GreenPalm [SEP] inception
GreenPalm
GreenPalm is a certificate-trading program for "sustainably produced" palm oil. Established in Hull, England, in November 2006, GreenPalm is a trading name of Book & Claim Ltd., "a wholly owned subsidiary of" AarhusKarlshamn UK Ltd.
Operation.
Once an oil palm grower has gone through the RSPO certification process and has been certified, they have four supply chain options to sell through. These options are:
- Identity Preserved
- Segregated
- Mass Balance
- Book and Claim (
GreenPalm)
If the palm oil growers chose GreenPalm, then each tonne of certified palm oil & palm kernel oil they are certified to sell is transferred into a GreenPalm Palm & Palm Kernel Oil certificate. The certificates are offered for sale on the GreenPalm market. Manufacturers based around the globe that use palm oil, palm kernel oil or any derived product can then join GreenPalm. Once they are a member they can place bids for, buy and then redeem certificates equal to the amount of physical oil they wish to cover.