With a 440,577 ha landbank, FGV Holdings (formerly Felda Global Ventures) is the world’s largest crude palm oil producer and the third-largest oil palm plantation operator.
In recent years, FGV Holdings has improved its transparency by developing a new palm oil dashboard. FGV Holdings also has pledged not to source raw materials or products from High Conservation Value areas, from high carbon stock forests, or from lands where fire has been used to clear vegetation and to refrain from development on peat, regardless of depth.
However, allegations of forced labor led to the company being banned from selling palm oil to the United States. Based on evidence of “abuse of vulnerability, deception, restriction of movement, isolation, physical and sexual violence, intimidation and threats, retention of identity documents, withholding of wages, debt bondage, abusive working and living conditions, and excessive overtime,” the U.S. government in September 2020 ordered the ban on imports of FGV palm oil products. The RSPO has suspended certification for palm oil produced at several FGV plantations amid reporting irregularities and labor violations.
Its top shareholder is Lembaga Kemajuan Tanah Persekutuan, owning 33 percent of the company’s shares.