Golden Agri Resources Ltd., the world's second-largest palm oil company, has maintained a top investor rating for environmental and social policies even though its Golden Veroleum Liberia (GVL) unit has razed forests and violated the rights of Indigenous people, according to Bloomberg
(16 September, de Bassompierre, Kishan, Sguazzin). Golden Agri acknowledged in February that its GVL unit hasn't done enough to compensate local residents for business practices that included razing part of one of the planet’s richest biodiversity regions. In spite of that fact, Golden Agri tops a global list of more than two dozen agricultural producers and wholesalers for its environmental efforts. Additionally, the company ranks fourth on social-related issues. Andrew King, professor of management at Boston University's Questrom School of Business, said the situation with Golden Agri and GVL highlights "a common problem with ESG ratings." When ratings are not representative of the truth, "their inaccuracy can protect bad actors by impeding pressure for real improvement," King said.
From "Palm Oil Giant’s Industry-beating ESG Score Hides Razed Forests"
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