World Bank consults on palm oil strategy

The World Bank is looking at its approach to palm oil

The World Bank is consulting on its approach to palm oil and hopes to have a new strategy by July.1

The bank suspended new investment in palm oil last year after complaints about the environmental and social impact of plantations supported by its private sector arm, the International Finance Corporation.

The consultation will consider whether the World Bank should be investing in the controversial palm oil sector at all (ENDS Report 423, pp 5-6).

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