Wilmar Prevents Deforestation and Climate Change, with BanQu
Malaysia, May 4, 2023
Wilmar International Limited (Wilmar) has partnered with BanQu as part of its ongoing effort to address climate change. The project, which was launched in June 2022, leverages on the BanQu platform to capture verifiable data on Wilmar’s Sekar Imej Conservation Area (SICA).
SICA is Wilmar’s largest conservation area in Malaysia, spanning 2,469 hectares. Wilmar, among the world’s leading agri-commodity companies, is committed to also develop SICA as a Biodiversity and Carbon Research Center by 2030.
Wilmar partnered with BanQu for their platform’s ability to capture verifiable, forest-level data. BanQu is a traceability and supply chain compliance software that collects audit-proof sustainability data on its secure, blockchain-based platform.
In June 2022, BanQu’s global support team connected with SICA’s teams on the ground to pilot test forest monitoring using blockchain. Since then, the project has expanded to the full version of the BanQu system, with multiple conservation officers and rangers utilizing the platform.
Through BanQu, rangers complete forms with offline capabilities to record observations while monitoring the forest, including findings on biodiversity and threats. BanQu’s patented technology enables these forms to capture diverse, geolocated data, which conservation officers use to report on SICA accurately. This level of visibility is critical to creating an audit trail of conservation efforts and impact. As a result, Wilmar has access to verifiable, forest-level data to prove conservation progress and support their decarbonization strategy.
Commenting on the project Chin Sing Yun, Conservation Lead for Malaysia at Wilmar, said, “Recording of forest monitoring via BanQu has enabled us to provide evidence-based data and eased the reporting process of the conservation monitoring in SICA. BanQu is a useful tool to track the monitoring efforts on the ground, however, connectivity remains a challenge in remote areas such as SICA. Limited connectivity in SICA affects the user experience and stability of the monitoring reporting and finding solutions is in progress. Despite the challenges in connectivity, BanQu’s team has been very responsive and supportive in troubleshooting to provide solutions and progress in developing offline capabilities.”
BanQu’s platform provides Wilmar with a reliable data capture tool for:
- Accurate internal and external insights as well as reporting.
- Verifiable proof of conservation progress (e.g., increase in biodiversity).
- Monitoring potential threats to the conservation area (e.g., encroachment).
- Decarbonization progress, tracking, and reporting.
Wilmar, supported by BanQu, is leading the way for true climate action and conservation to enable a sustainable future. Learn more about the SICA project here!
About Wilmar
Wilmar International Limited, founded in 1991 and headquartered in Singapore, is Asia’s leading agribusiness group. They are ranked 285th on the 2020 Fortune Global 500 and 3rd in the Food Production Industry on Fortune World's Most Admired Companies 2021.
As a leading agribusiness group, Wilmar recognizes that we have a fundamental role to play in developing quality products required by the world while ensuring we have a responsible and sustainable manner of production. We adopt a holistic approach to sustainability that is fully integrated with our business model.
Guided by the philosophy that our business must enhance stakeholder value while minimizing our environmental footprint, our business practices are aligned with universally acceptable social and environmental standards. Wilmar’s No Deforestation, No Peat, No Exploitation (NDPE) Policy and NDPE Sugar Policy, introduced in 2013 and 2021 respectively, underpin our aspiration to make a positive impact and drive transformation across the palm oil and sugar sectors.
For more information, please visit www.wilmar-international.com/sustainability.
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About BanQu
BanQu is an advanced traceability and supply chain compliance software that helps brands and suppliers worldwide track their sustainability and ensure compliance with international regulations, certifications, and industry standards. With real-time, primary data, BanQu can help suppliers and brands track carbon offsets, gain source-level visibility, prove sustainability, and achieve audit-proof compliance.
Schedule a discovery call with the BanQu team here!
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