IOI ends RSPO litigation10 Jun 2016
IOI has decided to withdraw its legal proceedings against the RSPO Board’s suspension decision. The withdrawal of the proceedings will be formalised on 14 June 2016.
IOI has decided to withdraw its legal proceedings against the RSPO Board’s suspension decision. The withdrawal of the proceedings will be formalised on 14 June 2016.Since the filing of the proceedings, IOI says it has engaged with many of its stakeholders such as customers, NGOs and RSPO to resolve the matter and that it has completed the Action Plan and submitted to RSPO a Memorandum on the company’s sustainability policy initiatives and resource deployment. IOI notes that one of the key policy initiatives stated in the Memorandum is its commitment to voluntarily adopt the more stringent RSPO Next certification system starting from the end of 2016. The company concluded its statement by saying that this initiative affirms its commitment to and support for the sustainability principles and work of RSPO, an organisation of which IOI is a founding member and on whose board IOI has been serving for 10 years.
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