GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Business

Ghana To Do Palm Oil Business Without Causing Deforestation

November 18, 2016
in Business
Share on FacebookShare on Twitter

Ghana, together with six other African countries, has agreed in a declaration signed on Wednesday to protect their tropical forests from being cut down to make way for palm oil crops.

You Might Also Like

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

Online Casino Best-Themed Games

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

The other countries are the Central African Republic, Ivory Coast, the Democratic Republic of Congo, Liberia, the Republic of Congo and Sierra Leone.

Palm oil, one of the world’s most widely used vegetable oils, is a fast-growing business and a major cause of tropical deforestation worldwide.

The seven countries that signed the declaration in Marrakesh, where international climate talks are taking place, want to expand into the $50 billion global palm oil market.

The countries are home to about 13 per cent of the world’s remaining tropical forest, particularly in the Congo Basin region, and represent more than 70 per cent of Africa’s tropical forests.

Those are at risk as the palm oil market expands, toward an estimated $88 billion a year by 2022, according to the World Economic Forum.

“It’s really exciting and important that these countries which are about to expand into the market have learned from the path that (Malaysia and Indonesia) took,” Dominic Waughray, head of public-private partnerships at the World Economic Forum, said in a telephone interview.

Indonesia and Malaysia export about 85 per cent of the world’s palm oil. Malaysia has already cleared much of its forests to grow the crop, and Indonesia is in the process of doing so, Mr. Waughray told the Thomson Reuters Foundation.

The World Economic Forum hosts the Tropical Forest Alliance 2020, a partnership of governments, companies and non-governmental organisations, which produced the Marrakesh Declaration.

About half of global tropical deforestation is driven by beef, soy, palm, and paper and pulp. But palm oil is probably the biggest driver of the four commodities, Mr. Waughray said.

It is used in a host of everyday goods, from soap to breakfast cereals, as well as for frying and fuel.

Pressure from buyers

Some of the pressure on governments to protect forests comes from major buyers such as Kellogg’s, Unilever, and Procter & Gamble, which aim to strip deforestation from their palm oil supply chains by 2020, Mr. Waughray said.

Paul Polman, chief executive officer of Unilever – a major palm oil buyer – welcomed the signing of the declaration, saying “Palm oil, if produced sustainably, can play a key role in poverty alleviation by helping farmers thrive economically while adopting sustainable agricultural and business practices.”

Under the declaration, governments have also promised to protect the human rights and livelihoods of indigenous people and smallholder farmers, and help them access the booming market.

“Deforestation has often been linked to human rights violations,” Hindou Oumarou Ibrahim, co-chair of the International Indigenous People’s Forum on Climate Change, said in a statement, and added that, “People are losing access to the land they have always lived on and farmed. I hope this declaration will be an example to the rest of the region and encourage other tropical forest African countries to follow in the commitment.”

The declaration “is not just about environmental sustainability, it’s also transparency in that supply chain (including) respecting and managing the rights of indigenous peoples groups,” Mr. Waughray said.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Tags: africabusinessBusiness_FinanceCentral African RepublicChief Executive Officerco-chaircongoDeforestationDemocratic Republic of CongoDominic WaughraydriverenvironmentFood Processing - NECForestryghanahead of public-private partnershipsindonesiaivory coastKelloggliberiaMalaysiaNatural environmentoilPalm oilpalm oil buyerpalm oil cropspalm oil marketpalm oil supply chainsPaul PolmanPersonal Products - NECProcter & GambleRepublic of CongoSierra LeoneSocial and environmental impact of palm oilThe Forest TrustThomson Reuters FoundationTropical Forest AllianceunileverWorld Economic Forum

Related News

Covid-19: President Akufo-Addo To Address Ghanaians Tonight

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

by ghanastar
December 9, 2020
0

Nana Akufo-Addo won Ghana’s national election, becoming president-elect at the third attempt and cementing the country’s reputation as a standard-bearer...

Online Casino Best-Themed Games

Online Casino Best-Themed Games

by ghanastar
July 9, 2020
0

Whether you like casino games or not, we can all agree that people like themes, and they express their lover...

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

by ghanastar
July 14, 2020
0

Cisco’s certifications are among the most popular credentials for IT professionals. The company is considered to be one of the...

Burkina Faso: Attack on Church Kills at Least 14

by
December 1, 2019
0

At least 14 people have been killed after gunmen opened fire inside a church in Burkina Faso. The victims were...

Next Post

Edem Sets Twitter On Fire; Descends On 'hypocrites' In the Music Industry

Ghana Needs More Women In Political Positions

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com