- Archer Daniels Midland Co. has announced a new policy for its soy and palm oil suppliers that focuses on fighting deforestation.
- According to The Wall Street Journal, "The inspectors 'will assess growers based on their adherence to a broad set of social, environmental, legal and agronomic standards, including their labor practices, water and soil usage, solid waste management, observance of land rights, legal compliance, and the responsible use of fertilizers,' ADM said."
- This move is the latest from global food and agricultural companies which are under more pressure to adopt responsible and sustainable practices in their operations and supply chain.
According to Bloomberg, Green Century Capital Management Inc., a sustainability-focused mutual fund manager, joined forces with the New York State Common Retirement Fund to encourage ADM to institute this new policy. Green Century has also worked with other food manufacturing companies on their own palm oil sourcing policies, including Kellogg Co., JM Smucker Co., and ConAgra Foods Inc.