been carved out from the Group’s development plans, in accordance with our Policy. These are areas with potential HCS forests, High Conservation Value (HCV) areas or peat areas. To ensure that new development does not encroach into these conservation areas, we have implemented a robust monitoring program that includes pre- and post-development checks. Our monitoring program has been in place since 2015, and we recorded no cases of illegal deforestation in our own operations in 2022.
Going forward, all new land clearing for oil palm plantations will be preceded by an integrated HCV-HCSA assessment. This is in line with the requirements of criterion 7.12 of the revised Roundtable of Sustainable Palm Oil (RSPO) Principles and Criteria which was released in November 2018.