Both ENDS
We pushed the canoe through the turf and climbing on board he suggested I take the helm while he would hoist the sail. Being aboard this fast sailing lightweight canoe, carried by the swell of the blue sea, brought back images so vividly described in Hemingway's book The old man and the sea. After leaving the coast, going further onto the sea we eventually changed track and went north. I learned from the fisherman that the daily catch of fish was very meagre. Fishermen had to leave home early morning, around 4 AM, and had to venture out far off the coast to find fish. When I spotted my hotel near the beach we set course for the coast. When we had reached the shore again, I paid the fisherman and we parted amicably, in good spirit.
On 30 September 2017 Both ENDS submitted a position statement on the draft Indonesian Sustainable Palm Oil National Action Plan. The draft National Action Plan purports to represent a blue print for improving the sustainability of the Indonesian palm oil industry. However, Both ENDS has significant concerns about the logic, rationale and purpose behind the draft National Action Plan and its legitimacy as a benchmark for a sustainable palm oil industry.
The planned initial public offering (IPO) of Malayan state-owned enterprise Felda Global Ventures Holdings (FGVH) will take place this month (28th June). It will be underwritten by Deutsche Bank, JP Morgan and Morgan Stanley; with an expected valuation of around 2.5 billion Euro this will be the second biggest IPO ever, trailing Facebook. A significant detail is that FGVH is controlled by the governing part UMNO, led by Prime Minister Mohd Najib Abdul Razak. The upcoming privatisation might be prompted by a need to generate capital for the upcoming elections.
Over the past 15 years the production of palm oil has increased enormously, and not without reason: palm oil, pressed from the fruit of the oil palm, is cheap and is used in many different products. It is processed in ice cream, chocolate, margarine and sauces, but also in personal care products and cosmetics such as lipstick, detergent, toothpaste, soap and biofuel. Unfortunately, the large demand for palm oil has quite some negative side effects: large-scale deforestation, pollution, 'land grabbing' and above all human rights violations are common practice in countries where palm oil is produced.
