Olam – Green Tigers Index Rankings

2020 PALM OIL SCORE

79

Olam is a Singapore-based commodity trader with a palm oil landbank of 203,000 ha. Temasek Holdings, the national wealth fund owned by the Government of Singapore, owns 52 percent of Olam. Mitsubishi, Vanguard, and Dimensional are also top shareholders.

In 2010, Olam entered a joint venture agreement with the government of the Republic of Gabon that allocated the company 300,000 ha of land, but its operations there became the subject of controversy in 2016.

Olam has made commitments to exclude sourcing of raw materials or products from High Conservation Value areas, from High Carbon Stock forests, and from lands where burning has been used to clear vegetation. Additionally, the company has a policy to exclude development on peat soil regardless of depth. There are still reports of ties to deforestation. For instance, it still purchases from deforesters United Malaaca and TH Plantations. Also, a report released in 2020 looked into allegations of the company deforesting 25,000 ha in Gabon for palm oil development.

Its top shareholder is Temasek Holdings Pte. Ltd at 52 percent, with Mitsubishi Corp. second at 17 percent. Vanguard and Dimensional are among the top 10 shareholders.

Olam is a member of the Roundtable on Sustainable Palm Oil.

See all of the rankings of major palm oil and soy companies on their adherence to forest conservation requirements on the Green Tiger and Green Jaguar index.